Credit, Collections & Insolvency News
Cifas has released new figures showing that identity fraud has hit the highest levels ever recorded. A record 172,919 identity frauds were recorded in 2016 more than in any other previous year. Identity fraud now represents over half of all fraud recorded by the UK’s not-for-profit fraud data sharing organisation (53.3% of all frauds recorded…
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Here is an overview of The Money Charity’s latest statistics for March 2017: Personal debt in the UK The average total debt per household – including mortgages – was £56,310 in January. The revised figure for December was £56,148. Based on January 2017 trends, the UK’s total interest repayments on personal debt over a 12…
Read moreNew figures released today by the Finance & Leasing Association (FLA) show growth of 10% in consumer finance new business in January, compared with the same month in 2016. Credit card and personal loan new business together grew by 11% compared with January 2016, while retail store and online credit new business increased by 1%.…
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The Office for National Statistics (ONS) has published its latest Wealth and Assets Survey. Early indicator estimates from the survey: attitudes towards saving for retirement, credit commitments and debt burden show that nearly half (46%) of GB adults thought buying property would be the best way of making money for their retirement in 2014/16, up from 43%…
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Private tenants are struggling to get a foot on the housing ladder because of the costs that come with renting according to the Citizens Advice Service. A new report from the charity finds that just under three quarters (74%) of private tenants say the combined costs of rent, agency fees and moving make buying a…
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The government has published a report on Household debt. The report includes the latest statistics and forecasts for household debt in the UK and international comparisons. There is also a guide explaining how to understand and interpret household debt statistics and a summary of research looking at its effects on the economy. In the report…
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Consumers spent £647 billion using payment cards in 2016, new figures fromThe UK Cards Association show. There were 14.8 billion card transactions in 2016, equivalent to 40.5 million transactions a day or 469 a second, data from The UK Cards Association shows. Three-quarters of retail spending (76.4 per cent) was on payment cards. Retail spending on…
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As the Bank of England’s latest money and credit statistics show an increase in consumer borrowing, Citizens Advice says right now more people are seeking help for debt problems from essential household bills. The Bank of England’s figures for January 2017 show consumer credit grew by 10.3% in the year to January to £194 billion.…
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British adults say that their personal or household finances are the most likely factor, from a list of common causes of stress and anxiety, to have a negative impact on their mental health, according to a new survey of over 2,000 people by insolvency and restructuring trade body R3 and ComRes. A quarter (24%) of British…
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More than half a million (590,000) Brits holding at least one kind of interest-bearing debt are paying more than they need to by not moving to a better deal, according to new research by TSB. Almost 5 million British adults owe between £7,500 and £25,000, and TSB calculates that more than half a million of these…
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Provenir has announced a partnership with Bisnode. The collaboration paves the way for innovative, real-time risk decisioning services for European businesses. In search of growth and cost efficiency, companies in Europe seek solutions to optimise their credit risk processes. Agile solutions that can respond quickly to rapid and on-going business and regulatory changes are vital. Bisnode…
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The latest complaint figures released by the Financial Ombudsman Service (FOS) shows that Payday loans complaints have risen by 22%. Complaints to the financial ombudsman about payday loans have risen to almost 200 a week. During the second half of 2016 the Financial Ombudsman Service received 5,095 new payday lending complaints, up 22% on the first six…
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The Financial Conduct Authority (FCA) have today published it’s latest data bulletin for The Consumer Contact Centre. The bulletin includes the latest trends in the retirement income market. The Consumer Contact Centre is the main point of contact for consumers of financial services firms who want to interact with the FCA; it handles more than…
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