Credit, Collections & Insolvency News
Households experiencing financial difficulties are struggling to build the financial resilience needed to cope with unexpected costs, leaving many vulnerable to being unable to pay for expenses such as car repairs, broken appliances and emergency dental treatment. This is a key finding from research by StepChange Debt Charity supported by PRA Group. Among the 1,600…
Read more
The average disposable household income across the UK rose by 3.5% to £39,200 in 2025, according to the Office for National Statistics (ONS). The data showed that the median household disposable income for the poorest fifth of the population increased by 5.6% to £18,300, bringing it back in-line with FYE 2020 pre-coronavirus (COVID-19) pandemic levels.…
Read more
Intrum’s annual European Consumer Payment Report has shown that consumers can meet their immediate needs, but their reliance on borrowing has increased dramatically, suggesting that pressure is growing beneath the surface. The data showed that late payment levels have remained static; 72% of consumers have borrowed money or used credit to pay bills in the past…
Read more
New polling from Independent Age has shown that 55% of adults under the age of 65 are not confident they will have enough money to live comfortably in retirement. The charity, which today launches a new strategy and visual identity, says these findings should raise the alarm about the threat of poverty in later life…
Read more
Energy UK has again warned the Government of the growing economic cost of failing to tackle high energy bills, with predictions pointing to the biggest rise in four years come January, while customers are in an even more challenging financial position. This week saw the current price cap, which runs until the end of December,…
Read more
Ahead of household energy bills rising by 4% from 1st October, Cornwall Insight have released new forecasts which suggest a bigger increase is on the way in the new year. The price cap is expected to rise by 16% compared to October, reaching £1,999 a year for a typical dual-fuel household¹ in January 2027, an…
Read more
Consumer credit borrowing grew to £2.5 billion in August, up from £2.1 billion in July and above the previous 6-month average of £1.9 billion. Within this, credit card borrowing was £1.2 billion in August (up from £0.9 billion in July) and borrowing through other forms of consumer credit (such as car dealership finance and personal…
Read more
Diesel prices have reached a record 199.18p per litre, adding further cost pressure for businesses that depend on vehicles, deliveries, and logistics. The UK imports around 55% of its diesel, with roughly a third of those imports coming from the USA, while restrictions on US diesel exports create another potential supply risk. The market briefing…
Read more
Research from Newcastle Building Society reveals that while young people increasingly use AI for financial advice, they still prioritise face-to-face interactions with trusted advisors. Exclusive findings for the Express’s Save Our High Street Banks crusade, strengthen demands for high street branches to remain open, as it confirms huge demand across all age groups for personal…
Read more
Consumer confidence has fallen, with the British Retail Consortium’s index dropping to -34 in September from -28 in August. The decline follows four months of improvement, with households becoming increasingly concerned about their finances and reluctant to increase spending in shops. Speculation over potential tax rises in the upcoming Budget has intensified as economists warn…
Read more
New research from Trust Payments has found that missed payments in the consumer credit and collections sector are not solely a question of customer willingness, with industry professionals also pointing to administrative errors, limited payment options and communication failures as contributing factors. The findings come as millions of UK consumers continue to experience difficulty meeting…
Read more
Latest monthly figures from the Insolvency Service for England & Wales showed that personal insolvencies decreased by 2% in August 2026 compared to the previous month, with 11,644 individuals entering insolvency in England and Wales. This was similar to July 2026 and 3% higher than in August 2025. The personal insolvencies consisted of 725 bankruptcies,…
Read more
A National Student Money Survey has found that 63% of respondents skip meals at least some of the time to save money. The data showed that surveyed students spend an average of £1,146 per month on living costs (£1,326 per month in London) with on average, Maintenance Loans fall short of spending on living costs by £467…
Read more