Credit, Collections & Insolvency News
One in four (25%) adults borrowing money from their parents for bills such as rent or insurance admit they don’t always tell their partner about the extra help, even though they share the bill, according to new polling data conducted by Compare the Market. This proportion rises to a third (33%) among Gen Z and…
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Credit Connect hosted its second annual Spring Series of events at the end of May at Eastwood Hall Hotel in Nottingham. The event opened with the first-ever Industry Leaders networking dinner, which hosted 60 attendees who have been nominated and ratified by Credit Connect’s Industry Leaders partner associations: CIVEA, CICM, CCUA, CCTA, Cifas and Registry…
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Eight in ten gamblers aged 18-24 (83%) will bet more frequently in 2026 due to major sporting events like the World Cup, with a quarter (25%) doing so to help cover essential bills, according to new research from Nationwide. By comparison, less than half (37 per cent) of those over 55 expect to gamble more.…
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New consumer survey and spending data from the Vanquis Financial Wellbeing Index has revealed that one in three workers earning under £40,000 are creating additional income streams to make ends meet. At the same time, households continue saving less than £3 in every £100 earned. Despite widespread efforts to manage money carefully, many households simply…
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The latest data from the ONS on households’ costs highlights the higher rate of inflation that renters are experiencing compared to homeowners. Mortgagors and outright owner occupiers each had the lowest annual inflation rate of all tenure types, of 3.6% in the year to March 2026 with mortgagors experiencing a slight decrease from 3.7%; both…
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Research conducted by Updraft has revealed that Brits are expected to accumulate an average of £1,641 in credit card debt over the summer months, with many falling into the trap of overspending, missing grace periods and accruing interest. In fact, for some, summer 2025 spending may not even be paid off yet. Updraft surveyed 2,002…
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Research from St James’s Place has shown that average household wealth has fallen 17.5% over the last year, dropping from £126,482 to £104,329. More than a third of people said their financial position has worsened over the last twelve months, while one in five households now say they are struggling financially. The data finds that…
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Households reduced spending in April, marking the first annual decline in card spending since late 2024. Barclays reported a 0.1% fall overall, with travel spending dropping 5.7% as consumers became increasingly cautious. Fuel spending rose sharply due to higher oil prices and concerns linked to Middle East tensions. The data showed that consumer card spending…
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New research by MoneySuperMarket shows that raising a child in the UK costs anywhere between £143,412 and £500,982, depending on the childcare and schooling choices families make. By combining the latest Office for National Statistics (ONS) data with a new survey of UK parents, MoneySuperMarket’s analysis shows how underestimated the financial commitment of parenthood really is. Even when families can opt out of pre-school nursery…
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More than half (58%) of adults who are single or live alone say they could not cope with an unexpected bill of £850 according to new research by Aviva According to the research, people who live alone spend on average a little over £630 a month on essential costs, such as food/ groceries, transport, council…
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The British Retail Consortium (BRC) is calling on the government to act on soaring domestic policy costs, as new polling shows four in five people (80%) fear the Middle East conflict will push up food prices. Retailers are already absorbing significant additional costs from the conflict. Rising gas and electricity prices are pushing up production,…
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A survey of 2,000 UK consumers found a clear generational divide in financial literacy, with 18-24-year-olds consistently less confident and less informed than older age groups on how credit works according to research by Creditspring. Just 45% of young adults said they understand what ‘APR’ means, compared with 67% of over-55s. Fewer than half (46%)…
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New research from debt management firm Lowell has revealed that on average, it takes families until mid-April (3.8 months) to clear their festive debt. The survey found that 74% of UK families relied on credit cards and Buy-Now-Pay-Later schemes to help cover the cost of Christmas. While some families have the luxury of being able…
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