Credit, Collections & Insolvency News
Energy consultancy Cornwall Insight has predicted that energy bills are expected to fall to about £2,200 from July. The decrease will mean that typical annual household energy bills will have fallen from £4,279 now to £3,208 from April, and then will ease to roughly £2,200 for the remainder of the year. The forecasts show prices…
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The latest UK Consumer Prices Index (CPI) figures, published by the Office for National Statistics (ONS) show that CPI rose by 10.5 percent in the twelve months to December 2023, down from 10.7 percent in November. The drop was due to fuel prices falling along with clothing and footwear prices, however, this was offset by…
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A third of people have poor or very poor debt resilience according to new analysis by HL Savings & Resilience Barometer. The research also found that higher earners are more likely to score poorly for debt resilience than lower earners. 38% of those in the fourth quintile (who earn more than three fifths of the…
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Surprise economic growth in November means that the UK is unlikely to have fallen into recession last year. But this will be of cold comfort for many families who are still in the midst of a deep living standards downturn according to the Resolution Foundation. With latest ONS GDP data showing a surprising growth of…
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Cash usage increased for the first time in 13 years in 2022, as many households respond to the cost-of-living crisis by budgeting with physical money. according to latest data from Nationwide Building Society Data The research showed that more than 30.2 million cash withdrawals were made from Nationwide ATMs last year – a 19 per…
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New research from Go.Compare has discovered the UK’s top five financial concerns as we start the new year, with spending less on outgoings and saving into a deposit account topping the table. More than 2,000 UK adults were surveyed by the comparison site and found that 58% of those questioned admitted they were anticipating a…
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PwC has forecasted that UK real wages in 2023 are set to fall back to 2006 levels, which could see British workers overtaken by French counterparts in G7. House prices are set to decline by 8%, and sales to fall below one million for first time in a decade with the UK set to see…
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New research by Zuto Car Finance has found that only one in ten (13%) of consumers can only stick to their financial new year’s resolution for a week. The research surveyed consumers to determine their top ten financial goals of 2023, after 40% claimed they are worried about their money next year. 37% want to…
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Household bills have surged by £1,316 in the past 12 months, according to new research by Comparethemarket. The research analyses the cost of energy, home, and motor insurance, and reveals bills have increased significantly in the past year. The research found that a typical household spent £3,280 on their energy, car and home insurance in…
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Here is an overview of The Money Charity’s latest statistics for December 2022 Personal debt in the UK People in the UK owed £1,827.2 billion at the end of October 2022. The average total debt per household, including mortgages, was £65,746 and per adult was £34,547, around 107.4% of average earnings. Net mortgage lending rose by…
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GfK’s consumer confidence index increased by just 2 points to minus 42 in December compared with November. This represents a record eighth month in a row that the measure of financial optimism gave a reading of -40 or worse on an index where a minus score represents negative confidence. Britons’ confidence in their personal finances…
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Analysis by Legal & General suggests that more than 2.5 million over-55s plan to delay retirement as a result of the cost-of-living crisis, with up to 1.7 million of these saying they expect to have to keep working indefinitely. On average, over-55s expect to stay in work for an extra three years. Nearly two-thirds of…
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Latest figures from The Office for National Statistics (ONS) consumer price index (CPI) shows that inflation stood at 10.7 per cent in November, down from its 41-year high of 11.1 per cent in October. Inflation has slowed thanks to an easing in costs of second-hand cars and motor fuel. Commenting on the date Joanna Elson…
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