Credit, Collections & Insolvency News
The Joseph Rowntree Foundation (JRF) is warning that the nation’s health can’t be protected only through NHS reform, as new JRF-backed research by the King’s Fund health and care think tank exposed the staggering toll poverty is taking on NHS services. With almost four million people in the UK facing destitution in a single year,…
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Missed payment rates among mortgage holders have returned to levels seen at the height of the cost of living crisis, Which?’s latest consumer insight tracker finds, as the Spring Budget leaves some feeling low about their future household finances. In the month (up until 8th March), 8.1 per cent of mortgage holders missed essential payments…
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Nearly 800,000 people endured a toxic cycle of entrenched mental health problems and long term financial difficulties during the years from the start of the pandemic to the onset of the cost of living crisis according to analaysis by the Money and Mental Health Policy Institute. The report looks at people’s experiences of financial and mental…
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In its Business Plan for 2024-25, the Financial Conduct Authority (FCA) has set out an ambitious programme of work for the final year of its 3-year strategy to achieve better outcomes for consumers and markets. The FCA says it will continue to deliver the 13 commitments in its strategy, which focuses on preventing serious harm,…
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High inflation, interest rates, and a confirmed recession are fuelling a household debt rise, with signs of consumers increasing their reliance on credit products, deferring payments, and spreading out debts for longer to face down the rising cost of living. Equifax data reveals a sustained increase in credit card debt, with levels rising by 9.6%…
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More than half (59%) of the regulated firms that take on new business clients are leaving themselves exposed to serious red flags by not completing critical verification checks on the people running the business according to research by SmartSearch. The research found that business said that they do not always carry out essential checks, despite…
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Data from Price Bailey has revealed that 769 pubs were forced to close their doors permanently, marking a significant 48% increase from the 518 closures in 2022, the highest number in over ten years. The surge in insolvencies underscores the growing pressures on the pub sector, with the total count dropping to 38,175 from 41,015…
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