Credit, Collections & Insolvency News
Age UK has warned that there is no room for complacency when it comes to reducing poverty among our growing older population and calls on the Government to do more to address it. Around one in six, equivalent to 1.9 million, pensioners already live in poverty and the Charity is worried that unless something changes,…
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New data from Hargreaves Lansdown has found that on average, self-employed households have £89 left at the end of the month, compared to £244 among employed households. The self-employed are also more vulnerable if things go wrong: 70% of employed households have enough redundancy cover to be resilient, whereas only 12% of those where the…
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Over half (55%) of people are in debt following Christmas expenses having spent £635 (on average) across the festive break according to latest research by Confused.com. The date showed that nearly three in ten (29%) think it will take them over a month to financially recover from Christmas 2025. On average, people take a month…
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Latest data from Hargreaves Lansdown has found that households with unsecured debts (like credit cards and loans) spend an average of £259 a month on them. Bank of England showed that the annual growth rate for all consumer credit was 8.1% and for credit cards it was 12.1% – the highest since January 2024. In…
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A new report on the DWP, the Public Accounts Committee (PAC) is calling out the unacceptable waits some people face for their Personal Independent Payment (PIP) to be processed, which can cause them to get into debt and push them into poverty. The report cites examples of people waiting over a year for their PIP…
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New research by Nationwide suggests 2026 will be a year for leisure and travel spending, despite more than half (54%) being concerned about the rising cost of living. Longer holiday and shorter breaks, festivals, concerts, experiences and wellness dominate the wish lists of more than four in ten (41%) consumers determined to treat themselves this…
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On the first Monday of the year, (5th January, 2026), StepChange Debt Charity had its busiest day in more than a year, as 800 clients went through debt advice, which is higher than any day in 2025. The charity has also seen nearly 100,000 people visit its website since the start of 2026. Almost 4,000…
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Free debt and money advice service, Money Wellness, has reported a significant rise in people seeking support over the festive period, highlighting growing financial pressures on households as they head into 2026. Between Christmas Eve and Boxing Day, 6,083 people contacted Money Wellness for advice on managing debt – a 29% increase on last year.…
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Latest Bank of England data has shown that credit card borrowing rose at the fastest annual rate for almost two years in November. Net borrowing through credit cards was £1 billion, up from £700m in October 2025. Net borrowing of consumer credit by individuals increased to £2.1 billion in November from £1.7 billion in October.…
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A KPMG survey has found that two-thirds of people believe the economy is worsening. Despite almost no change in how households feel about their own finances throughout the past year, 2025 saw a steep decline in sentiment towards the economy. Entering 2026, the majority of people (56%) feel secure in their personal finances, a 1%…
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More than half of couples would consider staying together for the sake of the finances, with only 40% of people stating that they would never stay in a bad relationship for financial reasons, according to research by Opinium for Hargreaves Lansdown. The first Monday back to work after Christmas has been dubbed ‘Divorce Day,’ because…
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Data from Vanquis’ Financial Wellbeing Index found that one in five households earning under £40,000 had planned to cut back on Christmas spending in 2025. Across all households, the Index revealed that people were most likely to trim back on treats like eating out and parties while doing their best to protect essentials such as…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies decreased by 12% in November 2025 to a total of 9,343 compared to the October 2025 figure of 10,612. The Insolvency Service moved to a new case management system on 1st November 2025. As a result, there was a…
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