The Insolvency Service has published the latest personal insolvency statistics for England and Wales for Quarter 4 2018 (October to December 2018) which show that that the percentage of IVAs failing within the first year has increased for the fourth consecutive year. The figures also show that 9% of IVAs registered in 2011 and 3%…

Nearly one million (900,000) people who’ve never switched energy supplier could cover the cost of their Christmas borrowing by changing to a better deal. New analysis from Citizens Advice shows that around 3.2 million people in Britain borrowed up to £150 to cover the cost of Christmas in 2018, almost 1 million of whom have…

Here is an overview of The Money Charity’s latest statistics for January 2019: Personal debt in the UK People in the UK owed £1.613 trillion at the end of November 2018. This is up from £1.569 trillion at the end of November 2017, an extra £898.71 per UK adult and £78.15 higher than the previous month. The…

Our Power, an energy supplier with about 38,000 domestic customers, has ceased to trade. Under Ofgem’s safety net, the energy supply of Our Power’s customers will continue and pre payment meters can be topped up as normal. The outstanding credit balances of domestic customers will be protected. Ofgem will choose a new supplier to take…

Consumers are starting 2019 with outstanding borrowing from 2017, with 3.1 million people still paying for Christmas 2017 according to a new study by Sainsbury’s Bank Credit Cards. The study found more than a quarter (27%) of people have debt remaining from two years ago. This New Year, UK adults still owe money from 2017…

Slough Borough Council is to become the latest local authority to pass unpaid debts to ethical credit management firm Intrum in a bid to enhance the experience of residents and raise revenue for the borough. The agreement with H&F Ethical Collections, the joint venture partnership set up by Intrum UK and Hammersmith & Fulham Council…

New survey findings commissioned from YouGov by StepChange Debt Charity reveal that more than a quarter of us (27%) started the New Year feeling uneasy about our finances. Among people who feel uneasy, two thirds (65%) have felt this way for more than a year. A fifth (22%) have felt uneasy for more than five…

Local authorities from across the UK will next month come together to discuss ways of transforming their debt collection practices. Credit management firm Intrum UK and its joint venture partner Hammersmith & Fulham Council have launched an ethical debt collection conference to drive change in council collections after a series of reports suggested the public…

New research by Leeds Building Society found nearly a quarter of people in the UK who celebrate the festive season (24%) don’t save ahead for it at all. Conversely, 15% of those surveyed start saving in January although 39% tend to leave it much later and start putting money away from September onwards. As part…

The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase industries, has appointed Henry Aitchison, a former senior executive with the FCA and OFT, to the newly-created role of Head of Policy. Aitchison, who has a career spanning almost 20 years in consumer credit, will have a broad role supporting…