The average consumer doesn’t begin to worry about their debt until it hits £6,012, a new study has found. The research also revealed many only consider themselves to be ‘in debt’ once they are £3,882 in the red. But they only begin to see the deficit as a ‘serious concern’ when they owe more than…

People are at risk from fraudsters masquerading as enforcement agents (bailiffs) and small businesses are a popular target, according to the civil enforcement industry’s trade body Civil Enforcement Association (CIVEA). The warning comes after CIVEA identified cases of fraudsters using the government’s public register of enforcement agents to demand payments for bogus government debts. The…

The latest UK card stats reveal that the growth in credit card spending is down to 4.9% in February. In February 2018 the corresponding figure was 8.3%. However, the use of credit cards continues to increase as a payment method in the UK. There were 246 million transactions on cardholders’ credit cards in February 2019,…

Broadband, phone and TV (Media) customers must be told when their contract is coming to an end, and shown the best deals available, under new rules announced today by Ofcom. Ofcom wants customers to be able to take advantage of choice in broadband, phone and TV, and get the best deals for their needs. This…

The number and total value of small claims judgments in Northern Ireland dropped to record lows in the first quarter of 2019 compared to the same period the previous year, according to figures released by Registry Trust. There were 1,750 small claims judgments in the first three months of 2019, 22 percent fewer than in…

New figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q1 2019 was 24, 47.8% lower than in the first quarter of 2018. The rate of second charge mortgage repossessions (as a percentage of outstanding agreements) was 0.08% in the twelve months to March 2019.…

Three in ten (28%) consumers ran a ‘deficit budget’ in the past month, spending more during the month than they received in income, according to new research from R3, the insolvency trade body, and ComRes. One in six consumers (17%) spent up to £100 more than they received in income over the past month; 7%…

The number and total value of debt judgments in Jersey fell in the first quarter of 2019 compared to the same period 2018, according to figures released tby Registry Trust. There were 448 judgments registered in Jersey during Q1 2019, 17 percent fewer than in the first three months of 2018. The average value of…

Free debt advice specialist, PayPlan, has surveyed its clients to find out how being in debt has impacted their mental health. The survey found that over 85% of clients reported that being in debt negatively impacted their mental health, reporting feelings of stress (91%), anxiety (84%) and depression (68%). Almost half of those surveyed visited…

The Treasury Committee has published a new unanimously-agreed Report on consumers’ access to financial services. The report says access to financial services and financial inclusion are issues of fundamental importance to the Treasury Committee, UK consumers, and also the functioning of the economy. Everyone can be vulnerable at some point, so financial inclusion matters to everybody,…

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