Credit, Collections & Insolvency News
A scheme aimed at tackling financial and social exclusion amongst private renters has been launched. CreditLadder in association with Experian’s Rental Exchange programme , seeks to boost a tenant’s credit rating by recording their rent payments on their credit file. This means millions of tenants throughout the UK are now able to build their credit score,…
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Here is an overview of The Money Charity’s latest statistics for January 2017: Personal debt in the UK People in the UK owed £1.512 trillion at the end of November 2016. This is up from £1.460 trillion at the end of November 2015 – an extra £1017.04 per UK adult. Based on November 2016 trends,…
Read moreThe Money Charity has released it’s latest monthly statistics with it’s research revealing that each Briton is spending, on average, £1001 a year on debt interest repayments, 3.79% of average earnings. That is more than £50 billion at an annual rate – the lowest figure seen since 2003. Debt might have grown to a record 12…
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Creditfix, has revealed the top 20 postcodes with the highest percentage of people living in debt and currently undertaking an IVA/PTD. Individuals living in Motherwell, Kilmarnock and Glasgow top the list, closely followed by South East London and Plymouth.According to new nationwide data from Creditfix, the top 20 postcode areas across England, Scotland, Wales and…
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The Bank of England has released it’s latest Credit Conditions results. This quarterly survey of bank and building society lenders is an input to this work. Lenders are asked about the past three months and the coming three months. The survey covers secured and unsecured lending to households; and lending to non-financial corporations, small businesses, and…
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New figures released today by the Finance & Leasing Association (FLA) show growth of 9% in consumer finance new business in November, compared with the same month in 2015. Credit card and personal loan new business together grew by 10% compared with November 2015, while retail store and online credit new business increased by 3%…
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New research from SunLife has found that people living alone are hit the hardest, both financially and emotionally. SunLife’s Cash Happy report (studied the day to day finances of 3,000 UK households, mapping income – and how it is used – against happiness) has found that while there is a strong link between happiness* and…
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Callcredit Information Group today announces it has extended its partnership contract to provide credit risk, affordability and fraud prevention solutions to specialist lender Cashfloat. As part of the extended partnership Cashfloat will be trialling a number of additional fraud solutions focused on digital channels such as email, phone and device identification. Callcredit has worked with Cashfloat,…
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For the majority of consumers in the UK, bills aren’t getting any clearer or easier to understand, which is confusing customers and wasting an important customer touch point, according to new research from Echo Managed Services. This is despite up to a third of people stating that clarity is the number one billing improvement businesses need…
Read moreThe government’s plans for a fresh round of welfare cuts, dubbed ‘Bedroom Tax 2’, threatens to undermine housebuilding projects, increase homelessness, and weaken public sector finances across Scotland, it has been claimed. According to The Herald, payments to help tenants meet their social housing costs will be capped by the UK government for the first time with…
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Household bills rose by almost £200 in 2016 according to new findings from comparethemarket.com. An analysis of costs across energy, motor and home insurance found that, after a £180 drop in 2015, bills rose by 9.7% in the past year from £2,032 in 2015 to £2,223 in 2016. Key finings in the report included: The…
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Ofgem has confirms it has asked energy providers to return £670million of customer money owed since 2014. In 2014, Ofgem challenged large suppliers to do more to return money to former customers who had credit on their account after their account was closed, typically after switching supplier. The regulator says that today, most customers are…
Read moreLiving beyond means, relationship breakdowns, and reduced levels of income were the leading causes of bankruptcy in 2015, according to new government statistics. R3 says the statistics also reveal significant differences between the reasons why men and women enter bankruptcy. One-third (34%) of men’s bankruptcies in 2015 were caused by the bankrupt’s own company running…
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