Credit, Collections & Insolvency News
Analysis of the latest Bank of England figures from Freedom Finance has shown that rates on all major forms of consumer credit rose again in September continuing the upward trend in the cost of borrowing that has persisted all year. Household budgets are already facing a severe winter squeeze as inflationary pressures and the spike…
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As many as 3.36 million more Britons may now be struggling with problem debt, according to new research from Ophelos. The company says that this brings the total number of people in the UK who cannot afford everyday expenses like rent or mortgages, council tax, or energy bills to an estimated 11.56 million. The new…
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New research by Aviva has suggested that feelings of anxiety are leading people, especially younger generations, to avoid looking at their finances at all, with 60% of Generation Z and millennials (aged 18-41) adopting this approach because they feel ‘they are often out of my control’. In times of heightened turmoil that is impacting households…
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Office for National Statistics (ONS) data shows that inflation has risen above 10% for the second time this year, with the consumer prices index rising to 10.1% in September from 9.9% in August. Soaring prices for food and drink were the biggest driver behind the latest cost of living increase, with an annual rise of…
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