Credit, Collections & Insolvency News
Britsh consumers are more confident in their own finances than the country’s according to Lloyds Bank latest spending power report has shown. The survey found that almost half (46%) of people lack confidence in the UK’s current employment situation, yet 81% are comfortable with their own job security. Likewise, 54% report a gloomy outlook on inflation…
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People in the poorest third of households have accounted for over half of the increase in employment since the start of the financial crisis, according to new analysis published by the Resolution Foundation. The analysis, which looks at how close Britain is to full employment, shows that of the 2.1 million increase in employment between…
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Personal insolvencies are on track to hit 105,000 per annum by 2022, breaking highs last seen six years ago, according to the latest econometric forecast from Arrow Global’s ‘Debt Britain 2018’ research. Analysis shows that personal insolvencies have been on the increase since 2015 and rising interest rates on the back of the Bank of…
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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…
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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…
Read moreA 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…
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The Office for National Statistics (ONS) has released its latest Quarterly Gross Domestic Product (GDP) figures with first estimates suggesting that the economy grew by 0.4% quarter on quarter in April to June (equivalent to a 1.3% year-on-year increase). Commenting on the results Markus Kuger, Senior Economist at Dun & Bradstreet said “Today’s data release is…
Read moreLatest 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…
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A new study from LV has revealed that people in their early thirties are putting off life milestones such as having children or buying a home, due to being one of the least financially resilient groups in the UK. A quarter (24%) of the 30-35-year-olds in the study, of which there are 4.7 million in the…
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The Bank of England (BoE) Monetary Policy Committee (MPC) has today voted to increase interest rates to 0.75 percent, its highest level since 2009. Commenting on today’s decision by the Bank of England’s Monetary Policy Committee to raise interest rates by a quarter of a percentage point, StepChange Debt Charity urges policymakers to keep a…
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A new report from the Office of National Statistics (ONS) has shown that, on average, each UK household last year spent or invested £900 more than they received in income. The Office for National Statistics said the shortfall amounted to nearly £25 billion and the overspend was mostly paid for with borrowed money, though households…
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The Treasury Committee has published a new report on household finances. In response to the report, MPs have called for greater support to help UK households that struggle financially, to help them deal with debt and encourage saving. The report highlighted that many households are over-indebted and lack a ‘rainy day’ savings buffer and that…
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Here is an overview of The Money Charity’s latest statistics for July 2018: Personal debt in the UK People in the UK owed £1.5877 trillion at the end of May 2018. This is up from £1.54 trillion at the end of May 2017– an extra £920.71 per UK adult. Per adult in the UK that’s an average debt of £30,670 in…
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