Credit, Collections & Insolvency News
The data suggests that the Midlands is the region of the UK hit hardest by the rising cost-of-living according to research by Lowell. Lowell’s latest Financial Vulnerability Index shows 41% of all areas that became financially worse off this year are in the Midlands region, with areas in Birmingham, Leicester and Coventry became financially worse…
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Latest research Hargreaves Lansdown has found that the average renting household has just £180 left at the end of the month, while a household with a mortgage has £337. Renters are less likely to have enough emergency savings to cover three months of essential spending. Only 45% cross the threshold, compared to 72% of those…
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More than 2.2 million people in Britain live in areas without any banks, while millions more have access to only one branch, forcing them to travel long distances for face-to-face services. Major UK banks have closed over 80% of their branches in the past eight years. This means over half of the UK’s banking network…
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Future generations of retirees are likely to be poorer than those of today, according to new data published by the International Longevity Centre (ILC) which reveals a startling decline in the share of wealth held by those under 40. Analysis of ONS population data shows that in 2010/11, people under 40 made up just over…
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Insolvency firms face being formally regulated for the first time under reforms to be announced next week that will nevertheless fall short of a pledge to establish a new regulator according to Sky News. The news service says it has learnt that the Insolvency Service, which is part of the Department for Business and Trade,…
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