Credit, Collections & Insolvency News
As millions of UK holidaymakers prepare to head overseas this summer, new Freedom of Information (FOI) data obtained by Compare the Market has revealed that consumers paid £508 million in out-of-bundle international roaming charges in 2025, highlighting the continued cost of using mobile phones abroad for many travellers. The figures show consumers paid £508 million…
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New polling from StepChange Debt Charity reveals that almost one in six (15%) of adults, equivalent to more than 8 million people, find keeping up with their credit card repayments a very or fairly large burden each month, highlighting the growing challenge of credit card debt across the UK. The research, conducted by YouGov on…
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The cost of a traditional funeral has risen by £90 in just three months and by £151 since the start of the year, according to new data from Pure Cremation. The research found that the average traditional funeral now costs £4,713, a rise of 1.95% between July and April 2026 and 3.3% since January. The…
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GfK’s consumer-confidence indicator rose to -17 in July, returning to levels last seen in January. All measures tracked by the survey improved, including expectations for the general economy and intentions to make major purchases. The World Cup and the Prime Minister’s promises of help with living costs appear to have improved the national mood. However,…
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Latest research by Generation Rent has found that, if the price of everyday groceries had risen at the same rate as private rents since 1988, a standard ten-item shop from a supermarket would cost more than five times what it does now. The 1965 Rent Act introduced regulated tenancies with long-term security of tenure and…
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Financial resilience among the UK workforce has deteriorated over the last 12 months, with just one in four (25%) of people being classified as financially resilient compared to almost a third (32%) in 2025, according to Hymans Robertson. Meanwhile, those classed as financially vulnerable have risen to 42% compared to 36% in 2025. The drop…
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New figures released today by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes fell by 1% in May 2026 Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer Finance & Mortgages and Inclusion the Finance & Leasing Association (FLA), said…
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National debt charity StepChange has won a top award for its work to tackle illegal lending and keep its clients safe from loan sharks. The charity, which has its headquarters in Leeds, has been awarded Partner Plus Accreditation by the Illegal Money Lending Team (IMLT), known as Stop Loan Sharks, in recognition of its ongoing…
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Latest monthly statistics from the Insolvency Service have shown that personal insolvencies increased whilst business insolvencies declined in June 2026. The data showed that in June 2026, there were 189 personal insolvencies in Northern Ireland. This was 13% higher than in June 2025. The insolvencies comprised 136 IVAs, 20 bankruptcies and 33 DROs. The business insolvencies…
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Latest monthly figures from the Insolvency Service for England & Wales for June 2026 show that there were 11,871 personal insolvencies, 5% higher than in May 2026 and 16% higher than in June 2025. The insolvencies consisted of 674 bankruptcies, 3,879 debt relief orders (DROs) and 7,318 individual voluntary arrangements (IVAs). The 7,318 IVAs registered in…
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Holiday childcare costs across Great Britain have risen by 5% in the last year, leaving working parents facing an average bill of £191 per child per week – or £1,145 for the six-week summer holiday according to Coram Family and Childcare research. The survey finds that holiday childcare continues to cost almost three times as much as after-school childcare during…
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The Government’s Financial Inclusion Strategy is a welcome first step, but it is not a complete plan to tackle financial exclusion according to a new Treasury Committee report. The strategy fails to show: Who is excluded, Where exclusion is concentrated, Which services and products are people excluded from and Why are they excluded. Without this information,…
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New research from Rathbones suggests parents and grandparents are increasingly stepping in to fund higher education costs themselves. The research found that nearly seven in ten (69%) parents expect to cover at least half of the total cost of university, with 15% expecting to pay all or almost all costs themselves, 23% expecting to cover…
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