Credit, Collections & Insolvency News
Debt-technology collections specialist Trustfolio and Birmingham City Council have been jointly awarded a ‘Highly Commended’ award at IRRV Performance Awards 2022. The awards was in the Excellence in Innovation (debt management) category. Commenting on the award Jonathan Woodward, Birmingham City Council said “We were delighted to have been awarded a ‘Highly Commended’ in this category…
Read moreOne in seven people in the UK are skipping meals or going without food, a new TUC poll has revealed today The poll carried out for the TUC by Opinium showed that 14% people across the UK are having to skip meals or go without food to make ends meet. However, in nearly 50 (47)…
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Ofwat and CCW have asked water company executives to set out how they will support households struggling with affordability, particularly as inflation hits customers who would not be eligible for social tariff or other financial support mechanisms. In a joint letter to water and wastewater company CEOs, David Black, Chief Executive of Ofwat and Emma…
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Nine in ten (93%) parents are cutting back on spending to get through the October half term, according to Comparethemarket’s latest Household Financial Confidence Tracker. The research also found that the cost of childcare during the holidays is causing stress for the majority of families in the UK. Almost two in three (62%) parents with children…
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Cost pressures, falling revenues and a growing reliance on debt to prop up cashflows are among the gloomy findings of the latest Small Business Index (SBI) from the Federation of Small Businesses (FSB). The quarterly temperature-taking survey reveals the greatest level of pessimism among small business owners outside of lockdowns, with a net confidence score…
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As the Government’s £400 energy rebate hits people’s accounts this month, new research from Opinium finds that positively more than four in five (83%) think it will help them financially. However, the research suggests that, for a significant proportion, the rebate may not be quite enough to enable people to be comfortable this Winter as…
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Gambling treatment and support services need to dovetail better with debt advice, to ensure that recovery pathways for people affected by gambling harm are more likely to succeed, according to a new report by the University of Bristol in conjunction with StepChange Debt Charity, supported by the Gambling Commission. The report finds that gambling is…
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The EY Item Club estimates a 0.3% fall in GDP for the whole of next year, downgrading a previous forecast of 1% growth. It is predicted that GDP should return to growth in H2 2023. before expanding 2.4% in 2024 and 2.3% in 2025. It expects GDP to grow by 4.3% overall this year, with…
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UK Finance has shared its latest credit and debit card data which has highlighted an increase in credit card usage in July when compared to 2021. The data showed that there were 343.8 million credit card transactions in July, 9.8 per cent more than in July 2021. The total spend of £18.8 billion was 17.1…
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Experian has announced that its Boost data service will now be included in NewDay’s credit card decisioning process. Commenting on the partnership Sigga Sigurdardottir, Managing Director, Consumer Services at Experian, said “The addition of NewDay will allow more Boost users to improve their creditworthiness and access the right financial products for them. As economic uncertainty…
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