Credit, collections & insolvency news
One in eight women who held a joint mortgage in the last two years experienced joint mortgage economic abuse from a current or former partner – equivalent to over 750,000 people, according to a new report by the charity Surviving Economic Abuse. The report, ‘Locked into a mortgage, locked out of my home’, funded by…
Read more
A new report from the Credit Services Association has found that public perceptions of debt enforcement are at odds with reality, with anxieties about talking to a debt collector about arrears out of line with the likelihood of enforcement proceedings. The report titled ‘ Tackling the Engagement Gap: Addressing the reluctance of consumers to discuss…
Read more
Over half (51%) of adults believe that they have become more competent in managing their finances over the past 12 months, new research by SmartSave, a Chetwood Financial brand, has found. The digital bank commissioned an independent, nationally representative survey of 2,000 UK adults, which revealed that due to their financial constraints, nearly half of…
Read more
A new report released UK Finance has set out the financial services industry’s impact and recommendations for boosting financial literacy in the UK for children and young people. Although financial education is increasingly recognised as a fundamental life skill, there is limited public funding for it. Financial services are the biggest funder of financial education…
Read more
New research by Aviva has found that almost three-quarters of employees (73%) said the cost-of-living crisis has made them feel more anxious about their finances. The analysis also found that 56% of employers think their employees are worried about their financial wellbeing. This might be because people are not talking about it, with half of…
Read more
Here is an overview of The Money Charity’s latest statistics for August 2024 Personal debt in the UK People in the UK owed £1,856.8 billion at the end of June 2024. The average total debt per household, including mortgages, was £65,380 and per adult was £34,612, around 96.3% of average earnings. Net mortgage lending increased by…
Read more
More than three-quarters (78%) of students fear how they will get through University as escalating bills, rent and prices pile pressure on their limited finances, research from Nationwide shows. Nationwide carried out a poll of 2,000 UK University students to understand better how students are managing their money. It revealed that while the average student…
Read more
Fair for You has launched a new campaign with TV presenter Gail Porter in a bid to try to help six million people in furniture and appliance poverty. Porter, who fought back from crippling bankruptcy and homelessness, with data showing that six million people are living without an essential item like a washing machine or…
Read more
Over two fifths (43%) of UK adults believe that their financial situation will improve in the next 12 months, new research by SmartSave, a Chetwood Financial company, has found. The digital bank commissioned an independent, nationally representative survey of 2,000 UK adults. Of those who said they thought they would be in a better financial…
Read more
Debt advice specialist, Money Wellness has warned the cost-of-living crisis is far from over despite the topic falling down news agendas in recent months. The organisation reiterated the warned after referring more than 21,000 people to food banks during the first six months of the year – up from 10,622 in the last half of…
Read more
Consumers have reduced their spending due to poor weather and the cost of living crisis according to latest British Retail Consortium data. The report shows that annual shop price inflation remained unchanged at 0.2% in July, the lowest rate since October 2021. Non-food price deflation continued at 0.9%, as retailers reduced prices to attract consumers.…
Read more
Here is an overview of The Money Charity’s latest statistics for July 2024 Personal debt in the UK People in the UK owed £1,852.8 billion at the end of May 2024. The average total debt per household, including mortgages, was £65,239 and per adult was £34,537, around 96.0% of average earnings. Net mortgage lending increased by…
Read more
More than half (54%) of UK retirees expect to work longer than they would like, on average by seven years, highlighting a worrying gap between people’s desired retirement age and the adequacy of pension savings. In addition to that, over a quarter (27%) of those who have made retirement plans don’t feel that they would…
Read more