Credit, Collections & Insolvency News
Over a third of adults (35 per cent) say that doing maths makes them feel anxious, while one in five (20 per cent) are so fearful it even makes them feel physically sick, according to new research from KPMG UK and the charity National Numeracy. The study of 3,000 UK adults found that numeracy gives…
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Consumer confidence has risen for the fourth month in a row to its highest in 15 months as households take a more positive view about the economy and their finances, despite inflation still in double digits in May. GfK’s headline confidence index showed a rise to -27 in May from -30 in April, moving further…
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A majority of young people enter adulthood ‘financially illiterate’, suggesting they are poorly equipped to make good financial decisions in later life according to new research from Compare the Market and MyBnk. The research suggests that 3.4 hours of financial education each month could significantly boost financial literacy for young people in the UK. Almost…
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Money is the number one cause of quarrels for three out of 10 couples in the UK, according to a new survey by Starling Bank wth couples aged 45-54 having the most disagreements (39%), along with parents (37%). The research, which questioned 4,000 over 16s in the UK, found that couples who share finances have…
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New research from Standard Life has found that first salaries might not stretch as far as young workers hope as the reality of paying for necessities like utilities and council tax kicks in. The number of people making regular ‘everyday’ payments rises significantly among those aged 25 to 34, compared to those aged 18 to…
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New analysis by Policy in Practice finds that the total amount of unclaimed income-related benefits and social tariffs is now £18.7 billion a year. The research estimates that £7.5 billion of Universal Credit is unclaimed by 1.2 million eligible households and £2.9 billion of Council Tax Support is unclaimed by over 2.7 million eligible households…
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Research from HSBC and housing charity Shelter has found that one in five people feel less confident than they did six months ago about being able to pay their rent or mortgage on time for the rest of the year. The survey of more than 2,100 adults across the UK shows that those in the…
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New figures released by the Trussell Trust have revealed that almost 3 million (2,986,203) emergency food parcels were provided to people facing hardship between April 2022 and March 2023, with more than a million of these parcels provided for children. This is the most parcels food banks in the charity’s UK-wide network have ever distributed…
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Consumer confidence recovered further in April, rising to its highest level since February 2022. Confidence rose by six points to -30, with an improvement in all areas measured in the index by market intelligence company GfK. GfK’s long-running Consumer Confidence Index increased six points to -30 in April. All measures were up in comparison to…
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New research by Credit Karma has found that almost one in four (23%) parents can no longer afford their current childcare arrangements. In the wake of the Spring Budget, which promised 30 hours per week of free childcare for under-fives by 2025, the Great British Credit Report has revealed many parents are being priced out of the…
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New research by KPMG has found that one in ten consumers say they are using credit more so far in 2023 and has indicated how households may respond if they no longer receive energy bill support payments from April. The Government’s Energy Bills Support Scheme provided a monthly discount of around £67 from October through…
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Almost half (45 per cent) of consumers say that the cost-of-living crisis will have an impact on their Easter celebrations this year, according to a new study from TopCashback. In fact, over a third (36 per cent) will not be celebrating Easter at all with financial struggles being cited as one of the most popular…
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This weekend’s increase in the minimum wage won’t ‘lift the pressure’ on hard-pressed families, the TUC has warned. The TUC highlighted that the minimum wage will rise below inflation and far lower than soaring food prices. Analysis by the union body shows that minimum wage workers will miss out on £124 this year as a…
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