Inflation hits 30-year high

Official figures show that inflation jumped to 5.4% in December, with this the highest rate since the 7.1% recorded in March 1992. The consumer price index (CPI) measure of inflation was up from 5.1% in November, with soaring food costs and energy price increases helping drive the rate up. The Office for National Statistics (ONS)…

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One in three consumers struggling to keep up with bills

The number of people finding it hard to keep up with bills and credit commitments has doubled since the start of the pandemic according to new research from StepChange Debt Charity. The charity has found the proportion of people struggling is now nearly one in three (30%) UK consumers – 15 million people – compared…

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CCJs against consumers rise by a third

The number of County Court Judgments (CCJs) issued against consumers in England and Wales in 2021 rose by more than one third compared to 2020, according to latest figures released by the Registry Trust. The number of consumer judgments registered in 2021 was 848,124, up by 36 percent from 625,901 in 2020. The Registry Trust…

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Scottish decrees against consumers rise by 9%

The number of decrees and total amount of debt registered against Scottish consumers in 2021 rose compared to 2020, according to figures released by the Registry Trust. The number increased from 13,308 in 2020 to 14,444 in 2021, a rise of nine percent. The total value rose even more, by 19 percent, from £37 million…

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Personal Insolvencies fall by 10.1%

Latest figures from the Insolvency Service have indicated that personal insolvencies in England & Wales fell by 10.1% to 8,434 in December 2021 compared to 9,385 in November 2021, and were 12.4% lower than December 2020’s figure of 9,625. There were, on average, 6,648 IVAs registered per month in the three-month period ending December 2021,…

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Rents increased again amid tight supply of properties

19th January 2022 Consumer Collections | #rents

Average UK rents increased for the fifth consecutive quarter during Q4 2021 as pressure on the supply of rental properties during the pandemic continues, according to analysis by The Deposit Protection Service (The DPS) The research found that average rents reached £834 during the final three months of 2021, an increase of £16 (1.96%) on…

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Council-backed energy retailer ceases to trade

19th January 2022 Company News | #energy insolvencies

Together Energy has become the first supplier of 2022 to cease trading following weeks of speculation about the company’s future. The energy company, which was founded in 2016, included subsidiary and former council-owned supplier Bristol Energy. It served 176,000 domestic customers and one non-domestic customer Under Ofgem’s safety net, customers’ energy supply will continue and…

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Arum has been appointed on to CCS’s Debt Resolution Services framework

19th January 2022 Company News |

Arum has been named as a supplier on Crown Commercial Service’s (CCS) Debt Resolution Services (DRS) framework to provide to provide Fraud, Error and Debt (FED) Advisory services to Central Government and the wider public sector. CCS supports the public sector to achieve maximum commercial value when procuring common goods and services. In 2020/21, CCS…

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Poorest households may have to spend half of their income on energy bills

18th January 2022 Arrears and Recoveries | #energy debt

Single adults on low incomes could spend more than half their income on bills if the energy price cap rises in April, according to a report by the Joseph Rowntree Foundation (JRF). The analysis found that households on low incomes will be spending on average 18% of their income after housing costs on energy bills…

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Marston acquires Vortex IoT

18th January 2022 Company News | #company acquisition

Marston Holdings has announced its acquisition of Vortex IoT, a supplier of environmental sensors, networks and data solutions that support improved air quality and decarbonisation initiatives. Marston supports government, utilities and private sector clients through the delivery of market leading integrated technology-enabled solutions from design through to implementation, management and recovery. Marston’s clients include local…

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Rise in CCJs prompts call to protect financially vulnerable households

The number of County Court Judgments (CCJs) issued against consumers in England and Wales in 2021 rose by more than one third compared to 2020, according to figures released by Registry Trust. CCJs are issued to consumers in England & Wales who have not repaid a monetary debt and the creditor has taken court action.…

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Families suffering from ‘fuel stress’ set to treble overnight

17th January 2022 Arrears and Recoveries | #energy debt

The number of households suffering from ‘fuel stress’ spending at least 10 per cent of their family budgets on energy bills is set to treble overnight to 6.3 million households when the new energy price cap comes into effect on 1st April according to new research by the Resolution Foundation. The research shows that the…

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Second charge mortgages grew by 36% in November

New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 36% in November 2021. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…

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