Credit, Collections & Insolvency News
Eight out of ten (82%) people who live in shared rented properties say that the rising cost of household bills is likely to cause more arguments between them and their housemates within the next six months, according to new research from Comparethemarket. Nearly three-in-five (58%) say that higher energy bills are already causing tension among renters…
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Anti-money laundering specialist (AML) SmartSearch has promoted Tom Dockerty to the position of Vice President of Professional Services Sales. Dockerty has been a key part of the SmartSearch sales team, having joined as one of the company’s first sales executives almost 11 years ago. His promotion to Vice President follows the continued success of the…
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The latest UK Consumer Prices Index (CPI) figures, published by the Office for National Statistics, show that CPI rose to 11.1 percent in the twelve months to October, up from 10.1 percent in September A jump in energy costs, despite the Energy Price Guarantee (EPG), and rising food prices, which rose by 16.4 per cent…
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Cases of fraud have continued to soar as the cost-of-living crisis pushes households to breaking point, according to fraud prevention service Cifas. In its Fraudscape report, Cifas figures reveal that the UK could be heading into 2023 with unprecedented levels of fraud. In the first nine months of 2022, over 309,000 cases were recorded to…
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Latest Office of National Statistics (ONS) data has revealed that Inflation jumped to a 41-year high of 11.1% in October, exceeding expectations as food, transport and energy prices continued to squeeze households and businesses. Economists had projected an annual increase in the consumer price index of 10.7%, and October’s print marks an increase from the…
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1.7 million people across the UK are borrowing from high-cost lenders in order to pay off existing debts, according to research by Creditspring. The research found that a quarter of people (24%) who borrowed from high-cost lenders sought credit so they could repay other debts. The same proportion (24%) who borrowed from high-cost lenders admitted…
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Nine in ten British small business owners are concerned about the impact of the cost-of-living crisis on their enterprise (92%), peaking for those businesses in retail (97%) and hospitality (98%). Rising third-party costs (73%), energy and rent price rises (63%) and customers reigning in spending (58%) were the top concerns. At a time when inflation…
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The Civil Enforcement Association (CIVEA) has welcomed the launch of a ground-breaking oversight body Enforcement Conduct Board (ECB). A new unique partnership between the debt advice sector and the enforcement industry, with support from the Centre for Social Justice (CSJ), has led to the establishment of the ECB. The ECB was formed as an independent,…
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