Credit, Collections & Insolvency News
Credit Bureau, Credit Kudos has announced its has received Financial Conduct Authority (FCA) authorisation. Credit Kudos are building a new credit scoring system to tackle the problem of increasingly persistent consumer debt. Commenting on the announcement, Freddy Kelly, founder and CEO of Credit Kudos said: “Credit is a crucial instrument for so many of us,…
Read more
Research by Saga Money found that while retired people want to save to pass on an inheritance, their children would rather they spent the money on living today.. More than eight in ten children say they would rather their parents spent their money in retirement than leave them an inheritance, yet four in five parents…
Read more
Research from independent car buying site, carwow, reveals that nine in ten Millennials are renting or leasing modern day essentials such as cars, homes and mobile phones because it’s the only way to afford to them. Due to soaring living costs, a poll of 2,000 car owners by carwow shows that one in two millennials…
Read more
The Insolvency Service has released a statistical breakdown of individual insolvencies in England and Wales, by region, county, unitary authority and local authority levels. The statistics also include age and gender breakdowns of individual insolvencies at region level. The statistics cover the calendar years 2000 to 2016. Main Messages The total insolvency rate increased for…
Read more
Among growing concerns about high consumer debt levels in the UK, a new study finds that almost a third of credit card and personal loan debt – up to £35bn – is sitting with people who are deemed to have low financial maturity. Aire, which uses Artificial Intelligence (AI) technology to help lenders provide applicants…
Read more
R3 has published its latest UK personal finances statistics which indicated that two-fifths (41%) of British adults are at least fairly worried about their current level of debt, while a similar proportion (40%) say they sometimes or often struggle to make it to payday, says insolvency and restructuring trade body R3. The figures, from the…
Read more
Mounting debt is causing six in ten (59%) ‘Middle Britain’ families to fall short of the recommended level of savings to be financially resilient – leaving them at risk of being hit hard if they were to lose their income, according to new research by leading insurer, LV=. In the final instalment of its ‘Income…
Read more
The Financial Conduct Authority (FCA) has today published an Occasional Paper outlining the findings from a project that explored how the ageing population would impact the Financial Services industry. The FCA launched the Ageing Population Project in February 2016 to explore how older people use financial services and products. The paper reviews the public policy…
Read more
The average share of income that Britain’s families spend on housing has trebled over the last 50 years, with young people having to make do with longer commutes and smaller, insecure rented accommodation, according to a new report published by the Resolution Foundation. The “Home Affront ‘ report by the Resolution Foundation shows that each generation…
Read moreRising debt levels and the continued struggle to meet essential household bills are among the key findings from the latest statistical research released today by StepChange Debt Charity. The Statistics Mid-Year Book which examines the latest trends from the charity’s client data, highlights how increasing numbers of the under-40s, lone parents and people in rented…
Read moreThe Consumer Council for Water (CCWater) says Southern Water has a lot more work to do to curb the number of complaints it receives from customers, despite taking an important step in the right direction. Annual figures published by the water watchdog today show Southern Water has responded positively to CCWater’s pressure to improve its…
Read more
Here is an overview of The Money Charity’s latest statistics for September 2017: Personal debt in the UK People in the UK owed £1.548 trillion at the end of July 2017. This is up from £1.489 trillion at the end of July 2016 – an extra £1033.06 per UK adult. Per adult in the UK…
Read moreEquiniti has announced the launch of Equiniti Credit Services. Richard Carter is to lead the new business – supplying digitally enabled loan and mortgage solutions – which combines Equiniti Pancredit, Equiniti Gateway and the newly-acquired Nostrum Group. Equiniti Credit Services builds innovative solutions that are transforming the credit industry, offering a complete outsourced credit management…
Read more