The Scottish government risks missing its child poverty targets by some distance as poverty levels are set to rise rather than fall over the next five years, according to new analysis published by the Resolution Foundation. The analysis shows that, following large falls in the 2000s, relative child poverty has been rising since 2011-12. The…

A survey by Comparethemarket.com has revealed consumers attitudes towards credit and how debt is impacting their lives. The price comparison site wanted to discover the main reasons why people get into debt and how it affects their lives, in particular, their relationships and mental health. The survey found that 45% of consumers are in debt,…

Personal insolvency specialist Creditfix has been named as one of the best companies to work for in the UK. The company has been ranked 58th in The Sunday Times Best Mid Companies to Work For 2019 awards. The awards are based on anonymous feedback from a survey of Creditfix’s 390 employees, in its offices across…

A high number of consumers don’t know how to manage their finances in a responsible manner, according to research. A survey of 1,000 UK adults, carried out by personal insolvency practice Creditfix, found that only 34% of consumers admit they feel ‘in control’ of their finances. An overwhelming number (57%) said they couldn’t even confirm…

The Financial Conduct Authority (FCA) has published its second thematic review of the debt management sector, looking at commercial and not-for-profit firms that provide debt advice and administer debt management plans to help customers deal with their debts. The FCA’s first thematic review in 2015 found significant concerns with the quality of advice being given…

New research from Experian has identified 5.8 million people in the UK who are virtually invisible to the credit economy because there is little or no information available on their financial track record. In the absence of sufficient information to make a decision, these Invisibles can either be excluded from mainstream financial services or be…

The latest stress test analysis carried out by the Bank of England (BOE) reveals the core banking sector is now holding over three times the amount of capital ratio than before the global financial crisis. Consumers, on the other hand, are less prepared than they were in 2008. The UK households’ saving ratio has almost…

The Treasury has been urged to boost the living standards of low-income working families by ending the freeze on benefits and tax credits and increase them in line with inflation at the Spring Statement next week. Ministers are being warned that a failure to end the freeze this year will increase poverty and make life…

As the date of a possible withdrawal from the EU looms, more consumers than last year fear for their financial wellbeing in a post-Brexit world, with worries about a rise in the cost of food topping the list of concerns, according to new figures from YouGov, on behalf of mutual insurer Royal London. Overall, 35…

Three-quarters of people who are already in debt across the UK have had to borrow more money to cover daily living costs since receiving Universal Credit, according to new data from national debt help provider PayPlan. The survey of more than 6,000 people, who have already sought advice from the free debt help provider, also shows…

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