23rd January 2023 - Credit Connect

Business Secretary warns energy suppliers to end mistreatment of customers

23rd January 2023 Arrears and Recoveries | #energy bills

The Business and Energy Secretary Grant Shapps is calling on suppliers to do more to protect vulnerable energy users and has pledged to crack down on the mistreatment of energy users by suppliers, following reports showing some are doing nowhere near enough to support vulnerable customers. Shapps has written to energy suppliers calling on them…

More than 150,000 people needed help with crisis support for the first time in 2022

23rd January 2023 Consumer Collections | #debt support

New analysis from Citizens Advice has found a record number of people were in need of crisis support during 2022, as the cost-of-living crisis pushed more people than ever before to breaking point. The new research found that in the last 12 months, the charity helped more than 200,000 people with crisis support – which includes food bank…

Inflation concern pushes consumer confidence lower

23rd January 2023 Consumer Lending | #consumer confidence

GfK’s Consumer Confidence Index dropped three points in January to -45 amid inflation woes and growing concern about another jump in energy bills. Confidence in the general economy for the coming 12 months fell one point to minus 54 and remains 22 points lower than last January, while the forecast for personal finances increased to…

More UK sectors report output growth in December

23rd January 2023 Commercial Credit Management | #economic growth

The number of UK sectors reporting output growth more than doubled in December, according to the Lloyds Bank UK Sector Tracker. Seven of the 14 sectors monitored by the Tracker reported output growth (versus three in November) – the highest number since June 2022. However, overall UK economic activity saw a slight decline (49.0 vs.…

Personal loan rates record highest ever quarterly increase

23rd January 2023 Consumer Lending | #lending

Analysis of the latest Bank of England data on average quoted household rates by Freedom Finance has indicated that unsecured personal loan rates are growing at their fastest ever pace. Through the final three months of 2022, £5k personal loans increased by 1.92 percentage points (pp), the biggest ever quarterly increase. It takes the average…

Cost of living pressures sees debt help enquiries increase by 350%

23rd January 2023 Consumer Collections | #debt advice

Debt advice provider, MoneyPlus Advice has seen enquiries for debt help significantly increase this month already, with initial enquiries rising by 353%, compared with the same period last year. Over the last 6 months, people citing the cost of living as their main reason for financial difficulty has more than tripled, and this worrying trend…

Startline Motor Finance appoints Head of IT and Digital

23rd January 2023 Appointments |

Tamsyn Weston has been appointed as the new head of IT and digital at Startline Motor Finance. Weston’s responsibilities encompass end to end customer and introducer applications, networks, infrastructure and security. She will also be pivotal in delivering a new digital strategy as part of the company’s broader business and marketing plans. In a 30-year…

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