A third of loan searches carried out through Experian’s comparison services are for debt consolidation loans, new analysis has revealed. These type of loans can help consumers with outstanding debts from various lenders to roll their monthly payments into one to reduce their costs and to take more control over their finances. On average, shoppers…

The Office for National Statistics has today published its latest UK consumer price inflation figures. The figures show the Consumer Prices Index was at 2.5 percent in July 2018, up from 2.4 percent in June 2018, the first rise since November 2017. Figures also published today show that regulated rail fares are also likely to…

New figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q2 2018 was 38, 2.6% lower than in the same quarter in 2017. The annual rate of second charge mortgage repossessions (as a percentage of average outstanding agreements) in the twelve months to June 2018…

Here is an overview of The Money Charity’s latest statistics for August 2018: Personal debt in the UK People in the UK owed £1.592 trillion at the end of June 2018. This is up from £1.545 trillion at the end of June 2017– an extra £900.74 per UK adult. Per adult in the UK that’s an average debt of…

A  new report by Which? has revealed how the broken deposit system is placing financial pressure on renters, with some tenants facing weeks to get their money returned or having to challenge charges that they feel are unreasonable. The consumer champion’s findings reveal that two in five (43%) renters that faced moving costs used a…

Latest figures released by UK Finance has shown that mortgage arrears and possessions are continuing to decline. The figures indicate that there were 76,740 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance in the second quarter of 2018, 8 per cent fewer than in the same quarter of the…

Working people claiming universal credit are having their benefits capped when they shouldn’t be, and losing the effects of ‘work allowances’ worth up to £258 per month simply because of the dates on which their paydays and universal credit ‘assessment periods’ happen to fall, according to new evidence from Child Poverty Action Group (CPAG). The…

Customers of landline, broadband, TV and mobile services must be told when they are approaching the end of their minimum contract period, under new rules proposed by Ofcom. More than 20 million customers of these services are currently outside their minimum contract period, and more than 10 million are on deals with an automatic price increase…

Public sector debt collection should not be lagging behind private sector best practice, H&F Ethical Collections said today. H&F Ethical Collections is the joint venture between global credit management firm Intrum and Hammersmith & Fulham Council which was formed in 2017 to reduce the use of bailiffs and improve the treatment of people in debt.…

The Insolvency has published the latest personal insolvency figures for England and Wales which indicate that total individual insolvencies continued to increase in Q2 2018, reaching the highest quarterly level since Q1 2012.  The Insolvency Service says that this was driven by increases in individual voluntary arrangements (IVAs), which reached a record high, and debt…

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