One in three consumers expects to retire with an average debt of £17,460 this year according to new research by Key. The research has found that the debt will take three-and-a-half years to clear. Initial findings from this work suggest that the ‘Retirement Class of 2020’ faces significant debt challenges with more than one in…

Unsecured debt hit a new peak of £14,540 per household in 2019 according to TUC analysis. Meaning that the average household debt is now 31% above its peak before the financial crisis. The analysis shows that unsecured debt per household rose to £14,540 in the third quarter of 2019, which is up £430 on a…

Credit Connect Media will host its first free live webinar in February. The webinar titled “How to accelerate effective collections with digital transformation” will be the first of a series of webinars looking at the latest thematic innovations enhancing collections strategy. The first partner for the webinar will be Lightico, winner of the Contact Centre…

A noticeable levelling off of credit card lending over the second half of 2019 so far bucks a significant long-term trend, suggesting that we may see big changes in the credit market during 2020, according to the December 2019 Money Statistics, produced by The Money Charity. In 2019, after years of considerable, rapid growth, credit…

Here is an overview of The Money Charity’s latest statistics for December 2019: Personal debt in the UK People in the UK owed £1,665 billion at the end of October 2019. The average total debt per household, including mortgages, was £59,840 and per adult was £31,569, around 111.7% of average earnings. Net mortgage lending rose…

The number of County Court Judgements (CCJs) registered against consumers has risen in Q3 year-on-year, according to latest figures released by Registry Trust, making the figures the highest amount of registered judgments against consumers in the third quarter since 2017. A total of 289,971 County Court judgments (CCJs) were registered against consumers in England and…

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…

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…

Households struggling to pay their council tax are being pushed into further debt as outdated regulations see councils resort to bailiffs to collect arrears, says Citizens Advice in its latest research. Citizens Advice says under current rules when people miss a single council tax payment they automatically became liable for the full year’s bill. The…

Energy regulator, Ofgem has called for insolvency firms to treat customers more fairly when they are left in debt when energy companies collapse. Fourteen small energy firms have exited the domestic energy market since 2018. Toto Energy became the seventh small supplier to go out of business this year in October – just three months…

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