27th April 2023 - Credit Connect

Money Statistics: April 2023

27th April 2023 Arrears and Recoveries | #money statistics

Here is an overview of The Money Charity’s latest statistics for April 2023 Personal debt in the UK People in the UK owed £1,839.3 billion at the end of February 2023. The average total debt per household, including mortgages, was £65,510 and per adult was £34,582, around 105.3% of average earnings. Net mortgage lending rose by…

Scottish personal insolvencies increase by 3%

27th April 2023 Consumer Collections | #scottish personal insolvencies

Annual figures from Accountant in Bankruptcy (AiB) have indicated that personal insolvency numbers in Scotland rose by nearly 3% in the year 2022-2023. The figures showed taht there were 8,004 personal insolvencies, this was an increase of 3% on 2021-2022’s figure of 7,769, a rise of 5.3% on 2020-2021’s figure of 7,600 and a fall…

Lowell announces growth despite consumer challenges

27th April 2023 Company News |

European credit management services specialist, Lowell has announced its full-year results for the 12 months ended 31st December 2022. The company showed that cash income and cash EBITDA growth of 8% and 7% respectively YoY with Cash EBTIDA margin held flat at 59% YoY as guided. Lowell also showed a strong collection performance at 101%…

Food bank charity reports record take-up of hardship support

27th April 2023 Consumer Collections | #food bank support

New figures released by the Trussell Trust have revealed that almost 3 million (2,986,203) emergency food parcels were provided to people facing hardship between April 2022 and March 2023, with more than a million of these parcels provided for children. This is the most parcels food banks in the charity’s UK-wide network have ever distributed…

Scottish business insolvencies rise by nearly a third

27th April 2023 Business | #scottish business insolvencies

Annual figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers in Scotland rose by nearly a third (32.6%) in the year 2022-2023. There were 1,132 business insolvencies an increase of 32.6% from 2021-2022’s figure of 854, an increase of 157.3% on 2020-2021’s figure of 440, and a rise of 19.4% compared to…

LSB urges banks to join focus on financial resilience

27th April 2023 Consumer Lending |

Self-regulatory body, the Lending Standards Board (LSB), is urging firms to prepare for the financial struggles customers will face this year, as incomes are eaten away by the higher cost of everyday life. In its 2023/24 Business Plan released today, the LSB outlines how its areas of focus for the year will include financial resilience…

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