Credit, Collections & Insolvency News
New research published by Citizens Advice has predicted that £145-a-month hikes to energy costs in October could mean one in four adults, equivalent to 14.5 million people, will be unable to afford their bills. The figure is up from around five million saying they already can’t afford April’s price increase of £60-a-month. The charity included…
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People suffering financial hardship should receive better support from phone and broadband providers under proposals published by Ofcom. Ofcom’s recent research, around 1.1 million households (5%) are struggling to afford their broadband. That rises to around one in ten among the lowest-income households. With affordability problems only likely to worsen this year because of the…
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A Property Tracker Report from the Building Societies Association (BSA) has highlighted that mortgage affordability is a growing barrier to buying a home. The data reveals that just 18% of people think now is a good time to buy a property. This is the lowest figure seen since the Report began at the height of…
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The Bank of England (BoE) has raised interest rates from 0.5% to 0.75% as it looks to tackle soaring inflation, which has hit a three-decade high of 5.5% and is set to climb higher still. The rate increase, the third in four months, takes rates to the highest level since March 2020. The Bank has…
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Nine in ten (95%) of adults are concerned about the rising cost of living, with households across the earnings spectrum worried with as much concern among those with six-figure incomes as lower-earners according to new research by mutual insurer, Royal London. Women are the most worried, with a third (33%) mentioning they are extremely worried…
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STAR Asset Finance Group Has appointed Paul Slapa as its Group Commercial Director. Slapa was previously a founder and commercial director at Praetura Enterprise Finance and brings over 15 years of experience to the STAR Asset Finance Group. While at Praetura, Slapa was focused on creating partnership style relationships with customers, helping ease their cashflow…
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Ecospend has announced a partnership with Anglian Water where it will begin processing customer payments using open banking technology. Pay-by-bank technology will enable Anglian Water to receive instant account to account payments, which will reduce the utility provider’s processing costs. The partnership will also enable a range of new payment functionalities for Anglian Water customers…
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Vulnerability Registration Service (VRS), has agreed a new partnership with data-driven technology company, Connected Data. The partnership with the Vulnerability Registration Service means that organisations working with Connected Data will now have access to the only UK wide database that provides a view on those individuals who are registered as vulnerable. This means that both…
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