30th November 2022 - Credit Connect

Consumer credit borrowing increased in October

30th November 2022 Consumer Lending | #consumer credit

Consumers borrowed an additional £800 million in consumer credit in October according to the Bank of England’s latest money and credit figures. Credit increased £200 million when compared to the £600 million borrowed in September but was below the previous six-month average of £1.3 billion. The figures show that new borrowing of mortgage debt by…

Banks leaving customers vulnerable to spoofing scams

30th November 2022 Consumer Lending | #fraud

Some banks may be leaving customers vulnerable to fraudulent spoofing attempts, according to an investigation by consumer group Which? Spoofing, where fraudsters impersonate legitimate companies, such as banks, utilities providers or government agencies, is a common tactic used to deceive victims. Ofcom estimates that 40.8 million UK adults have received a suspicious call or text…

Food price inflation hits new high of 12.4%

30th November 2022 Consumer Collections | #food inflation

Food price inflation hit a new high of 12.4% in November as the price of basics such as eggs, dairy products and coffee increased. Inflation rose to 14.3% from 13.3% in October –with rises expected to continue into next year according to the latest data from the British Retail Consortium.The research showed that shop price…

Capitalise and Experian launch business credit review service

30th November 2022 Commercial Credit Management |

Capitalise has announced a partnership with Experian. The Credit Review Service, will have the ability to quickly improve their business credit score using new, relevant information, including data from their management account and debtor book. Working with a team of expert analysts, customers will determine whether newly submitted information will result in a positive outcome2 within…

Lender expands senior leadership team

30th November 2022 Appointments |

Responsible lender Creditspring has expanded its senior leadership team with a new Vice President of Operations, Head of Credit Operations and Head of Data. Creditspring’s new Vice President of Operations, Hannah Matson, joins from merchant bank BDT & Company International where she was Regional Manager for the Business Administration and hired to support their European expansion. Previous…

Proportion of clients with energy arrears falls

30th November 2022 Arrears and Recoveries | #energy debt

Latest StepChange debt charity client data from October 2022 shows the cost of living is still the number one driver of debt among new clients, although the proportion of new clients with gas and electricity arrears fell compared to September. Since the start of October, when the government’s energy price guarantee was announced, the proportion of…

One in four are very worried about getting into serious debt over the next six months

30th November 2022 Arrears and Recoveries | #debt #enforcement

Almost one in four (24%) people in England and Wales are very worried about getting into serious debt over the next six months, rising to over a third (36%) among those with children, new independent research from the Enforcement Conduct Board (ECB) has found. The ECB has been created with agreement between the enforcement industry…

Consumers may feel pressured to spend more than they can afford this Christmas

30th November 2022 Arrears and Recoveries |

Faced with the cost of living crisis and interest rates continuing to rise, many consumers may feel pressured to spend more than they can afford this Christmas, increasing their risk of ending up in debt they struggle to get out of according to research by NerdWallet. As part of the company’s new 2022 Household Debt…

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