Household financial wellbeing declined faster at the end of 2020 than at any time during the five years prior to the Covid-19 pandemic, according to the Scottish Widows UK Household Finance Index (HFI). The headline seasonally adjusted index which measures households’ overall perceptions of financial wellbeing registered at 41.1 during the final quarter of 2020,…

A new report by Lowell has revealed that 51% of households are expecting to be worse off financially due to Covid-19 – together with the fact that 93% of the UK had their pay date in December brought forward, meaning that 39% of households will struggle financially (an increase of 32% from last year). Longer…

Credit Connect has published its second annual Credit & Collections Technology company power list for 2020. The power listed is a round-up of the most prominent innovating companies within credit and collections technology. Within the list, Credit Connect has identified the top 20 ‘Premier’ innovators highlighting the achievements and successes of the top-performing companies. The…

Here is an overview of The Money Charity’s latest statistics for December 2020 Personal debt in the UK People in the UK owed £1,688.5 billion at the end of October 2020. The average total debt per household, including mortgages, was £60,580 and per adult was £31,867, around 109.1% of average earnings. Net mortgage lending rose by…

Ofgem has today published its annual report on the Warm Home Discount (WHD) showing that vulnerable customers benefited from over £348m of support from suppliers last winter. The WHD is a government scheme administered by Ofgem requiring larger and medium-sized suppliers to provide support to customers living in fuel poverty. Last winter, all 19 obligated…

Water retailers must keep doing everything in their power to help struggling businesses impacted by Covid-19 pandemic get back on their feet without the threat of debt recovery action according to the Consumer Council for Water (CCW). The CCW says that it has been helping retailers resolve a rise in billing disputes over the summer…

New research from Citizens Advice has shown that 2.1million households are behind on their energy bills, 600,000 more than in February. The charity’s research also reveals a quarter of all energy customers, up to seven million households, worry they won’t be able to pay their bill this winter. According to data, the charity has obtained…

One in seven (14%) of people have fallen behind on essential bills, including energy, water, mobile phone and broadband bills, council tax, rent or mortgage payments, the equivalent of seven million people in the UK, according to new research from Citizens Advice. A poll of 6,004 people, conducted by ICM Unlimited for the charity, also…

Ofgem has appointed Scottish Power to take on supplying Yorkshire Energy’s (also known as Daisy Energy) 74,000 domestic customers and a small number of non-domestic customers. Scottish Power is offering customers a competitive tariff.  Outstanding credit balances, including money owed to both existing and former domestic customers of Yorkshire Energy, will also be honoured. Scottish…

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