Personal insolvency specialist Creditfix has been named as one of the best companies to work for in the UK. The company has been ranked 58th in The Sunday Times Best Mid Companies to Work For 2019 awards. The awards are based on anonymous feedback from a survey of Creditfix’s 390 employees, in its offices across…
A high number of consumers don’t know how to manage their finances in a responsible manner, according to research. A survey of 1,000 UK adults, carried out by personal insolvency practice Creditfix, found that only 34% of consumers admit they feel ‘in control’ of their finances. An overwhelming number (57%) said they couldn’t even confirm…
Contactless transactions have risen 31 percent year-on-year in 2018, to latest data from banking trade body UK Finance. The current payment limit with a contactless card is £30, more than which a Pin must be used. But an increase in usage throughout 2018 is expected to lead to an increase in that maximum, although those…
The Financial Conduct Authority (FCA) has published its second thematic review of the debt management sector, looking at commercial and not-for-profit firms that provide debt advice and administer debt management plans to help customers deal with their debts. The FCA’s first thematic review in 2015 found significant concerns with the quality of advice being given…
New research from Experian has identified 5.8 million people in the UK who are virtually invisible to the credit economy because there is little or no information available on their financial track record. In the absence of sufficient information to make a decision, these Invisibles can either be excluded from mainstream financial services or be…
The latest stress test analysis carried out by the Bank of England (BOE) reveals the core banking sector is now holding over three times the amount of capital ratio than before the global financial crisis. Consumers, on the other hand, are less prepared than they were in 2008. The UK households’ saving ratio has almost…
Brilliant Energy Supply, an energy supplier with about 17,000 domestic customers, has ceased to trade. Under Ofgem’s safety net, the energy supply of Brilliant Energy’s customers, including those supplied under a ‘white label’ arrangement with Northumbria Energy, will continue and the outstanding credit balances of domestic customers will be protected. Ofgem will choose a new…
New figures released by the Finance & Leasing Association (FLA) show consumer finance new business in January was at a similar level to the same month in 2018. Credit card and personal loan new business together fell in January by 3% compared with the same month in 2018, while retail store and online credit new…
New figures released by the Finance & Leasing Association (FLA) show that the consumer that the second charge mortgage market reports volumes up by 18% in January Commenting on the January 2019 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association…
The Treasury has been urged to boost the living standards of low-income working families by ending the freeze on benefits and tax credits and increase them in line with inflation at the Spring Statement next week. Ministers are being warned that a failure to end the freeze this year will increase poverty and make life…