The impact of the Covid-19 pandemic was the fifth most common reason for debt according to StepChange’s Statistics Yearbook 2020, The report also reveals some noteworthy shifts in client trends and characteristics in 2020 compared with previous recent years. However, the debt charity says that what is equally striking is that all the debt pressures…

Debt collections specialist, Lantern has announced that it has achieved Double Gold ratings from Investor in Customers (IIC) and Investors in People (IIP) – independent assessments. Commenting on the achievement Tony Barritt, Managing Director of Investor in Customers said “The team at Lantern have worked incredibly hard to ensure that customers are at the heart…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in February 2021 by 26% compared with the same month in 2020. The retail store and online credit sector reported a fall in new business of 6% in February compared with the same month in 2020.  The credit…

New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes fell by 34% in February 2021 Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…

Borrowers with prime credit ratings accounted for an increased share of second-charge lending in the past six months, according to new tracker data by Evolution Money. The company’s analysis looking at its total lending data for the last six months, up until the end of February 2021, found that the product split by volume of…

The Credit Services Association (CSA), the trade association for the debt collection industry, has announced that it has appointed Jane Peacock to act as an Independent Non-Executive Director on its board. She will specialise in Further Education and Apprenticeships. Peacock has over 30 years’ experience in the education sector. Her most recent role was within the…

More than 375,000 households could be automatically switched onto more expensive ‘default’ energy tariffs in April if they do not switch tariff or provider when their fixed deal comes to an end. An additional 15 million households, who are already on their provider’s standard tariff, could face a price rise of £96 on 1st April.…

The Zinc Group has announced that it has appointed Kjartan Hearn to lead the creation of a new ‘Decision Science’ team. Hearn has joined the business from Revolut and will lead the development and growth of the new team to match the company’s aim to lead the way in portfolio and operational analysis and modelling.…

The Housing, Communities and Local Government Committee (MHCLG) has published a report urging the Government to create a coherent exit plan to help private renters tackle arrears built up during the pandemic. The report says that repeated last-minute extensions to the evictions ban must be replaced by a coherent exit plan to help the private…

Here is an overview of The Money Charity’s latest statistics for March 2021 Personal debt in the UK People in the UK owed £1,700.2 billion at the end of January 2021. The average total debt per household, including mortgages, was £60,999 and per adult was £32,087, around 107.6% of average earnings. Net mortgage lending rose by…

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