29th September 2023 - Credit Connect

Cost of living crisis far from over for low paid workers

29th September 2023 Arrears and Recoveries |

Despite inflation easing, new research from the Living Wage Foundation shows that the cost-of-living crisis is far from over for Britain’s 3.5m low paid workers. Polling of over 2,000 workers earning less than the real Living Wage, by Survation, found that levels of financial hardship amongst low paid workers remained high and well above pre-cost-of-living-crisis figures. The…

Eight in ten consumers struggle to break even or overspend each month

29th September 2023 Arrears and Recoveries | #consumer spending #debt #featured

More than a quarter (26%) of UK consumers are spending more than they earn each month, according to early findings from the 2023 European Consumer Payment Report, conducted by credit management services provider Intrum. Of those overspending, the average amount was £190 a month – adding up to £2,280 a year. Another 53% said they…

Young disabled people hit disproportionately by cost of living crisis

29th September 2023 Consumer Collections |

Almost two million disabled people across the UK have contacted debt advice charities for support over the last 12 months*as they continue to suffer disproportionately from the cost of living crisis, according to research from responsible lender, Creditspring. The research found that one in eight (12%) disabled people contacted debt advice charities over money…

PayPlan to become Trauma Research partner

29th September 2023 Company News |

Debt advice provider, PayPlan has committed its support to Trauma Research UK by becoming its first referral partner. Trauma Research is a national charity dedicated to making a difference, providing support and recovery programmes to those who are suffering or have experienced trauma. The partnership means all Trauma Research UK clients who flag outstanding debts…

Glenhawk adopts LendingMetrics agree partnership

29th September 2023 Company News |

Short-term property finance provider, Glenhawk has announced that it is set to transition to auto-assisted credit decisioning following its adoption of LendingMetrics’ ADP platform. David Wylie, Commercial Director of LendingMetrics, said “We are delighted to have been chosen by Glenhawk which, after undertaking in-depth research into all the available auto underwriting platforms, decided that ADP…

Money Statistics: September 2023

29th September 2023 Arrears and Recoveries | #money statistics

Here is an overview of The Money Charity’s latest statistics for September 2023 Personal debt in the UK People in the UK owed £1,843.8 billion at the end of July 2023. The average total debt per household, including mortgages, was £65,661 and per adult was £34,666, around 100.3% of average earnings. Net mortgage lending increased by…

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