Credit, Collections & Insolvency News
Here is an overview of The Money Charity’s latest statistics for September 2024 Personal debt in the UK People in the UK owed £1,860.6 billion at the end of July 2024. The average total debt per household, including mortgages, was £65,515 and per adult was £34,457, around 95.8% of average earnings. Net mortgage lending increased by…
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New research released by KPMG has provided insight into whether consumers would reduce some of the buying and saving behaviours that have become more prevalent during the cost of living crisis, if they had more disposable income available to spend. KPMG’s research was keen to explore whether consumers would still continue the same actions, even…
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Around 8.3 million individuals have experienced adverse credit in the last three years according to research by Pepper Money. Those who say they’ve missed a credit payment, nearly half (46%) say they have gone on to miss more than one payment. However, 1.76 million potential borrowers with adverse credit have plans to buy a property…
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New Which? research has found energy and broadband customers lost an estimated £298m and 27.3 million hours to poor customer service in a year, as the consumer champion challenges firms to make urgent improvements. Which? surveyed more than 4,000 people to uncover how many people had a customer service issue in the year to May…
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Time Finance has announced the appointment of Jess Wilkinson as an Area Sales Manager in its Vendor Finance team. Wilkinson joins the leading independent finance provider with over 15 years of experience in the financial services industry. Her previous roles include Relationship Manager and Business Development Manager at Lombard Asset Finance, as well as also…
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Support services provider MorganAsh has announced that it has appointed customer experience (CX) and customer vulnerability specialist James Edmonds as a Consumer Duty consultant. Edmonds will be working closely with the senior team at MorganAsh to support the company’s customer vulnerability proposition, and to help more firms across different financial sectors to implement MARS –…
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Criminals are targeting students following rise in money muling cases, with over 19,000 muling reports were filed to the Cifas National Fraud Database (NFD) during January-June 2024. Over 2,000 reports more than were made in comparison to the same timeframe last year. Herders favouring social media and online platforms to target at speed. Cifas members…
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