25th October 2023 - Credit Connect

One in four unable to repay energy debt

25th October 2023 Arrears and Recoveries | #energy debt

One in four people with energy debts (24%) are currently unable to repay, according to new research commissioned by National Debtline. The free debt advice service is leading a coalition of 13 organisations calling on the Chancellor to introduce a ‘Help To Repay’ scheme in the Autumn Statement. The findings, based on UK-wide research commissioned…

Nearly half of people are kept awake at night by cost of living

25th October 2023 Arrears and Recoveries | #cost of living

With the country getting an extra hour in bed as the clocks go back this weekend, Aviva’s latest study reveals that over half (51%) of the nation say they are not getting the recommended seven hours or more sleep per night. On average, UK adults were found to be getting just under six and a…

Almost 7 million people over 50 have no private pension

25th October 2023 Consumer Lending | #pensions

Almost 7 million people over 50 have no private pension, putting them at risk of retirement poverty, according to the latest research and analysis by SunLife. The research has revealed that around 2.4 million (20%) of men over 50 and 4.4 million (33%) women are relying on the state pension alone to fund their retirement, which…

Over half of adults do not have a will

25th October 2023 Consumer Lending |

New research from Canada Life has found that over half of UK adults (57%) do not have a will, equating to approximately 30.4m people. Of this, 12% said they have no intention of making a will in the future. A third (33%) of adults who are aged 55 or over have not yet made a…

Scottish council tax and rent arrears rise

25th October 2023 Arrears and Recoveries | #council tax arrears #rent arrears

New quarterly data released by StepChange Debt Charity Scotland reveals the continued impact of the wider cost of living pressures as almost two fifths of new clients (37%) responsible for paying council tax bills were in arrears between July and September, up from 31% in the previous quarter. The charity has also reported an uptick…

Authorised payments fraud increase by 22%

25th October 2023 Consumer Lending | #fraud

New figures from UK Finance show that the number of authorised push payments (APP) fraud cases increased by 22% year-on-year to 116,324 in the six months to the end of June, as a result of an increasing number of consumers being conned into fake purchases online. Figures also show the volume of these purchase scams increased by 43%…

Approved Business Finance makes two senior appointments

25th October 2023 Appointments | #appointment

Asset finance brokerage, Approved Business Finance, has announced two senior promotions, naming Mark Kozo as its new Commercial Director and Emily Skellham as Head of Credit. Kozo, formerly Marketing Director, is eager to collaborate with the leadership team in his new role to enhance the organisation’s business growth. Previously holding the position of Sales Manager, Skellham…

Pepper Advantage appoints new Group CTO

25th October 2023 Appointments |

Global credit intelligence company Pepper Advantage has announced the appointment of Narinder Auluck as Group CTO, based in London and effective immediately. A mathematician by training, Auluck has over 20 years of experience in the banking and finance sector leading digital innovation strategies at global banks including UBS, Barclays, HSBC and NatWest. Most recently, he…

One in four borrowers rely on credit to cover essential spending

25th October 2023 Consumer Lending | #credit

Higher loan rejections and limited traditional affordability checks are impacting consumers’ ability to access credit to help make ends meet, according to new research from Tink. The company’s research found that those who hold either a mortgage or loan suggest that a significant number of consumers need to find a way to bridge the gap…

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