Credit, Collections & Insolvency News
One in seven people in the UK are skipping meals or going without food, a new TUC poll has revealed today The poll carried out for the TUC by Opinium showed that 14% people across the UK are having to skip meals or go without food to make ends meet. However, in nearly 50 (47)…
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Nine in ten (93%) parents are cutting back on spending to get through the October half term, according to Comparethemarket’s latest Household Financial Confidence Tracker. The research also found that the cost of childcare during the holidays is causing stress for the majority of families in the UK. Almost two in three (62%) parents with children…
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Gambling treatment and support services need to dovetail better with debt advice, to ensure that recovery pathways for people affected by gambling harm are more likely to succeed, according to a new report by the University of Bristol in conjunction with StepChange Debt Charity, supported by the Gambling Commission. The report finds that gambling is…
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The EY Item Club estimates a 0.3% fall in GDP for the whole of next year, downgrading a previous forecast of 1% growth. It is predicted that GDP should return to growth in H2 2023. before expanding 2.4% in 2024 and 2.3% in 2025. It expects GDP to grow by 4.3% overall this year, with…
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Latest research by The Bank of England’s Credit Conditions Survey suggests more households and businesses will default on loans in the coming months, with lenders expecting the availability of mortgages and consumer and corporate credit to decline. The Bank of England says that this is likely to see default rates on mortgages, credit cards and…
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Almost three-quarters of consumers are concerned about having enough funds to manage the festive shopping period, according to a new report from fintech platform Trust Payments. The survey of 2,000 residents in the UK to find out their spending habits, purchase patterns and financial concerns found that not only is the festive season a concern…
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Latest figures from Barclaycard show that more than half of consumers are cutting back on non-essential spending with sales at bars, pubs and clubs down 0.4% in September compared with a year earlier. This marks the first time sales have fallen since March 2021 when pandemic restrictions began easing. Consumer card spending grew 1.8 per cent year-on-year…
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At least one in five working-age families in most UK constituencies would lose out by hundreds of pounds on average if real-terms benefit cuts go ahead, a study Joseph Rowntree Foundation (JRF) has found. JRF has used the latest official data to produce a comprehensive analysis of which parliamentary constituencies will be most affected if…
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Eight out of ten people (81%) say they will stop saving money this year due to the demands of the current cost of living according to research by Hodge Bank A study from specialist lender and savings provider Hodge has also found more than half (56%) of people in the UK* will look to use…
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Six in ten households (63%) who are not confident they will be able to pay their bills in the coming weeks have taken no steps to strengthen their finances according to Comparethemarket’s new Money Action Index. The research shows that almost two-thirds (64%) of households worried about the cost of living have found it difficult to pay…
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More than 733,000 retirees across the UK are preparing to return to work as the cost-of-living crisis escalates, according to new research by My Pension Expert. The research found that, for 12% of those in retirement, rising inflation has ‘upended’ their retirement plans. More than a third (34%) of UK retirees are worried they will no…
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The monthly cost of repaying a mortgage has seen the second largest annual spike, with just energy bills increasing at a greater rate according to research by Revolution Brokers. The research analysed the annual increase in a number of household costs, from energy bills to mortgage payments, water and sewage and food and drink, to…
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New research from Lowell has found that more than a quarter (27%) of Brits don’t have the ability to save money due to their financial situation and over one in five (22%) revealed that they have mental health difficulties directly caused by money. Over the past 90 days, in the UK search terms for ‘I…
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