Credit, Collections & Insolvency News
One-in-five people (22 percent) say they have previously borrowed money from friends and family to help pay for Christmas even though the majority are embarrassed about asking, a new survey reveals. The research, commissioned by Curve, examines how people in the UK plan to finance their spending this holiday season. The results expect the average…
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The value of residential mortgages written off by banks and building societies has increased by 58% in the last year, jumping from £77 million to £122 million in the year to 30 June 2018 according to new analysis by Moore Stephens. Moore Stephens says the increase could be an early sign of distress in the…
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Young people whose parents have property wealth are now almost three times as likely to be homeowners by the age of 30, compared to those whose parents have no property wealth, according to Resolution Foundation research. With the ‘Bank of Mum and Dad’ now considered to be a key lender for first-time buyers, House of the…
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The Joseph Rowntree Foundation JRF) has released a new report which highlights than Britain are going into Brexit with half a million more children trapped in poverty, this following a relentless rise in the number of working families struggling to make ends meet over the last five years. It means in a typical classroom of 30 children, nine are now living in…
Read moreThe LV= Income Roulette Report reveals that more than a quarter (28%) of people expecting to retire within the next five years don’t know how much they have in their pension pot. In addition to money worries, some did not feel emotionally ready for retirement with one in six (16%) admitting they were worried they…
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According to new research, one in ten consumers will put the whole cost of Christmas on their credit card. The research by GoCompare Money, has found that the average British household expects to spend £719 on Christmas festivities this year. Collectively, the Nation will splash out £19.5 billion on gifts, food and drink, parties and Christmas…
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VoucherCodes.co.uk, has discovered almost half of students (47%) have less than 10% of their loan remaining following Christmas celebrations with family and friends, causing over a third (36%) to confess they need to borrow money from their parents until they receive their next student loan. With the average student expecting to spend over £140 so…
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The Competition and Markets Authority (CMA) has published its concern that Experian’s takeover of start-up rival ClearScore could stifle product development and impact customers. The CMA’s Phase 2 investigation has provisionally found that Experian’s takeover of ClearScore is likely to result in less intense competition, potentially harming the continued development of digital products which help…
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European credit management firm Intrum, has published a new European Consumer Payment report based on a survey with responses from 24 398. European consumers. Intrum, who are in contact with 250 000 indebted consumers around Europe every day, sees a widening gap in the wake of a rising economy. While more and more people are able…
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A nationwide survey has discovered, every year more than half of us (57 percent) are given presents we will never even remove from the packaging. In fact, according to the report, from underwear to smellies and novelty gifts, each of us will receive three unwanted gifts worth £26 every year, totalling a £1.4 billion UK…
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UK Finance has released its latest household finance update for October 2018 which has revealed that £11.3 billion of credit card spending in October was 12.1 percent higher than last October. Over the past twelve months, the outstanding level of credit card borrowing grew by 5.7 percent. Whilst personal borrowing through loans and overdrafts grew by…
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Three-quarters of consumers are worried about their current financial situation, a study has found. Researchers found a large percentage of the nation fear they don’t have enough money to see them through a sudden crisis such as a large, unexpected bill. Others are concerned they would face almost immediate ruin if they were to lose…
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Mid-size and Northern companies have the highest insolvency risk according to analysis from new statistics published by the Government. R3 has reviewed the number of England & Wales corporate insolvencies in 2017, broken down by company age, size and location. The research has found that: Enterprises aged 4-9 years old, or with turnover of £0.5-1m,…
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