Average spend on credit cards was  9 percent lower than March 2020 according to latest analyst from software provider FICO . The average spend on UK credit cards increased by £13 to £560 in March 2021, with sales 9 percent lower than a year ago. The figures revealed that average spend per card is lower…

European credit management services specialist Lowell has announced strong collection performance and improving margins in its latest company results for the 3 months ending 31st March 2021. The company said collection performance has been very strong in the first quarter, performing at 112%. Cash flow continued to strengthen in the quarter with £121 million generated…

Latest figures from UK Finance have indicated that there was a  slight annual increase in mortgage arrears in Q1 of 2021. However, the figures show that the levels remain close to historically low rates. The number rose by 230 in the first quarter to a total of 77,640 homeowners with mortgage arrears of 2.5% or…

A quarter of 18-24-year-olds (young consumers) struggle to understand their energy bills according to new research from Octopus Energy and the National Literacy Trust. The research showed over 91% of the youngest bill payers couldn’t correctly identify all six key energy bill terms – including “dual fuel”, “kWh” and “tariff” – compared with just 21%…

New research from Aviva has revealed that a quarter (25%) of middle-aged (45-54-year-olds) consumers (equivalent to 2.25 million people) say their total debts have increased in the 12 months to April 2021.  This is despite headline figures claiming that consumers have saved more than £180 billion during the Covid-19 pandemic. One in five (18%) of…

New analysis by EY ITEM Club’s Interim Bank Lending Forecast expects consumer credit to grow 10.5% in 2021 and 9.1% in 2022 as consumer spending rebounds post-lockdown. Net lending via credit cards and personal loans turned negative in 2020 and remained in negative territory in the first three months of this year. Annual growth in February…

Paylink Solutions has announced it is one of four companies, alongside PayPlan, OpenWrks and Tully, that intend to merge the debt advice and finTech sector specialists. The company says that the merger will deliver tech-enabled debt advice, financial wellbeing and credit solutions group that can deliver transformative support to customers and clients across the UK.…

EQ Credit Services has released its latest UK research report into the unsecured lending sector which has revealed some startling consumer attitude shifts including a ‘new nervousness’ characterising the current credit market. This appeared most acute amongst the youngest generation (age 18-24), with over half of this group responding that they would only be prepared…

Outsourcing collections specialist Sigma Financial Group has announced the appointment of  Louise Morgan as Head of Bid Management & Solutions, who will support the firm’s growth plans both in the UK and abroad. The Sigma Financial Group, which offers ‘white label’ customer contact centre services across the energy, water, retail, financial services and telecommunications sectors.…

New figures released by the Finance & Leasing Association (FLA) have shown that consumer finance new business grew in March 2021 by 7% compared with the same month in 2020.  In Q1 2021, new business was 17% lower than in Q1 2020. The retail store and online credit sector reported growth in new business of…

1 2 3 112