Credit, Collections & Insolvency News
Here is an overview of The Money Charity’s latest statistics for September 2018: Personal debt in the UK People in the UK owed £1.592 trillion at the end of June 2018. This is up from £1.545 trillion at the end of June 2017– an extra £900.74 per UK adult. People in the UK owed £1.5955 trillion at the end of July…
Read moreResearch from price comparison site Money Guru has revealed that more than half of consumers under 35 would prefer to talk about embarrassing health issues or the intimate details of a relationship than their financial woes. Money Guru’s data shows that 63% of consumers feel negative and disturbed emotions when thinking about their finances. However,…
Read moreThe winners of the second annual 2018 Credit & Collections Technology Awards have been revealed. There were sixteen winners from the eighteen Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation. The awards ceremony was held at Credit Services Association’s (CSA) annual Gala dinner at the…
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The winners of the second annual Credit & Collections Technology Awards were announced last night at the Credit Services Associations’s annual Gala dinner at the Crown Plaza in Stratford-upon-Avon. Eighteen winners from the Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation were revealed. Stay tuned…
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The UK’s younger generations have increased the amount of debt they owe over the last five years according to analysis within Arrow Global’s consumer research report(Table 1). Significant numbers of millennials also don’t know how much interest they are paying (Table 3), according to the 2018 Debt Britain research from Arrow Global. The findings reveal…
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New research by price comparison website MoneySuperMarket has revealed that although over a third of consumers (39 per cent) use contactless technology to make payments, the vast majority are concerned about introducing alternative payment methods, such as fingerprint or facial recognition, into their day-to-day spending. Despite advances in technology in the banking sector and the…
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One-in-five (22%) consumers in Scotland has had an outstanding credit card balance for at least six months, according to a survey by R3 in Scotland, the insolvency trade body. The research, part of a long-running survey of Britain’s personal finances by R3 and ComRes, also found that, of the 35% of Scottish adults are concerned…
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Almost 10% (9.08%) of UK consumers have been in debt during their life due to the price of household bills, research conducted by Vanquis Bank has revealed. The survey of 1,311 UK consumers, conducted on 3rd August 2018, analysed the factors behind debt, taking into account household bills, rent, overspending, unemployment, medical costs and high…
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Rent recognition platform CreditLadder and financial network Bud have launched a new partnership designed to help customers become more creditworthy and get on the property ladder. Bud offers a connected network that helps banks to collaborate with fintechs on creating new experiences for their customers. It’s a service that Bud has developed and piloted with HSBC/First…
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Credit risk analytics specialist, Jaywing has announced a partnership with Hitachi Capital Consumer Finance. The Hitachi Consumer Finance division has appointed Jaywing to explore the potential to significantly improve its existing application credit scores using Jaywing’s AI modelling technology, Archetype. Hitachi Capital Consumer Finance wanted to understand the uplifts that may be possible through using…
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People are increasingly struggling with ‘smaller but trickier’ debts on everyday household bills, according to new figures from National Debtline, run by the Money Advice Trust. The charity expects the number of calls to National Debtline to hit 189,000 by the end of the year – the highest level in five years – with webchat…
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Britsh consumers are more confident in their own finances than the country’s according to Lloyds Bank latest spending power report has shown. The survey found that almost half (46%) of people lack confidence in the UK’s current employment situation, yet 81% are comfortable with their own job security. Likewise, 54% report a gloomy outlook on inflation…
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More than a third of UK young people think they will still be in debt by the time they’re 40, as they report worsening debt levels, finds Young Women’s Trust. The charity, which helps young women on low or no pay, surveyed more than 4,000 young people with Populus Data Solutions to find that one…
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