15th March 2022 - Credit Connect

Recession risk looming into view

15th March 2022 Arrears and Recoveries | #cost of living

The poorest households could see their cost of living jump by as much as 10% by this autumn, the Resolution Foundation think-tank has warned. The Foundation says that rising food and energy prices risk driving a second inflation spike this autumn that could reach over ten per cent for poorer households – significantly higher than…

1.8m Scots have taken a financial hit during the pandemic

15th March 2022 Consumer Collections | #pandemic

Over 1.8 million adults in Scotland have seen their finances get worse during the Covid pandemic, according to new analysis from Citizens Advice Scotland (CAS). Polling for the charity by YouGov found 41 per cent of Scottish adults found their financial position got worse during the pandemic, with 15 per cent saying their position has…

One in twelve now using BNPL to cover basic costs

15th March 2022 Arrears and Recoveries | #BNPL

One in twelve people turned to Buy Now Pay Later (BNPL) to cover basic costs such as food and toiletries in the last six months research by Citizens Advice has found. The charity discovered young people, those in debt and those claiming Universal Credit, are at least twice as likely to have used BNPL for…

Tenants face £1,000 extra cost of living rise on rent and bills

15th March 2022 Consumer Collections | #rental costs

Housing tenants face having to find an extra £1,000 this year to cover higher rent and essential bills to fund cost of living rises according to research by Hamptons. The company’s Monthly Lettings Index found that tenants will end up paying more than ever on rent and bills, with an average of 54% of household…

Loans at Home enters administration

15th March 2022 Alternative Consumer Lending | #business insolvency

Loans at Home a subsidiary of Non-Standard Finance (NSF) has entered administration. The doorstep lender has applied for administration following extensive discussions with the Financial Conduct Authority (FCA). In a company statement, NSF said that the Directors of SD Taylor (trading as ‘Loans at Home’) reluctantly concluded that the Loans at Home business is no…

DSW Debt Advisory appoints new Manager

15th March 2022 Appointments |

Business debt funding specialist, DSW Debt Advisory (part of the Dow Schofield Watts Group) – has announced that it appointed Chris Carter as Manager. Carter, who will be based in the Daresbury office, has over 15 years’ experience in banking, investment and corporate finance. Having started his career with HSBC and NatWest, he worked with…

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