Household debts (excluding mortgages) are on the rise in the UK, according to the Office for National Statistics (ONS). Total household debt in Great Britain was £1.28 trillion in April 2016 to March 2018, of which £119 billion (9%), which suggests that average household debt rose to £9,400. £1.16 trillion (91%) was property debt (mortgages and…

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…

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…

Households struggling to pay their council tax are being pushed into further debt as outdated regulations see councils resort to bailiffs to collect arrears, says Citizens Advice in its latest research.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…

A decade of low pay has driven working families deep into the red, and in nominal terms, household debt has risen 1.5 times faster than wages since 2010. according to new analysis published by the TUC. Real wages in the North East still haven’t recovered to their 2008 levels – the longest pay squeeze in centuries.…

Here is an overview of The Money Charity’s latest statistics for October 2019: Personal debt in the UK People in the UK owed £1,650 billion at the end of August 2019. This is up from £1,604 billion at the end of August 2018, an extra £876 per UK adult over the year. The average total…

Here is an overview of The Money Charity’s latest statistics for September 2019: Personal debt in the UK People in the UK owed £1,647 billion at the end of July 2019. This is up from £1,600 billion at the end of July 2018, an extra £888 per UK adult over the year. The average total…

An investigation by the real estate adviser Altus Group has revealed that, during the last financial year (2018/19), over 78,000 non-domestic properties from shops to restaurants to pubs to factories were referred to Bailiffs to levy ‘distress’ and to seize their goods having fallen into arrears with business rates. Bailiffs are instructed by Councils, once…

In a major reform to civil enforcement, the Civil Enforcement Association (CIVEA) has announced the launch of a new an independently-monitored code of practice that sets a new standard for bailiffs. All members of the Civil Enforcement Association (CIVEA), representing over 90 percent of firms employing enforcement agents (bailiffs), have signed up to the code,…

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