21st March 2022 - Credit Connect

Call for Chancellor to act now to avoid devastating damage to living standards of poorest families

21st March 2022 Arrears and Recoveries | #debt

New analysis from the independent Joseph Rowntree Foundation (JRF) highlights the stark impact of a scheduled real-terms cut to benefits next month, as rising energy costs threaten to devastate the living standards of families on the lowest incomes. The analysis shows the impact of rising energy costs on household budgets. It finds that once housing…

Ukraine crisis and rising fuel prices are top concern for small businesses

21st March 2022 Commercial Credit Management |

The outbreak of war in Ukraine has had a significant impact on UK small business owner confidence. Nationally, 78% of small business owners say there are worries that keep them awake at night – and the feared implications of the Ukraine conflict have cast aside small business concerns over Covid, Brexit and red tape –…

One in seven adults is behind on at least one household bill

21st March 2022 Arrears and Recoveries | #arrears

One in seven (an estimated 7.9 million) UK adults is behind on at least one household bill and one in eight (an estimated 6.2 million) have gone without heating, water or electricity in the last three months as a result of rising costs, according to new research from the Money Advice Trust. The charity, which…

Monthly housing costs for buying is almost £1400 cheaper than renting

21st March 2022 Consumer Lending | #mortgages and rent

The monthly housing costs for first-time buyers are now £115 (13%) lower than the cost of renting an equivalent home, and the difference could add up to more than £27,600 over a 25-year mortgage, according to analysis by Halifax. The Halifax Buying vs Renting Review is based on the housing costs associated with a mortgage…

One in five people expected to be driven into debt this year

21st March 2022 Arrears and Recoveries | #debt

New polling from StepChange Debt Charity has indicated that millions of people expect to fall into problem debt this year due to the rise in the cost of living, energy price caps and National Insurance contributions . The representative survey, conducted by YouGov, shows that one in five people (21%) thinks that external financial pressures…

C&R Software and IE Hub agree partnership to support consumers in financial hardship

21st March 2022 Company News |

C&R Software and award-winning Fintech start-up IE Hub have agreed on a partnership to help consumers in financial stress. C&R Software has announced an integration with IE Hub’s online affordability system, creating sustainable payment plans for consumers meeting financial obligations. The partnership increases engagement and humanizes the collections process, making it easier for consumers struggling…

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