Here is an overview of The Money Charity’s latest statistics for November 2020 Personal debt in the UK People in the UK owed £1,685 billion at the end of September 2020. The average total debt per household, including mortgages, was £60,449 and per adult was £31,798, around 110.3% of average earnings. Net mortgage lending rose by…

Bank of England (BoE) latest data on lending shows that households repaid £600 million of debt in October,  the repayment matches the same amount as September. This means the total repaid since the end of March now stands at £15.6 billion. Credit card debt has fallen by 13% over the past year, with consumers having…

The winners of the 2020 Credit & Collection Technology Awards have been announced following a live interactive virtual awards broadcast yesterday (Thursday 19th November). The awards are the flagship event for innovational technological professionals working in credit and collections and the fourth annual event honoured the UK’s technological innovators, celebrating outstanding achievement across nineteen hotly…

The Financial Conduct Authority (FCA) has confirmed updated guidance to firms setting out enhanced support that should be available to consumer credit customers experiencing payment difficulties as a result of coronavirus. The guidance covers users of personal loans, credit cards, store cards, catalogue credit, rent to own, buy now pay later, pawnbroking, motor finance and…

Average spending on credit cards has levelled after previous months’ increases, whilst rates of one missed payment fell according to new analysis by FICO. The analysis of card trends for September 2020, highlightedthe continuing impact of Covid-19 on household finances even while furlough and payment holidays remained in place during the month. Stacey West, principal…

Credit Connect Media will host a free live webinar on Tuesday 15th December which will showcase innovation in mobile collections technology. The webinar titled ‘Agile collections technology that’ll outlive the pandemic’ is the latest in the series of Credit Connect webinars which have looked at the latest thematic innovations enhancing collections strategy. The event partner…

Data published by UK Finance reveals that contactless payments by debit card reached record levels in August, accounting for 62 per cent of all debit card transactions. Just under half (45 per cent) of all credit card transactions were contactless, with the number of contactless credit card transactions in August increasing 14.6 per cent compared…

Young people have lost out the most from the initial national lockdown and other restrictions, according to new data from NatWest Group. On average, around one in five (21%) residents in Britain has experienced an income fall of 20 per cent or more. Young people across the country have been disproportionately impacted, with 27 per…

1 2 3 72