Credit, Collections & Insolvency News
Latest figures from Barclays show zero growth in consumer card spending in December, as households cut back on essential items and pub and restaurant meals in favour of spending on experiences. The data showed that consumer card spending growth remained flat in December, at 0.0 per cent year-on-year – significantly lower than the latest CPIH…
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New research commissioned by Co-op Legal Services reveals that almost three-fifths (59%) of married people who want to divorce shared that they felt they couldn’t due to their personal finance situations whilst a similar number (60%) feel the same due to having children. Approximately nine in ten(88%) married people believe that unhappily married couples who…
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New research by Go.Compare Money has revealed Britain’s biggest money concerns for the new year, with 45% of people saying they are anticipating a bad year financially. The survey asked consumers about their feelings towards their finances as the new year begins, as well as their top money worries. It found that more women (47%)…
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According to a free money advisory service, nearly 4,000 people searched for debt help over Christmas. Data from the Money Wellness website showed that 3,994 people visited the website on Christmas Eve, Christmas Day, and Boxing Day seeking advice on dealing with unmanageable debt. Almost 2,000 (1,835) people in London searched for support, followed by…
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New figures from Rightmove has shown that average rents are set to increase next year as demand outstrips supply in the private rental sector. The rental market study finds that the average number of enquiries sent to agents about each available property is still nearly double the level it was in pre-pandemic 2019, with an…
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Almost one in two (48%) university students have been struggling to repay their credit card balance within three months according to research by Compare the MArket, with the main reasons being the rising cost of everyday expenses (33%), increased university costs (31%), and having to prioritise other household bills such as energy or rent (23%).…
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Consumer optimism about household finances has fallen, according to data from TransUnion. The latest survey data finds that just 44% of consumers are optimistic about their household finances in the next 12 months, dropping by two percentage points from the previous quarter. This bucks the trend of rising optimism since Q4 2023. With inflation and…
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New research by Centre for Economics and Business Research (Cebr) has found that the average household expected to spend £40 more this Christmas, but real expenditure is still falling short of pre-pandemic levels Cebr says that the cost-of-living crisis and the lingering effects of the pandemic have reshaped the financial landscape for UK households. This…
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The employment gap between people living in the poorest and richest families in Britain has fallen by a third since the late 1990s according to latest research by the Resolution Foundation. The data also showed that workers in poorer households remain less likely to be satisfied with their job, and more likely to have insecure…
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Almost one million pensioner households in England and Wales could be living in water poverty by 2029/30 if the UK Government doesn’t introduce a single social tariff, according to a shocking new report by charity Independent Age. This is an increase from 2022/23 when there were 750,000 pensioner households living in water poverty. The report,…
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New research from Go.Compare Energy has revealed that 14% of consumers won’t be putting up any Christmas lights this year, so they can save on energy costs. The survey, which asked over 2000 people about their plans for Christmas decorations this year, also found that a further 28% of billpayers will be putting up fewer…
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A third (34%) of single parents have missed paying a household bill to cover the cost of Christmas according to research debt counselling service Money Wellness, More than 50% of single parents with three or more children said being alone made it harder for them to afford the festive period. One in ten said they…
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One in three are unhappy with their finances and 35% fear they won’t be able to afford the retirement they want according to research by Oxford Risk. The data showed that over-55s are struggling in the run-up to retirement with just two out of five (38%) clear on how much money they will need when…
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