New research from NS&I has revealed that 14% of Britons (7 million people) think they may have lost track of a financial product, highlighting the staggering amount of money left dormant with UK financial services providers. And it’s not just savings accounts, with a fifth (20%) admitting there is a possibility that they have lost…
The Government has been urged to put £2 billion back into Universal Credit (UC) to boost the living standards of almost 10 million parents and children in working families in the Budget by the Joseph Rowntree Foundation (JRF). JRF says its new analysis shows almost three million children are now locked in poverty despite living in…
The Treasury Committee has published its response to the Household Finances Report from July. Commenting on the response, Rt Hon. Nicky Morgan MP, Chair of the Treasury Committee, said “In its report, the Committee expressed concern about the over-zealous debt collection practices of public authorities. The Government’s rehashing of existing policies in its response adds…
People over the age of 45 who have failed to make debt repayments are three times more likely than under 25s to have a credit card balance not settled in full every month, according to the latest Arrow Global consumer research. Delving further into the findings on those who have failed to make debt repayments,…
Competition is benefiting more energy consumers but many others, especially the vulnerable, are still getting a poor deal, according to Ofgem’s annual State of the Energy Market report. A quarter (25%) of customers are with small and medium-sized suppliers as more people switched to get a better deal. The market share of the six largest…
The latest Aldermore Future Attitudes study has revealed that a third (33%) of bosses at UK small and medium-sized enterprises (SMEs), equating to 1.81 million* firms with fewer than 250 employees, have personally suffered from anxiety, depression or another kind of mental health problem in the past five years. The report, which surveyed over a…
New statistics published by StepChange Debt Charity have laid bare the alarming scale and changing nature of problem debt in the UK. They show that 326,897 people contacted the charity for help with their debts in just the first six months of 2018. Of the 180,644 who received full debt advice and a recommended debt…
In its state of the nation report, Poverty in Scotland 2018, the Joseph Rowntree Foundation (JRF) has warned that one in four (230,000) children in Scotland live in poverty. The report comes as Challenge Poverty? Aye we can! gets underway, a campaign by the Poverty Alliance which shows how poverty in Scotland can be solved and allow everyone to take part…
New online research from Equifax has revealed nearly one third (31%) of people believe they won’t be able to pay off debt within their lifetime, and over one in 10 (12%) say they won’t even be able to reduce their debt levels. The survey, conducted with Gorkana, indicates those aged 18-24 are the most pessimistic about…
Over 1.5 million renters across the UK could be at risk of losing their deposits after new research from comparethemarket.comreveals that one third (33%) of renters know that their landlord has not placed their money into a Government-backed deposit protection scheme (DPS). Despite the legal obligation which requires landlords to put deposits into schemes such…