Credit, Collections & Insolvency News
Over 270,000 people in Scotland missed a council tax payment in 2023 according to analysis by Citizens Advice Scotland (CAS). The analysis by the charity of polling it commissioned from YouGov found that 276,186 people in Scotland had missed a council tax payment at least once from December 2022. On average around one in three…
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The cost of car insurance for young drivers has jumped by £644 on average in the past year, according to new Young Drivers research from Compare the Market. Car insurance premiums for motorists aged under 25 have reached £2,009 in January 2024, compared to £1,365 in the same month last year. Insurance now represents 66%…
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The average quoted price of home insurance rose by 40.6% in the 12 months to January, the highest annual increase since Consumer Intelligence began tracking prices in 2014. The rise in quoted premiums beats the previous all-time high increases of 36.1% and 25.7% set in the previous two quarters. Premiums have most commonly been quoted…
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The Financial Conduct Authority has said it will investigate the practice of requiring personal guarantees from directors of some small businesses when banks lend to them. The move comes in response to a ‘super-complaint’ made in November by the Federation of Small Businesses, which claimed that excessive requirements for personal guarantees were a ‘straitjacket’ on…
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Women are suffering the most in the financial squeeze, according to the latest figures from credit management group Intrum. A survey of 20,000 consumers across Europe shows that people are spending more of their income on essentials than they did in the past. Banks recommend following the 50-30-20 rule, suggesting an allocation of half income…
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