Credit, Collections & Insolvency News
The Office for National Statistics has today published its latest UK consumer price inflation figures showing the Consumer Prices Index was at 2.7% in February 2018, down from 3% in January 2018, its lowest level since July 2017. Commenting on the figures Joanna Elson OBE, chief executive of the Money Advice Trust, said “This slight drop in…
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Online research from Equifax, shows that using a debit or credit card with a pin number is still the preferred method of payment for 42% of people in the UK. Contactless methods followed at 34%, with the vast majority of these respondents (31%) preferring a contactless card to using their phone or wearable technology (3%).…
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Research by GoCompare finds that 80% of UK consumers now receive at least one financial service and utility bill or statement electronically 4 out of 5 (80%) UK consumers now receive at least one paperless bill or statement for a financial product or utility, new research from GoCompare has found. However, the result for many…
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Here is an overview of The Money Charity’s latest statistics for March 2018: Personal debt in the UK People in the UK owed £1.576 trillion at the end of January 2018. This is up from £1.52 trillion at the end of January 2017– an extra £1,077.51 per UK adult. Per adult in the UK that’s an average debt…
Read moreExperian, the global information services company, has announced that it has agreed to acquire ClearScore. ClearScore is UK consumer organisation that matches individuals to personal financial products, offering free credit reports, scores and personal financial education, both online and through mobile devices. Brian Cassin, Chief Executive Officer of Experian said: “In acquiring ClearScore, we will take…
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Debt charity, StepChange has published new insight on its clients, revealing that debt problems appear to be particularly acute for certain groups, such as tenants and single-parent families. The charity’s Statistics Yearbook reports that 619,946 new clients contacted the charity for debt advice last year – 3.5% more than in 2016, and 22% more than…
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The latest mortgage lending statistics have been published by the Bank of England. The statistics show that new residential mortgage lending activity decreased in Q4 2017 from the previous quarter. In total, £69.1 billion of new residential loans were advanced to individuals during the quarter. This was a 2.5% decrease compared to the previous quarter,…
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The total value of small claims judgments in Northern Ireland soared last year to the highest levels since 2012, according to figures released today by Registry Trust. There were 8,742 small claims judgments in 2017, 19 percent more than the previous year. The average small claims judgment increased 18 percent to £2,248; combined these increases…
Read moreThe Money Advice Trust and Money Advice Service have today published research into the experiences of people in debt who negotiate with their creditors. The research, carried out by the University of Bristol’s Personal Finance Research Centre, provides insight into the factors affecting successful self-negotiation. It also looks at the roles played by the advice…
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UK consumers are being put at risk of fraud because banks are “seriously lagging behind international competitors” when it comes to security according to new research by GBG. The research also finds that UK financial services organisations are failing to invest and not keeping up with digital investment seen in other sectors. While other countries…
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There were more County Court Judgments (CCJs) against consumers in England and Wales during 2017 than any other year since current records began in 2005, according to figures released today by Registry Trust. In 2017, 1,138,058 judgments were registered against consumers in England and Wales. Rising almost a quarter on 2016, the total number of…
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Young people across the UK are slashing spending to make ends meet at the start of the year, according to the latest Lloyds Banking Spending Power Report. In the monthly Ipsos MORI survey of over 2,000 bank account holders in the UK, 60% of all consumers say they have changed their eating and going out…
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Fraud prevention service, Cifas, has released new figures showing stark increases in the number young people acting as ‘money mules’ and those falling victim to identity fraud. The data has been released to coincide with the launch of new anti-fraud lessons plans, developed by Cifas, in association with the PSHE Association, the national body for…
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