Here is an overview of The Money Charity’s latest statistics for April 2018: Personal debt in the UK People in the UK owed £1.578 trillion at the end of February 2018. This is up from £1.53 trillion at the end of February 2017– an extra £1,169.92 per UK adult. Per adult in the UK that’s an average debt of…

A third of millennials could be forced to rent in retirement, according to a report from the Resolution Foundation. Up to half of that generation could also be renting into their 40s, and around 40 percent are renting at the age of 30. A Resolution Foundation statement says: “Our estimates suggest that if recent conditions…

The Credit Services Association (CSA) is concerned that new guidelines for debt advisors could keep customers in debt for longer by failing to reflect their true financial position, and in the worst case push them into unnecessary and potentially damaging insolvency. The CSA believes that the revised guidelines – presented by the Money Advice Service…

The Credit Services Association (CSA), has announced the first of the major sponsors for the 2018 UK Credit and Collections Conference (UKCCC), which this year moves to Crowne Plaza, Stratford Upon Avon. Conexus Recovery and Field Services, which has clients across the banking, utilities, retail and debt purchasing sectors, is returning as a sponsor and…

The Financial Conduct Authority (FCA) has published its business plan for 2018/19 which sets out the key priorities for the coming year. The FCA says the priorities in this year’s business plan reflect the high level of resource needed to dedicate to European Union (EU) withdrawal, given its impact both on our regulation and the…

New research by Landbay has found that tenants now spend more than half their income on rent. The Landbay Rental Index, powered by MIAC, found that rental payments now account for over half (52%) of the average take-home pay of £1,471 for people living and working outside the capital. The average rent paid in the UK…

New figures released by the Finance & Leasing Association (FLA) shows that growth has continued in the second charge lending market in February, compared with the same month in 2017. Commenting on the February 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance…

New figures released by the Finance & Leasing Association (FLA) show growth of 10% in consumer finance new business in February, compared with the same month last year. Credit card and personal loan new business together grew by 10%, compared with February 2017, while retail store and online credit new business increased by 9% over…

Following a detailed consultation and analysis, Account in Bankruptcy (AiB) has announced that it is recommending to Scottish Ministers that it introduces the Standard Financial Statement (SFS) for assessing the income and expenditure of debtors from October 2018. The Standard Financial Statement has been introduced across the UK as a unified method for assessing a debtor’s…

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