Credit, Collections & Insolvency News
Research conducted by Updraft has revealed that Brits are expected to accumulate an average of £1,641 in credit card debt over the summer months, with many falling into the trap of overspending, missing grace periods and accruing interest. In fact, for some, summer 2025 spending may not even be paid off yet. Updraft surveyed 2,002…
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Research from St James’s Place has shown that average household wealth has fallen 17.5% over the last year, dropping from £126,482 to £104,329. More than a third of people said their financial position has worsened over the last twelve months, while one in five households now say they are struggling financially. The data finds that…
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Households reduced spending in April, marking the first annual decline in card spending since late 2024. Barclays reported a 0.1% fall overall, with travel spending dropping 5.7% as consumers became increasingly cautious. Fuel spending rose sharply due to higher oil prices and concerns linked to Middle East tensions. The data showed that consumer card spending…
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New research by MoneySuperMarket shows that raising a child in the UK costs anywhere between £143,412 and £500,982, depending on the childcare and schooling choices families make. By combining the latest Office for National Statistics (ONS) data with a new survey of UK parents, MoneySuperMarket’s analysis shows how underestimated the financial commitment of parenthood really is. Even when families can opt out of pre-school nursery…
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More than half (58%) of adults who are single or live alone say they could not cope with an unexpected bill of £850 according to new research by Aviva According to the research, people who live alone spend on average a little over £630 a month on essential costs, such as food/ groceries, transport, council…
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The British Retail Consortium (BRC) is calling on the government to act on soaring domestic policy costs, as new polling shows four in five people (80%) fear the Middle East conflict will push up food prices. Retailers are already absorbing significant additional costs from the conflict. Rising gas and electricity prices are pushing up production,…
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A survey of 2,000 UK consumers found a clear generational divide in financial literacy, with 18-24-year-olds consistently less confident and less informed than older age groups on how credit works according to research by Creditspring. Just 45% of young adults said they understand what ‘APR’ means, compared with 67% of over-55s. Fewer than half (46%)…
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New research from debt management firm Lowell has revealed that on average, it takes families until mid-April (3.8 months) to clear their festive debt. The survey found that 74% of UK families relied on credit cards and Buy-Now-Pay-Later schemes to help cover the cost of Christmas. While some families have the luxury of being able…
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Consumer confidence has fallen to its lowest level since October 2023, according to the GfK consumer confidence index, which dropped four points to minus 25. This decline marks the third consecutive month of falling confidence and the largest drop since April 2025. The deepening concern was driven by perceptions of the UK economy, with a…
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While the use of AI in payments management continues to grow, the UK is proving slower to adopt AI solutions than its European peers, with skills gaps and regulatory uncertainty slowing progress according to new research by Intrum. Intrum’s European Payment Report, based on a survey of over 8,000 businesses in 20 markets, is produced…
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Consumer confidence declined by three percentage points during the first quarter of 2026 to reach its lowest level since Q3 2023, according to the latest Deloitte Consumer Tracker. The fall in confidence, based on responses from 3,200 UK consumers aged 18+, was also the biggest quarterly drop since Q1 2022. Overall confidence was also down…
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British households reduced non-essential spending last month due to rising fuel prices and uncertainty from the Iran war. According to Barclays’ consumer spending report, fuel spending rose 1.6% year-on-year, pushing essential spending up by 0.5%. However, non-essential spending growth slowed to 1.1%, with travel spending down 3.3% due to flight disruptions. Consumer card spending increased…
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Two thirds (64%) of couples claim higher living costs is making money a bigger issue in their relationship according to new research from Hymans Robertson Personal Wealth. Despite this, less than half (46%) say they know how much their partner earns and only 14% of couples say they regularly discuss their finances together, suggesting many…
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