Credit, collections & insolvency news
Latest mortgage lending data from the Bank of England and FCA shows that the value of outstanding mortgage balances with arrears is 18% higher than a year earlier and has risen to £21.9 billion, albeit this has declined by 0.4% compared to the previous quarter. New mortgage arrears cases (as a proportion of total outstanding balances…
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New forecasts from Cornwall Insight have seen price cap predictions rise to £1,762 a year for a typical dual fuel consumer. This would represent a 1% increase from January’s price cap of £1,738 announced in November. Cornwall Insight says that the increase in the cap forecast largely reflects the movement in the wholesale market, where…
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The Ministry of Justice has announced its response to a Government consultation on the proposal to allow for the names of claimants of money judgments, in the County Court and High Court, to be published on the Register of Judgments, Orders and Fines in England and Wales. Currently, only the name of the defendant is…
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Debt collection and purchase industry body, CSA Credit Services Association (CSA), has announced that is hasappointed Harvey Watson as Learning and Development Director. Watson is a previous CSA tutor specialising in risk & compliance apprenticeships in both the public and private sector, Harvey also spent thirty-one, high performing years, in Senior Management and Leadership with…
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A new survey by credit management company, Lowell has found that almost three-quarters (74%) of households rely on credit products like Buy-Now-Pay-Later schemes and credit cards to manage Christmas expenses, with repayments stretching into mid-April. The average family is set to allocate over half (53.6%) of their monthly salary—approximately £1,546 based on the national average…
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Credit Connect has published its annual Credit & Collections Technology Awards review. The awards review highlights the unique transparency of the Credit & Collections Technology Awards with graphics on the winning companies accompanied by judges comments. The award’s rigorous and transparent process enables each company that enters the awards an opportunity to receive a bespoke…
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New research from Go.Compare Energy has revealed that 14% of consumers won’t be putting up any Christmas lights this year, so they can save on energy costs. The survey, which asked over 2000 people about their plans for Christmas decorations this year, also found that a further 28% of billpayers will be putting up fewer…
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A third (34%) of single parents have missed paying a household bill to cover the cost of Christmas according to research debt counselling service Money Wellness, More than 50% of single parents with three or more children said being alone made it harder for them to afford the festive period. One in ten said they…
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A poll by Skipton Building Society has found that 85 per cent worry they will give their children bad financial advice. The data also found that many aren’t confident to give advice when it comes to investing (29 per cent) budgeting (25 per cent) and credit scores (23 per cent). While 21 per cent have…
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Energy regulator Ofgem is been urged to do more by Citizens Advice to protect consumers as soaring energy costs drive billing issues. Citizens Advice helped over 52,000 people with energy bill problems between January and October this year – equivalent to one person every two minutes. This is an 83% increase compared with the same…
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Children’s charity and voluntary adoption agency, Adoption Matters has rolled out IE Hub’s free budgeting tool across its service to assess the finances of prospective adopters. Following a successful pilot, the charity, which supports those looking to adopt in the north of England, Staffordshire, Shropshire and parts of north Wales, will now signpost prospective adopters…
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Here is an overview of The Money Charity’s latest statistics for November 2024 Personal debt in the UK People in the UK owed £1,868.1 billion at the end of September 2024. The average total debt per household, including mortgages, was £65,777 and per adult was £34,594, around 95.3% of average earnings. Net mortgage lending increased by…
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Recent research by Aqua revealed that nearly one-third of consumers (30%) say that financial mistakes have caused increased stress and that 41% of consumers feel negatively about their financial situation. With a challenging financial backdrop in the UK, it’s more important than ever to ensure that people receive financial information from trusted sources. The data…
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