Credit, Collections & Insolvency News
The Federation of Small Businesses (FSB) is calling on Chancellor Jeremy Hunt to improve cashflow, protect jobs and incentivise growth in small businesses with just one week to go until hecdelivers his Spring Budget on 6th March. FSB National Chair, Martin McTague, said“Next week, the Chancellor must show the country he can take practical and…
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The number of restaurants closing across Britain hit a new quarterly high at the end of 2023, with more than 500 closing. 514 restaurants across England, Scotland and Wales permanently closed in the final quarter of last year, compared to 481 in Q2 2023, according to data obtained under the Freedom of Information Act by…
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An estimated 16 million adults saw less of their friends and family during the cost of living crisis, Which? warns, putting many people’s mental wellbeing at risk according to a survey by Which? The survey found that three in 10 (31%) said they saw less of friends and family due to financial pressures during the…
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New Consumer Spend data from Barclays’ annual contactless trends report has revealed that 2023 was another record-breaking year for ‘touch and pay’, further cementing it as the UK’s most popular payment method, owing to its speed and convenience. Usage grew across all age demographics, and the gap between older and younger audiences continues to narrow,…
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Research by Rathbones Group has found that nearly one in three (30%) saw their personal wealth fall as a result of their break-up in the past 10 years, while more than a quarter (26%) became wealthier after divorce. The independent study found a third (33%) of men who got divorced in the past decade emerged…
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Online budgeting specialist, IE Hub has announced two new partnerships with GamCare and the Illegal Money Lending Team (also known as Stop Loan Sharks). According to the Illegal Money Lending Team (ILMT), 56% of the people supported by the organisation in the first half of 2023 said they borrowed money from someone they thought was…
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In spite of a minor decrease in the last month of £62 in the total average amount of debt held by UK adults, average personal debt remains almost exactly equal to one year’s average earnings at 99.9%. In the year to December 2023, outstanding credit card debt increased by 9.2% (£5.8 billion), with the average interest rate on credit card…
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