Credit, Collections & Insolvency News
Ofgem has announced the energy price cap will increase to £3,549 per year for dual fuel for an average household from 1st October 2022. The increase is up 80% from the current cap of £1,971, and up 178% from the £1,277 cap in March this year. The Federation of Small Business (FSB) says that energy…
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A new report from the Resolution Foundation has examined the impact of rising energy bills on low, middle and high-income households this winter, with the price cap forecast to hit £3,600 in October and top £4,500 in January. The report notes typical energy bills will cost around £2,000 more this year than last year –…
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Business confidence in the UK has plunged into negative territory as companies grapple with a crisis from the rising cost of doing business according to the ICAEW. The research found that business confidence falls into negative territory after record peak last year with the cost of doing business now pushing UK closer to recession amid…
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New research from Aegon shows that, for the rest of 2022, adults’ top financial priorities will be meeting the rising cost-of-living (41%) and ‘just getting by’ (31%) as they grapple with the soaring cost of household staples. These findings are in stark contrast to the outset of the year when the mood of the nation…
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Ninety one percent of UK households reported their cost of living had increased in July 2022, with costs reaching crisis levels for the poorest and most vulnerable – and there’s still more to go with an 80% predicted increase on the energy cap in October 2022. This, coupled with predictions that inflation will likely reach…
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Jaja Finance has announced that it has agreed a new £250 million warehouse lending facility that will enable the digital credit card provider to continue to accelerate its growth. The announcement follows Jaja’s recent funding announcement of £120 million from private equity investors, and majority shareholders, KKR and TDR, made earlier this year. The…
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Ofgem has announced the energy price cap will increase to £3,549 per year for dual fuel for an average household from 1st October 2022. The increase is up 80% from the current cap of £1,971, and up 178% from the £1,277 cap in March this year. The price cap increase comes as Ofgem’s CEO warns…
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Indesser has reported that it has recovered £3 billion of money for taxpayers since 2015. The company says that the figures represent a key milestone in the government’s debt recovery journey and comes as the amount of debt owed to government peaked at a record £64.5 billion immediately following the pandemic. Indesser, which is part of TDX…
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Here is an overview of The Money Charity’s latest statistics for August 2022 Personal debt in the UK People in the UK owed £1,805.7 billion at the end of June 2022. The average total debt per household, including mortgages, was £64,970 and per adult was £34,140, around 108.4% of average earnings. Net mortgage lending rose by…
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