Credit, Collections & Insolvency News
As millions of UK holidaymakers prepare to head overseas this summer, new Freedom of Information (FOI) data obtained by Compare the Market has revealed that consumers paid £508 million in out-of-bundle international roaming charges in 2025, highlighting the continued cost of using mobile phones abroad for many travellers. The figures show consumers paid £508 million…
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New polling from StepChange Debt Charity reveals that almost one in six (15%) of adults, equivalent to more than 8 million people, find keeping up with their credit card repayments a very or fairly large burden each month, highlighting the growing challenge of credit card debt across the UK. The research, conducted by YouGov on…
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The cost of a traditional funeral has risen by £90 in just three months and by £151 since the start of the year, according to new data from Pure Cremation. The research found that the average traditional funeral now costs £4,713, a rise of 1.95% between July and April 2026 and 3.3% since January. The…
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Latest research by Generation Rent has found that, if the price of everyday groceries had risen at the same rate as private rents since 1988, a standard ten-item shop from a supermarket would cost more than five times what it does now. The 1965 Rent Act introduced regulated tenancies with long-term security of tenure and…
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Financial resilience among the UK workforce has deteriorated over the last 12 months, with just one in four (25%) of people being classified as financially resilient compared to almost a third (32%) in 2025, according to Hymans Robertson. Meanwhile, those classed as financially vulnerable have risen to 42% compared to 36% in 2025. The drop…
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New figures released today by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes fell by 1% in May 2026 Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer Finance & Mortgages and Inclusion the Finance & Leasing Association (FLA), said…
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Latest monthly figures from the Insolvency Service for England & Wales for June 2026 show that there were 11,871 personal insolvencies, 5% higher than in May 2026 and 16% higher than in June 2025. The insolvencies consisted of 674 bankruptcies, 3,879 debt relief orders (DROs) and 7,318 individual voluntary arrangements (IVAs). The 7,318 IVAs registered in…
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The Government’s Financial Inclusion Strategy is a welcome first step, but it is not a complete plan to tackle financial exclusion according to a new Treasury Committee report. The strategy fails to show: Who is excluded, Where exclusion is concentrated, Which services and products are people excluded from and Why are they excluded. Without this information,…
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New research from Rathbones suggests parents and grandparents are increasingly stepping in to fund higher education costs themselves. The research found that nearly seven in ten (69%) parents expect to cover at least half of the total cost of university, with 15% expecting to pay all or almost all costs themselves, 23% expecting to cover…
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Thousands of people in financial crisis will get faster access to the help they need, thanks to a £900,000 technology boost to speed up debt relief order (DRO) applications. The new technology will allow debt advisers to send DRO cases directly to the Insolvency Service portal. The move will make the DRO application process more…
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StepChange Debt Charity has welcomed the long-awaited Buy Now, Pay Later (BNPL) regulation coming into force on Wednesday this week (15th July), which will mean all BNPL products come under FCA regulation and include consumer protections in line with borrowing such as credit cards and personal loans. The charity has laid out what the changes…
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Recent changes to Debt Relief Orders (DROs) have successfully enabled more people in financial difficulty to access debt relief, according to an Insolvency Service review. The review assessed the impact of the 2021 and 2024 reforms, which raised the maximum debt level, increased the asset allowances, and widened access for people with low incomes and low…
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New Resolution Foundation analysis has found that income gaps between different regions across Britain have remained resolutely high over the past thirty years, including during the pandemic upheaval and ‘levelling-up’ agenda, highlighting the scale of the challenge facing PM-in-waiting Andy Burnham as he seeks to tackle geographic inequality. The research shows that before-housing-cost income gaps…
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