Credit, Collections & Insolvency News
The Insolvency Service has published its latest England & Wales insolvency statistics for Q3 2019 (July-September) indicating that personal insolvencies (seasonally adjusted) increased by 0.6% from Q3 2019 compared to Q2 2019, and rose by 22.7% compared to Q3 2018. The figures showed that personal insolvencies are on the increase with 30,879 individual insolvencies in…
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Here is an overview of The Money Charity’s latest statistics for October 2019: Personal debt in the UK People in the UK owed £1,650 billion at the end of August 2019. This is up from £1,604 billion at the end of August 2018, an extra £876 per UK adult over the year. The average total…
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Sales on credit are on the up despite the prevailing economic challenges as UK businesses strive to appear more attractive to potential customers, reveals the latest economic report by trade credit insurer Atradius. The Western Europe Payment Practices Barometer research report by Atradius found offering credit was being used by UK firms as a tool…
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UK consumer confidence fell by one percentage point (to -9%) in the third quarter of the year, returning to a level last seen in the final quarter of 2018, according to the latest Deloitte Consumer Tracker. Whilst consumer confidence continues to be hit by macroeconomic uncertainties, real wages remain high and were reflected in consumer…
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New research by StepChange reveals many households are struggling to cope financially, with women, younger adults and single parents disproportionately affected. Nearly a quarter (24%) of Welsh adults are showing at least one sign of financial distress according to new analysis by the debt harity. This includes 8% of the Welsh population experiencing severe debt…
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The Office for National Statistics (ONS) data has shown that UK retail sales were flat last month after a decline in August, with volumes in the three months to September up 0.6% on the previous quarter. An increase in online sales in July was largely responsible for the growth. Sales were up 3.1% year-on-year in…
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The number of first-time buyers in August reached the highest level since just before the financial crisis, according to the latest mortgage trends data by UK Finance, with 35,010 mortgage completions for new buyers – an increase of 0.7% on August last year. During the month there were 18,640 new remortgages with additional borrowing, down…
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The Spectre of a no-deal Brexit is holding back consumer spending according to the latest figures from the British Retail Consortium. The figures show that in September, UK retail sales decreased by 1.7% on a Like-for-like basis from September 2018, when they had decreased 0.2% from the preceding year. This is worse than both the…
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The Scottish Government is being urged to bring forward new game-changer policies across housing, work and social security if it is to achieve its ambitious child poverty targets. New evidence shows the cost of housing has been the main reason behind lower levels of poverty in Scotland than in the rest of the UK. But…
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Poverty is rising for all groups – even those in work – according to a new financial inclusion monitor report. The report from the University of Birmingham and the University of Lincoln shows nearly 1.6 million people falling behind with council tax payments, with six in ten people in the poorest fifth of the population reporting…
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Small firms are calling on the Government to secure a Brexit deal and come forward with radical policy interventions to arrest a dogged lack of confidence among business owners as new FSB research shows rising costs and uncertainty increasingly taking their toll.Its SBI confidence measure stands at -8.1 in Q3 2019, down more than six…
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The latest Purchasing Managers’ Index data for the service sector highlights the rising risk of a recession in the UK. The drop from 50.6 points to 49.5 points in September, means the service sector is the latest to fall below the neutral 50-points line that divides expansion from contraction. This is only the fifth time…
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A report by UK Finance has suggested that fewer than one in ten purchases will involve cash by the year 2028. The rise of contactless payments means many consumers no longer carry notes and coins and only 4% mainly use cash. The report also found that 6,240 cash machines were removed during 2018, taking the…
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