Credit, Collections & Insolvency News
A graduate who grew up in deep poverty will earn 5%, over £2,800 a year, more than a more privileged peer working at the same firm with an equivalent degree a decade after graduation, highlighting the scarring effect of childhood poverty, according to new research published by the Resolution Foundation. The long shadow – funded…
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Council tax bills across England and Wales are expected to rise by an average of 5% as local authority finances are further stretched. Debt charity, StepChange says this will exacerbate existing cost-of-living pressures as household budgets are forced to stretch further. The debt charity is warning that the expected rise in council tax rates will…
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Renters are now handing over 39% of their monthly take-home pay to their landlords, on average. That’s the equivalent of two days a week worth of work being spent purely on rent according to new research by Confused.com home insurance, which found that the average monthly rent cost is now £839. Although for some, this…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 19% in January 2026. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…
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The Enforcement Conduct Board (ECB) has announced new vulnerability standards for enforcement firms and agents. The Standards provide stronger protections for people in vulnerable situations. Over 7 million cases of unpaid debts are sent out for enforcement each year, with the industry recovering over a billion pounds, much of which is for the public purse. The ECB ensures that enforcement is done fairly,…
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A new report by Barclays has highlighted how student loans significantly impact graduates’ ability to save for home deposits. The study reveals that individuals with student debt save £310 monthly, while those without save £473.70 creating a £1,963.70 gap annually. Additionally, 44% of loan holders feel repayments hinder their financial stability, and 41% believe it prevents…
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The Government has announced that millions of people and businesses who owe money to the Government will benefit from more personalised and affordable repayment support under new plans to improve how debt owed to the public sector is managed. The 2026–2030 Government Debt Management Strategy outlines how departments will better use data and earlier engagement to help people who…
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New research commissioned by subscription lender Creditspring found that more than three quarters of mothers (77%) have worried about money in the past three months because of child-related costs such as birthday parties, activities, clothes and days out. That compares with 70% of fathers. The research also suggests many mums feel responsible for managing these…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies increased by 18% when comparedby February 2025 and 6% higher than in January 2026, totalling 11,609 insolvencies. The personal insolvency data consisted of 768 bankruptcies, 4,210 debt relief orders (DROs) and 6,631 individual voluntary arrangements (IVAs). The 6,631 IVAs registered in…
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New research from StepChange has shown that one in two people (51%) have experienced problem debt, with 44% of them telling no one about their financial struggles. The debt charity is urging people to talk more openly about debt to help break down stigma and encourage those struggling to seek free, confidential advice sooner. New…
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New research by Confused.com has found that almost half (48%) of people admit to lying to their partner about their financial situation in the past. With the cost of living crisis putting financial pressure on people it’s not surprising that money can sometimes cause issues in relationships. Over one in two (58%) partners argue about…
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Debt charity, StepChange, has warned that high levels of arrears across essential bills have become the ‘new normal’ for many households. Those on the lowest incomes are being hit hardest, often forced to juggle everyday living costs while trying to repay historic debts. The report reveals that in 2025, average household arrears are up 11%…
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The Financial Conduct Authority (FCA) has published a review into the second charge mortgage market, finding that weaknesses in some firms’ practices could put borrowers, particularly those consolidating debt, at increased risk of financial harm. Second charge mortgages are often used by customers with high existing levels of debt and low financial resilience. The FCA’s…
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