In the same month that the Bank of England base rate has risen to 0.75% – the highest level since 2009, debt growth has fallen to its lowest level in over a year. According to the August 2018 Money Statistics, produced by The Money Charity, debt growth per adult slowed to £900.74 in the year…

Here is an overview of The Money Charity’s latest statistics for August 2018: Personal debt in the UK People in the UK owed £1.592 trillion at the end of June 2018. This is up from £1.545 trillion at the end of June 2017– an extra £900.74 per UK adult. Per adult in the UK that’s an average debt of…

European credit management specialist Cabot Credit Management (Cabot), has announced the financial results for the six months ending 30th June 2018. Commenting on the figure Ken Stannard, Chief Executive Officer, Cabot Credit Management, said As Encore announces the completion of its acquisition of the remaining interest in Cabot Credit Management, our company has yet again delivered…

Latest figures released by UK Finance has shown that mortgage arrears and possessions are continuing to decline. The figures indicate that there were 76,740 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance in the second quarter of 2018, 8 per cent fewer than in the same quarter of the…

The total council tax owed in England has risen by 6.6% in the past year. The Ministry of Housing, Communities & Local Government figures show that in 2017-18 local authorities collected a total of £28.0 billion in council tax, irrespective of the year to which it related. This was an increase of £1.4 billion, or…

The Bank of England (BoE) Monetary Policy Committee (MPC) has today voted to increase interest rates to 0.75 percent, its highest level since 2009. Commenting on today’s decision by the Bank of England’s Monetary Policy Committee to raise interest rates by a quarter of a percentage point, StepChange Debt Charity urges policymakers to keep a…

Public sector outsourcing spend has increased sharply in the first six months of 2018 despite a backdrop of Brexit uncertainty, according to the Arvato UK Outsourcing Index. Overall, £2.61 billion of outsourcing deals were signed between January and June, of which £998 million were government contracts. The total value of public sector spending was up 39…

Ofgem has chosen Octopus Energy Limited to take on supplying the customers of Iresa, which went out of business last week. The appointment follows a competitive process run by Ofgem to get the best deal possible for Iresa’s customers. Octopus Energy is offering Iresa’s customers its “Flexible Octopus” tariff, which is one of the most competitive…

The Insolvency has published the latest personal insolvency figures for England and Wales which indicate that total individual insolvencies continued to increase in Q2 2018, reaching the highest quarterly level since Q1 2012.  The Insolvency Service says that this was driven by increases in individual voluntary arrangements (IVAs), which reached a record high, and debt…

New research on the UK car finance market has found that payments have now hit over £1 billion a month according to Kwik Fit. Kwik Fit has found, the average payment is now £226.12 per month. The North West was the region with the most drivers paying finance, 867,000, while Wales had the smallest finance…

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