Energy regulator Ofgem has confirmed plans to strengthen protections for customers who are struggling to pay their energy bills this winter. Following a consultation in June, The regulator is introducing new licence rules for suppliers from 15th December. One of the rules will require suppliers to offer emergency credit to customers struggling to top up…

A new independent report, which contains 13 recommendations to address the urgent financial wellbeing implications of the Covid-19 pandemic, has been released by the Challenge Chairs who advise the Money and Pensions Service (MaPS) on the UK Strategy for Financial Wellbeing. These recommendations, which include immediate actions, such as help with credit for people coming…

The Credit Services Association (CSA) has urged its members to increase dialogue and support for customers in wake of a tough economic environment. The trade body says that regional and local lockdowns have now added to an already difficult economic environment increasing the burden of customers committed to keeping up with debt repayments and need…

European leader credit management specialist Lowell has provided a preliminary trading update for the quarter ending 30th September 2020 which indicates resilient collections figures. The results indicate that collections activity and performance has improved after a pause during the initial stage of the pandemic. The business saw a cash EBITDA increase of 9%, compared to…

Nearly two in five (38%) retirees aged 54 and over say their monthly expenditure exceeds their household’s income, either on an occasional or regular basis according to new research from equity release lender more2life and economics consultancy Cebr The research also indicated that a third (33%) of women aged over 54 who have taken on or held…

Accountant in Bankruptcy has published its latest figures which indicate that there were 7,003 personal insolvencies in the year to the end of September 2020, 3,275 (31.9%) fewer than in the same period the year before. Bankruptcies decreased by 37.5% in the year to the end of September 2020 when compared with the same period…

The Insolvency Service has published its latest figures which indicated that in September personal insolvencies in England and Wales increased to 7,450 in September 2020 compared to August’s figure of 6,372, but remained well below September 2019’s figure of 12,256 There were, on average, 4,639 IVAs registered in each of the 3 months ending September…

Pent-up demand and government incentives jolted the UK’s property market back to life this summer despite caution from lenders about the effects of Covid-19, according to a new Experian report. Experian’s research in Lending with Confidence: A data-led Analysis of the Mortgage Market has revealed that mortgage applications increased year-on-year by 13% in July, followed…

The Credit Services Association (CSA) has welcomed that Treasury’s announcement on changes to default notices ‘debt threat’ letter changes. Chris Leslie, Chief Executive of the Credit Services Association (CSA), said “The wording of these ‘default letters’ has been prescribed in old legislation for decades – so we completely agree it’s about time the law was updated.…

One in every two first-time buyers aged under 35 is receiving financial support from the Bank of Mum and Dad (BoMaD),  new research from Legal & General and Cebr has revealed. More than half (56%) of those under the age of 35 received a financial gift to help them step onto the housing ladder. In…

1 2 3 143