22nd September 2023 - Credit Connect

Rising number of people worried about personal finances

22nd September 2023 Arrears and Recoveries |

Household money worries have hit their highest level in 2023 as year-on-year spending continues to rise, according to Nationwide Building Society’s monthly Spending Report. A recent survey conducted by the society reveals that a growing number of people are worried about their personal finances and their ability to cover basic expenses. The survey found that…

Interest rates held flat at 5.25% – business industry reaction

22nd September 2023 Commercial Credit Management |

The Bank of England has announced that it has held interest rates at 5.25%, pressing pause on rate hikes after rising relentlessly since December 2021, ending a fourteen-meeting run of rate rises. The.MPC voted 5 to 4 in favour of holding rates steady, with four members preferring a 0.25% rise to 5.5%. Commenting on the…

Bank of England pauses interest rate rises – consumer credit industry reaction

22nd September 2023 Consumer Lending |

The Bank of England has announced that it has held interest rates at 5.25%, pressing pause on rate hikes after rising relentlessly since December 2021. The news followed a surprise fall in inflation in August, despite rising oil prices, some weakness creeping into the jobs’ market, and the Federal Reserve in the US deciding to…

Half of working families on universal credit run out of food each month

22nd September 2023 Arrears and Recoveries |

The Trussell Trust has published new research that reveals the true and devastating consequences of the inadequacy of Universal Credit, with millions of families across the country struggling to make ends meet – including working households and disabled people. The research found that a third of working families (32%) receiving the benefit report struggling to…

Business and Trade Secretary pledges late payments reform

22nd September 2023 Commercial Collections and Recoveries | #late payment

The Secretary of State has said that she is committed to tackling late payments, reducing regulatory barriers and boosting exports – harnessing the two halves of her Department, Business and Trade, to focus on small firms following the Federation of Small Businesses’ (FSB) new office opening in Westminster. Business and Trade Secretary Kemi Badenoch said…

Credit & Collections Technology Industry resource guide launches

22nd September 2023 News | #featured

After months of collating industry responses, Credit Connect Media is pleased to announce the launch of a new Credit & Collections Technology Industry Guide. Credit Connect Media has teamed up with Asset Finance Policy to launch the guide after extensively surveying technology suppliers in order to better understand the landscape of technology and the offering…

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