Credit, Collections & Insolvency News
Consumer confidence fell by three percentage points in the third quarter of 2018, down to -7% after the previous quarter’s record level of confidence, according to the latest Deloitte Consumer Tracker. The quarterly survey of 3,105 UK consumers, which took place between 21 and 29 September, recorded its first fall in consumer confidence since Q2…
Read more
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…
Read more
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,…
Read more
The Financial Conduct Authority (FCA) has published two consultation papers, setting out its proposals in the event the UK leaves the European Union on 29 March 2019 without an implementation period. It also set out its approach to the regulation of Credit Ratings Agencies, Trade Repositories and Data Reporting Services Providers. The two consultation papers…
Read more
Fraud prevention service, Cifas, has released startling new figures showing a marked increase in the number young people falling victim to identity fraud. The new figures reveal that Cifas members identified a 24% increase in cases of under-21-year-olds falling victim to impersonation fraud in the first nine months of this year, a significant rise from…
Read more
New research from Direct Line Life Insurance has revealed that over 6.9 million parents percent) have given their children ‘their inheritance’ early, to try to reduce the amount of inheritance tax payable on their estates. This amounts to a total of £227 billion, at an average of £32,920.10. A further 6.5 million (19 per cent) parents…
Read more
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in August grew by 10% compared with the same month last year. Credit card and personal loan new business together grew by 9% compared with August 2017, while retail store and online credit new business increased by 7%. Second…
Read more
The Labour Party has published its response to a review into problem gambling and its treatment that has been undertaken over the last year. Tom Watson MP and Jonathan Ashworth MP have spent a year consulting with gambling addiction specialists, charities, industry bodies and those suffering from gambling problems, to look at whether existing gambling regulation…
Read more
Here is an overview of The Money Charity’s latest statistics for September 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. People in the UK owed £1.5955 trillion at the end of July…
Read moreResearch from price comparison site Money Guru has revealed that more than half of consumers under 35 would prefer to talk about embarrassing health issues or the intimate details of a relationship than their financial woes. Money Guru’s data shows that 63% of consumers feel negative and disturbed emotions when thinking about their finances. However,…
Read moreEnforcement specialist JBW Group has acquired shares in Court Enforcement Services (CESL) further growing the UK operations of multi-national of JBW’s parent company Outsourcing Inc. Court Enforcement Services will continue to be managed separately to JBW and will retain its brand and management team, led by Managing Director, Daren Simcox. Simcox said “Court Enforcement Services…
Read more
Growing evidence that the UK economy may be on a downward spiral is suggested in the latest (Q2 2018) UK’s Credit Managers’ Index (CMI) which has hit a five-year low. The quarterly barometer from the Chartered Institute of Credit Management (CICM) shows an Index that has fallen by 1.0 point to 54.4. This is 5.7…
Read more
The TUC has said that UK households have been pushed £1,250 into the red since Theresa May took office according to their analysis. In every quarter since Theresa May’s arrival in Downing Street (2016 Q4 to 2018 Q1), families’ outgoings have outstripped their incomes – resulting in a total deficit of £34 billion. The TUC…
Read more