Credit, Collections & Insolvency News
The new president of the principal trade association for civil enforcement agencies in England and Wales has pledged to drive reform, strengthen standards and improve public understanding of the profession. Amy Collins, Managing Director of Leicestershire-based enforcement agency Rundles, has taken on the role of Chair of the Civil Enforcement Association (CIVEA) at a pivotal…
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More than half (58%) of adults who are single or live alone say they could not cope with an unexpected bill of £850 according to new research by Aviva According to the research, people who live alone spend on average a little over £630 a month on essential costs, such as food/ groceries, transport, council…
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The British Retail Consortium (BRC) is calling on the government to act on soaring domestic policy costs, as new polling shows four in five people (80%) fear the Middle East conflict will push up food prices. Retailers are already absorbing significant additional costs from the conflict. Rising gas and electricity prices are pushing up production,…
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Barclays has announced an additional investment of almost £4 million in debt charity, StepChange. The announcement builds on its longstanding partnership with and regular financial contributions to StepChange, and backs the most significant digital transformation in the charity’s history by helping more people across the UK access free, impartial debt advice sooner. With nearly one in four adults…
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New research by Compare the Market reveals the true scale of unexpected bills across the UK, showing that “surprise” expenses are actually a highly common and costly part of everyday life. With almost seven in ten (69%) people caught off guard by significant surprise expenses, the data highlights how regularly these costs occur and the…
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Three million households are being forced to skip meals and cut family visits, according to new research from Which? Which?’s latest Consumer Insight Tracker shows that households across the country are having to take more and more drastic measures to mitigate rising costs. In the month to 10th April, analysis found consumer confidence fell to…
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New research by Age UK has found that 3.4 million (28%) pensioners, more than one in four, are struggling financially, and nearly half of them have been struggling for three years or more. Notably, a fifth (22%) of those struggling, equivalent to 740,000 aged 66+ said they have been struggling financially for more than five…
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A new study released by Money Advice Liaison Group (MALG) and AI firm Wyser has outlined how generative AI could reshape the UK’s regulated debt advice landscape, if deployed with precision, humility and human oversight. The new research funded by the Money & Pensions Service (MaPS) highlighted the deep structural complexities, widespread vulnerability and a…
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A survey of 2,000 UK consumers found a clear generational divide in financial literacy, with 18-24-year-olds consistently less confident and less informed than older age groups on how credit works according to research by Creditspring. Just 45% of young adults said they understand what ‘APR’ means, compared with 67% of over-55s. Fewer than half (46%)…
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New research from debt management firm Lowell has revealed that on average, it takes families until mid-April (3.8 months) to clear their festive debt. The survey found that 74% of UK families relied on credit cards and Buy-Now-Pay-Later schemes to help cover the cost of Christmas. While some families have the luxury of being able…
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Consumer confidence has fallen to its lowest level since October 2023, according to the GfK consumer confidence index, which dropped four points to minus 25. This decline marks the third consecutive month of falling confidence and the largest drop since April 2025. The deepening concern was driven by perceptions of the UK economy, with a…
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Latest analysis has found that enforcement agents signposted thousands of people in financial difficulty to specialist advice through an online support hub within the first year of its launch. The CIVEA-NSN Support Hub was set up by the National Support Network (NSN), in partnership with the Civil Enforcement Association (CIVEA), wad launched to help people…
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New official figures published by Accountant in Bankruptcy (AiB) show a marked deterioration in both personal and corporate financial distress across Scotland in the first quarter of 2026, with insolvencies rising significantly compared with the same period a year ago. There were 2,003 personal insolvencies, encompassing bankruptcies and protected trust deeds, in the January to…
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