Energy suppliers have increased the cheapest energy deals by £180 in a year, since the start of July 2020, with the new price cap level expected to rise for millions of households, according to research from comparethemarket.com. The increase comes as energy deals have reached the highest cost for more than two years. The average…

Here is an overview of The Money Charity’s latest statistics for July 2021 Personal debt in the UK People in the UK owed £1,721.3 billion at the end of May 2021. The average total debt per household, including mortgages, was £61,933 and per adult was £32,544, around 108.7% of average earnings. Net mortgage lending rose by…

Water regulator Ofwat has outlined its view that levels of bad debt costs across the business retail market are exceeding 2% of non-household revenue. Ofwat has therefore decided a temporary increase in the maximum prices retailers are permitted to charge is warranted. Measures introduced since March 2020 to contain the spread of Covid-19 could lead…

The Government has revealed proposals to trial automatic switching for customers on expensive default energy tariffs to cheaper deals, and government to tackle ‘loyalty penalty’. Business and Energy Secretary Kwasi Kwarteng published proposals to trial automatic switching for customers on expensive default energy tariffs to cheaper deals. Research has shown that while around 5.8 million…

Credit Connect’s hosted the latest edition of the Connected News series last week which saw a discussion focused on the delivery of responsible vulnerable communications strategies and the future of the sector discussed by four leading collections professionals. Banks, credit card providers, building societies, loan providers, collections specialists, utility firms and fintechs were amongst the…

New research by MoneySuperMarket has found that over 11 million consumers could see their energy bills balloon by 20% in 2021. The research found that bills for 11 million consumers on standard or default tariffs are set to rise by an unprecedented 20% since the start of the year it also found that energy bills…

Ofwat has published its survey on consumer finances during the pandemic, showing a decline in mental health correlated with those financially struggling. It found more households were worse off in the past year than previously and many anticipated that to continue in the coming 12 months Ofwat has also set out a number of actions…

Household spending fell by 11% in the first quarter of 2021 according to the latest Office for National Statistics (ONS). The ONS Consumer Trends report revealed that household spending tumbled 11% in the first quarter (Q1) of 2021, compared to the same period last year. The report shows that hotels and restaurants were hardest hit:…

Here is an overview of The Money Charity’s latest statistics for June 2021 Personal debt in the UK People in the UK owed £1,714.4 billion at the end of April 2021. The average total debt per household, including mortgages, was £61,509 and per adult was £32,355, around 108.7% of average earnings. Net mortgage lending rose by…

1 2 3 53