Credit, Collections & Insolvency News
The tenant fee ban could save UK renters £192 million a year, new analysis has found. Researchers scouring government data found there are some 860,000 rental transactions a year across the UK, with the average tenant is being charged £223 in fees alone. But under new laws set out in the Tenant Fee Act 2019…
Read more
Over two fifths (44%) of consumers in Scotland are worried about their current level of personal debt, a new survey of over 2,000 British consumers by insolvency trade body R3 in Scotland and ComRes has found. This is notably higher than in April last year when 35% of consumers in Scotland said the same thing.…
Read more
Households have been pushed nearly £2,000 into the red in the period since Theresa May became prime minister, according to TUC analysis as she prepares to resign the Conservative Party leadership. In every reported quarter since her arrival in Downing Street (2016 Q4 to 2018 Q4), families’ outgoings have outstripped their incomes. This has resulted…
Read more
A new study across 11 markets commissioned by Mastercard has revealed that six out of seven people use digital banking solutions at least once a month, 38 per cent do so on a weekly or even daily basis. 63% use mobile banking apps from traditional banks and one in five (20%) already from digital-only banks.…
Read more
According to a new survey, half of European businesses believe their country will be cashless within ten years. The coming European Payment Report 2019 by European credit management services company Intrum, shows that a quarter of all businesses believe their country will abandon cash within five years, while another quarter believes it will happen in…
Read more
UK SMEs say that economic uncertainty (45%), ongoing digitalisation efforts (41%) and increased competition (37%) are the three biggest challenges facing their organisation in the next two years, according to new research from Robert Half UK. SMEs require strong leadership to navigate this period of change in the next two years, but a significant proportion believe…
Read more
Here is an overview of The Money Charity’s latest statistics for May 2019: Personal debt in the UK People in the UK owed £1,633 billion at the end of March 2019. This is up from £1,588 billion at the end of March 2018, an extra £852.40 per UK adult over the year. The average total debt per…
Read moreLatest household finance update statistics from UK Finance, show that £11.4 billion was spent on credit cards in April 2019 this was 11.7 per cent higher than the same month in 2018, This growth in spending reflects consumers’ increased preference for using credit cards as a means of payment, particularly online, because of purchase protection…
Read more
Generation Z is the most likely to seek out personal advice when it comes to buying a financial product, according to a new report by business process outsourcing (BPO) Target Group. The findings form part of Target Group’s latest report, which examines the attitudes of consumers from across several generations, determining what is most important…
Read more
New research by eToro has found that the female of the species to be more financially responsible than their male counterparts. According to the report, women are more likely to know exactly how much money they have in their current and savings accounts. It also emerged men spend more money on impulse purchases, dropping £65…
Read more
Visa’s UK Consumer Spending Index, compiled by IHS Markit, pointed to a further marginal decline in overall household spending at the start of the second quarter. Expenditure fell -0.5% on an annual basis during April, which was slightly quicker than the -0.2% reduction seen in March. Consumer spending has now fallen in each of the…
Read more
Discussions on energy collections are debated discussions in the latest episode of the podcast series, by software specialist Flexys. In the second episode, the software specialist is joined by Ovo Energy, Dwr Cymru Welsh Water and Bristol Energy for a discussion about how energy and water suppliers can improve the sector’s reputation for managing customers…
Read more
Financial wellbeing is deteriorating at its fastest pace since September 2017 despite a sustained rise in income from employment according to a new report IHS Markit. The report found that household finances were squeezed to the strongest extent since September 201 whilst workplace activity and incomes from employment continue to rise. The outlook towards future…
Read more