24th March 2025 - Credit Connect

Retail store closures hit second lowest level in a decade during 2024

24th March 2025 Business | #retail store closures

New data from PwC has found that retail stor closures have stabilised sitting at -3,802 stores across high streets, retail parks and shopping centres. The results for 2024 show that retail is witnessing a promising recovery as chain outlet closures fall to their second lowest level in a decade, with 12,804 closures reported. This marks…

Households urged to act to dilute the impact of April water bill rises

24th March 2025 Consumer Collections | #water bills

The Consumer Council for Water (CCW) is urging households to steal a march on April’s wave of bill rises through simple actions, which could help shave hundreds of pounds off water and energy costs. The consumer body is concerned many of the most vulnerable households will struggle to cope with next month’s ‘perfect storm’ of…

One in three pensioners feel less financially secure than a year ago

24th March 2025 Consumer Lending | #pensioners

A new report by Age UK has warned that groups of pensioners are still struggling with the cost of living, with one in three (34%), equivalent to 4.1 million pensioners stating that they felt less financially secure heading into 2025 compared to when 2024 began. The Charity’s new report highlights its concerns about the impact on older…

Tech companies shut down over suspected monthly direct debit scam

24th March 2025 Commercial Credit Management | #fraud

Two connected technology companies which claimed to protect people online and enhance their social media image have been shut down by the Insolvency Service following concerns they were running a direct debit scam. Manchester-based companies Affinity Technology Solutions Limited and RCSR Tech Limited were both wound-up at the High Court. Affinity claimed to offer a…

Consumer confidence increased marginally in March

24th March 2025 Consumer Collections | #consumer confidence

Latest data from GfK’s consumer confidence index showed that it increased by one point in March to minus 19, despite analysts expecting a drop. Sentiment about the performance of the UK economy over the past year and its potential to gather momentum in the coming year improved in March. However, consumers became slightly more pessimistic…

Arrears on household bills increase 25%

24th March 2025 Arrears and Recoveries | #arrears

StepChange Debt Charity’s 2024 Statistics Yearbook, published to mark the start of Debt Awareness Week, has revealed tha the average StepChange client is £3,911 in arrears on household bills, a jump of 25% from £3,124 in 2023. Overall, the average amount of debt per StepChange client jumped 7%, from £16,706 in 2023 to £17,936 in…

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