Credit, Collections & Insolvency News
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…
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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…
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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…
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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…
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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…
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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,…
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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…
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More than 120 organisations, including Energy UK and Age UK, are urging the Government to remove policy levies embedded in energy bills. The organisations have signed a letter to the government warning that high electricity costs risk driving business closures and job losses, and exacerbating cost of living challenges, unless the government acts in the…
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Food and non-alcoholic drink inflation is expected to reach nearly 4% (3.9%) by December 2026, according to the latest Food Inflation Forecast from The Food and Drink Federation (FDF). Consumers are expected to feel the hit of the conflict in Iran and climate-related events – including El Niño and this summer’s droughts across the UK and Europe…
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More than six million people who expect to pay housing costs in retirement don’t know how they’ll afford them, according to the latest research from Royal London. The research found that around one in three UK adults (34%), equivalent to 18.7 million people, either expect to pay housing costs in retirement or are already doing so. Four in ten (39%) of the approximately 16…
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Money Wellness, four MPs and twelve organisations are leading a call to make the public insolvency register private. Someone fleeing an abusive partner who needs help with their debts can have their name, date of birth and home address published on the Government’s Individual Insolvency Register. The register is publicly accessible for anyone to search.…
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The Department for Environment, Food & Rural Affairs (Defra) must work more closely with households, communities and industry to ensure the food supply chain can withstand increasingly likely and severe shocks, including extreme weather events, cyber-attacks and disease outbreaks, according to a new National Audit Office (NAO) report. The Government has designated food as one…
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Newly commissioned research from TopCashback has revealed that more than a quarter (27%) of adults view September as a bigger money reset than January. In fact, a third (32%) of UK adults believe September is the perfect time to get their finances back on track. However, despite the desire to reset, the findings reveal a…
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