Credit, Collections & Insolvency News
Food price inflation now stands at 14.7%, according to latest research. by data insights business specialist, Kantar. Prices are at record high since the firm began tracking prices in this way in 2008. Soaring energy prices and labour costs have pushed prices up. Fraser McKevitt, head of retail and consumer insight at Kantar, said “Yet…
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New research by the Money and Mental Health Policy Institute has found that only 1 in 7 consumers (14%) with a mental health problem have told their financial services firm about their condition. Money and Mental Health’s research shows that getting the right support from a financial services firm to disclose a mental health problem…
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One in four (28.4%) children with care worker parents are growing up in poverty according to research by the TUC. The analysis carried out by Landman Economics shows that 220,000 kids with at least one social care worker as a parent are in poverty. The union body warned this number is on course to rise…
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Britons looking to grow their families and struggling to do so are dipping into their savings (34%), swiping their credit cards (19%), or borrowing money from friends and family (19%) to finance their fertility treatment. What’s more, 73% of those who have already undergone treatment say they were willing to take on debt to do…
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One in four (26%) consumers are worried about the cost of living crisis that it’s costing them a good night’s sleep, according to new research from Novuna Consumer Finance. The study into the nation’s sleeping habits, found that the economic climate, and in particular fears about family finances, were front of mind for 17.5million people struggling…
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Over two-thirds of adults are planning to cut back on festive spending this year due to a worsening cost of living crisis, according to a survey by Accenture. Despite concerns around Brexit, spending on Christmas purchases is likely to increase in the U.K. this year, with more than a third (37 percent) of consumers planning…
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Here is an overview of The Money Charity’s latest statistics for October 2022 Personal debt in the UK People in the UK owed £1,816.1 billion at the end of August 2022. The average total debt per household, including mortgages, was £65,346 and per adult was £34,337, around 107.4% of average earnings. Net mortgage lending rose by…
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The cost of some lowest-priced food items rose by more than 50% as new ONS figures show many people struggling to pay energy bills and rents. The analysis found that the cost of the lowest-priced vegetable oil and pasta have both risen by almost two thirds in the last year, The new experimental figures, which…
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New findings from the HL Savings & Resilience Barometer in July 2022, produced with Oxford Economics have found that the higher the level of education your parents reached, the more likely you are to have money. The research found that 69% of those whose father went to university have enough cash at the end of the…
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Almost half (47%) of the Uk population struggle to talk about debt with family and friends, new research by Go.Compare Loans has revealed The current cost of living crisis has left 41% of UK adults worried about whether they will be able to pay their bills on time. For this reason, financial transparency with loved…
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The Financial Conduct Authority (FCA) has found 7.8 million people are finding it a heavy burden to keep up with their bills, an increase of around 2.5 million people since 2020. The FCA has published a snapshot of the latest edition of its landmark Financial Lives survey, which was carried out between February and June…
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New research by Aviva has suggested that feelings of anxiety are leading people, especially younger generations, to avoid looking at their finances at all, with 60% of Generation Z and millennials (aged 18-41) adopting this approach because they feel ‘they are often out of my control’. In times of heightened turmoil that is impacting households…
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Office for National Statistics (ONS) data shows that inflation has risen above 10% for the second time this year, with the consumer prices index rising to 10.1% in September from 9.9% in August. Soaring prices for food and drink were the biggest driver behind the latest cost of living increase, with an annual rise of…
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