A combination of challenging situations are bringing high pressure on young people aiming to manage their money well and achieve financial wellbeing, according to the November 2019 Money Statistics, produced by The Money Charity.The November report draws a number of statistics related to young people together into one page, giving a clearer cumulative picture of…

Here is an overview of The Money Charity’s latest statistics for November 2019: Personal debt in the UK People in the UK owed £1,661 billion at the end of September 2019. This is up from £1,612 billion at the end of September 2018, an extra £930 per UK adult over the year. The average total…

Encore Capital Group, the owner of Cabot Credit Management has announced that Ken Stannard will be stepping down from his role as Executive Director and Chief Executive Officer of its European subsidiary. Cabot has appointed Craig Buick as his successor, effective at the end of 2019 (subject to certain regulatory approvals). Stannard joined Marlin Financial…

The Credit Services Association (CSA) is launching a new Learning and Development Conference, hosted on 4th February 2020 in Leeds, which will focus on championing people development. The conference will bring together learning and development managers, HR professionals, industry leaders, and in-house collection teams, as well as current CSA apprentices and their employers. It is…

Credit Connect has announced its inaugural Credit & Collections Technology company power list for 2019. The power list is the first edition of what will be an annual round-up of the most prominent innovating companies within credit and collections technology. Within the list, Credit Connect has identified the top 20 ‘Premier’ innovators highlighting the achievements…

New research from PayPlan has revealed that Christmas is so expensive that people are now struggling to pay the rest of their essential bills. The free debt help service surveyed 1,000 people about how they are managing their finances. They found that 55% of parents will rely on their credit cards to cover their essential living…

The number of children growing up in poverty in working households has risen by 800,000 since 2010, according to new TUC analysis. The analysis reveals that child poverty in working families rose to 2.9 million in 2018 – an increase of 38% since the start of the decade. In 2010, 1 in 5 (19%) children in working households were growing up in poverty.…

Home repossessions have increased by 19 per cent to 1,330 in the third quarter of 2019 compared to the same period last year, new figures from UK Finance have revealed. UK Finance says the slight increase in possessions has been driven in part by a backlog of historic cases which are being processed in line…

New figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q3 2019 was 25, 30.1% lower than in the third quarter of 2018. The rate of second charge mortgage repossessions (as a percentage of outstanding agreements) was 0.06% in the twelve months to September 2019.…

Debt purchasing group Arrow Global is to develop its fund management capabilities after swallowing a 15.1% rise in costs related to IFRS 16. Despite the group’s profits before tax increasing 65.6% to £42.4m and cashflow increasing 14.7% to £174.4m, underlying profits fell 5.4% to £50.4m in the nine months ending in September. Commenting on the…