Credit, Collections & Insolvency News
Latest figures from Energy UK show that domestic customer energy debt is likely to have hit a record £6 billion in the first half of this year and – with the price cap for October expected to be at a three year high which see energy debt reach £7 billion by the end of 2026. Energy UK had already warned about the growing debt problem earlier this year in a report, which revealed that the…
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Two-thirds of homeowners under 30 have mortgages lasting 30 to 40 years, with borrowers typically repaying them by age 59, according to analysis of 190,000 borrowers by Sprive. Analysis of more than 190,000 homeowners shows that two thirds (66%) of mortgage holders under 30 are now on terms of between 30 and 40 years. By…
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Debt charity, StepChange, has announced that it has enhanced its cybersecurity with digital transformation specialist ANS’ Security Operations Centre (SOC) service, giving the charity access to round-the-clock cybersecurity monitoring and threat detection without significantly expanding its internal security team. As demand for digital debt advice continues to grow, StepChange’s 2030 strategy focuses on delivering secure, resilient online…
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Outsourcer and software provider Target Group has announced the appointment of Paul Lynam as a Non-Executive Director. Lynam brings more than 35 years of leadership experience across the banking and financial services sector. He has held several senior executive and board positions, including serving as Chief Executive Officer of Equiniti Group and Secure Trust Bank.…
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Latest data analysis by FICO has shown that average credit card spending increased by 5.6% to £835 in June. The average active balance increased 1.4% to a record £1,975, marking a 4.7% increase on a year earlier, while the proportion of balances repaid fell 2.4% month-on-month to 33.3%, with this 4.4% below June 2025. Missed…
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