The Bank of England has released its latest Money and Credit statistics which show that net consumer credit fell to £0.9 billion in August, slightly below the average of the past year. The statistics also showed that the number of mortgage approvals for house purchase fell to 65,500 in August, down from the 18 month…

A new company has announced its launch as a free digital marketplace for the management, oversight and enforcement of judgment debt. The company focuses on ensuring that creditors are paid what they’re owed and that debtors are treated fairly, whilst raising standards across the whole High Court Enforcement industry. Te launch marks the first time…

Ofcom has set out a range of measures to help ensure out-of-contract broadband customers pay fairer prices, and providers offer better protection to vulnerable customers. Ofcom says that it has been concerned about some broadband customers paying high prices when their introductory offer has ended, meaning they are ‘out of contract’. Many of these customers…

In areas where Universal Credit has been rolled out for at least a year, food banks in the Trussell Trust’s network have seen a 30% increase in demand. In areas with the new system for at least 18 months this jumps to 40%, and increases again to 48% for food banks in areas with Universal…

CYBG’s SME Health Check Index, a quarterly measure of performance and outlook for UK SMEs, fell by 6.9 points to 41.9 in Q2 2019, as economic and political uncertainty continued to weigh on business confidence. The study overall, however, reveals a mixed picture, with continued resilience in the labour market, and encouraging insights on business…

Recent research carried out by Cifas, the UK’s leading fraud prevention service, has revealed that falsely claiming Single Person Discount is the third most prevalent type of fraudulent activity carried out by British adults. Single Person Discount is where a person claims to live in a single-person household in order to receive a Council Tax…

New TUC analysis has shown that unsecured debt per household has risen to record levels. The average household debt rose to £15,880 in the first quarter of 2019, up £1,160 on a year earlier. With over half of households report having unsecured debt, most commonly in the form of credit card debt (60%), overdraft (28%),…

Citizens Advice Scotland has called for action to reduce the ‘five week wait’ that claimants of Universal Credit (UC) face before receiving their first payment. In the run-up to the UK government’s spending review later this week, CAS has published a new ‘Voices From the Frontline’ briefing which summarises the impact this delay has on people,…

The UK economy contracted by 0.2% in the quarter to June 2019, the first time since 2012 that GDP has fallen, but a clearer gauge on the impact of this can be seen by viewing it on a ‘per person’ basis, according to research by the Money Charity. Gross Domestic Product, or GDP, is the…

New data from Citizens Advice shows 49% of benefit claimants affected by the benefits freeze have struggled to meet essential costs such as rent, household bills and food while 40% have lost sleep due to money worries in the past 12 months. The findings are worse for Universal Credit claimants, with over half (55%) having…