Credit, Collections & Insolvency News
Credit Connect has announced the shortlist of companies and partnerships for this year’s first-ever annual Credit & Collections Industry Awards. The shortlist for the inaugural awards consists of 64 entrants with over 50 companies in the running to win the first-ever awards. Credit Connect’s panel of judges has now compiled the shortlist for the fourteen…
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Half (49%) of people over 50 say they want to be able to leave their loved ones some inheritance when they’re gone and are prepared to sacrifice their own financial stability to do so. according to data from SunLife. The research over found that 6.9 million (51%) women and 5.8 million (47%) of men want…
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New analysis from the Joseph Rowntree Foundation (JRF) has found that millions of people are already in poverty, and millions more are ‘teetering on the edge.’ The research found that 3.2 million people in the UK are only £40 a week from poverty, equivalent to the entire population of Wales. This includes 700,000 children, 1.5…
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57% of couples say they manage short-term money matters together and 58% say they manage the long-term together too according to research by by Opinium for Hargreaves Lansdown. The research also. found that 29% of people in a couple say they plan long-term money matters on their own, with no input at all from anyone…
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The Institute for Fiscal Studies (IFS) has revealed that the average Briton would be almost £5,000 richer if living standards had grown at the rate recorded in the years prior to the Conservatives coming to power in 2010. The IFS report says that weak income growth, widespread for richer and poorer people, older and younger…
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A sharp rise in debt repayments was recorded in April as cost-of-living pressures continue to bite according to research by Nationwide. The data showed that customers repaid unsecured debts of £735 million in April – a 25 per cent year-on-year rise, while the number of transactions to debt repayment increased by 14 per cent. Many…
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Personal finance skills rank above maths, digital skills and cooking as parents prioritise money knowledge for children at school, new research from Nationwide highlights. Almost nine in ten (89%) parents of 8-13-year-olds say that more personal finance education would help their children better understand the value of money. More parents said personal finance was more…
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A new report published today by Royal London, shows significant increases across housing, energy and food bills, and childcare, since February 2023 meaning the average family with young children have seen their expenses rise by over £1,000 a month, leaving almost a fifth (18%) of parents with no money for unexpected bills or emergencies. The…
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Here is an overview of The Money Charity’s latest statistics for May 2024 Personal debt in the UK People in the UK owed £1,843.9 billion at the end of March 2024. The average total debt per household, including mortgages, was £64,296 and per adult was £34,372, around 97.4% of average earnings. Net mortgage lending increased by…
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New research by KPMG and charity National Numeracy, has found that one in five adults feel that their fear of numbers is hindering their financial progress, with one in five (19%) stating that the cost of living crisis has highlighted their weakness. The study of 3,000 people revealed that 20 per cent of the UK…
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New research by Hodge has found that more people are borrowing into their retirement to help out with debt consolidation and meet day to day living costs. The research found that over two thirds of brokers say lending up to and into retirement in the UK is changing, with greater numbers borrowing into their retirement…
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Latest ONS figures out have revealed that average UK private rents increased by 8.9% in the 12 months to April 2024. StepChange Debt Charity says this will create more worry among private renters as the Renters (Reform) Bill, currently making its way through the House of Lords, does not address rising affordability concerns. The ONS…
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The Education Select Committee is set to propose that financial education should be introduced in primary schools as part of PHSE classes. Research by Hargreaves Lansdown carried out last year found that three quarters of 18-year-olds don’t understand the rules around borrowing or what a share is whilst two in three 18-year-olds don’t understand inflation,…
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