Credit, Collections & Insolvency News
The latest UK Personal Debt Index (PDI) has found that the number of young people seeking help with personal debt rose by +7.8 per cent in the first quarter of 2017. Individuals aged between 20 and 25 accounted for over one in ten of those undertaking support for their personal finances in the first three…
Read more
Cifas, has released a new report detailing the fraud trends from over 325,000 fraud cases recorded in 2016. The data, from 387 organisations, including many major UK brands, is one of the most comprehensive pictures of fraud and fraudulent attempts made in the UK. Key findings from the Cifas’ annual report Fraudscape include: Over 325,000…
Read more
Research from Equifax has revealed that 60% of consumers think that fewer than three security steps, including passwords, card readers or letters from a memorable word, are insufficient to assure their bank account is secure and not accessible by other people. The online survey, conducted by YouGov, found just over a fifth of the British…
Read more
The latest research from Plentific.com, an online home service marketplace, has found that financial help from the Bank of Mum and Dad isn’t just limited to purchasing a property; it also extends to improving the home. A fifth of homeowners (18%) say they rely on the Bank of Mum and Dad to help finance home…
Read more
Here is an overview of The Money Charity’s latest statistics for May 2017: Personal debt in the UK People in the UK owed £1.529 trillion at the end of March 2017. This is up from £1.484 trillion at the end of March 2016 – an extra £886.84 per UK adult. The average total debt per…
Read moreThe Bank of England’s latest money and credit statistics have revealed that mortgage approvals have fallen to a six month low. The statistics also show an increase in consumer debts such as credit cards and loans. The Bank of England’s figures for March 2017 show consumer credit increased by 10.2% in the year to March, to…
Read more
Just one in ten (10%) British adults say they have received useful advice about personal finance through their school or college, a new survey of over 2,000 British adults by insolvency and restructuring trade body R3 and ComRes has found. A similar proportion, 11%, say the advice they received via public education was not useful.…
Read more
There were more small claims decrees for debt against Scottish consumers in Quarter 1 (Q1) 2017 than in any other first quarter on record, according to figures released today by Registry Trust. In the first quarter of the year, 6,879 debt decrees were registered against consumers in Scotland, over a third higher than the same…
Read more
A study, by the International Longevity Centre-UK (ILC-UK), supported by the Building Societies Association (BSA) has found that borrowing into older age is likely to move from niche to mainstream within the next decade. The amount of mortgage debt held by over 65s is set to increase by more than £19 billion by 2030 (from…
Read more
Legal & General and Cebr have published a new report into the role the Bank of Mum and Dad plays in helping their children get on, or move up the property ladder. The research shows the Bank of Mum and Dad will lend over £6.5 billion in 2017, up from £5bn in 2016, providing deposits for…
Read moreFamilies in Britain who are struggling financially are increasingly becoming prime targets of financial fraud, according to new research from Experian. This group, made up of more than 4 million people in the UK, have experienced the highest growth rate in fraud between 2014 and 2016. Of all the fraudulent credit applications made using an…
Read more
New figures fromThe UK Cards Association show that total card spending in February 2017 was £57.2 billion, an increase of £300 million on January, and up from £52.2 billion in February 2016. Other findings in the report showed: The number of card purchases increased to 1.3 billion, up by 14 million during the month and…
Read more
The British Bankers Association (BBA) has released March 2017 figures for the high street banks. Eric Leenders, BBA Managing Director for Retail Banking said: “In March, annual growth in consumer borrowing from the main high street banks* slowed, perhaps mirroring the dip seen in retail sales volumes as price rises appear to have started biting…
Read more