Credit, Collections & Insolvency News
Ahead of household energy bills rising by 4% from 1st October, Cornwall Insight have released new forecasts which suggest a bigger increase is on the way in the new year. The price cap is expected to rise by 16% compared to October, reaching £1,999 a year for a typical dual-fuel household¹ in January 2027, an…
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Consumer credit borrowing grew to £2.5 billion in August, up from £2.1 billion in July and above the previous 6-month average of £1.9 billion. Within this, credit card borrowing was £1.2 billion in August (up from £0.9 billion in July) and borrowing through other forms of consumer credit (such as car dealership finance and personal…
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Diesel prices have reached a record 199.18p per litre, adding further cost pressure for businesses that depend on vehicles, deliveries, and logistics. The UK imports around 55% of its diesel, with roughly a third of those imports coming from the USA, while restrictions on US diesel exports create another potential supply risk. The market briefing…
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The Insolvency Service is encouraging anyone who paid for a debt relief order (DRO) but did not submit their application to make contact for a refund. Thousands of people can claim money back after the £90 DRO application fee was scrapped The Insolvency Service has written to everyone affected, but some customer contact details may…
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Research from Newcastle Building Society reveals that while young people increasingly use AI for financial advice, they still prioritise face-to-face interactions with trusted advisors. Exclusive findings for the Express’s Save Our High Street Banks crusade, strengthen demands for high street branches to remain open, as it confirms huge demand across all age groups for personal…
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Britain’s ‘Mumlords and Dadlords’ are helping their adult children onto the housing ladder, with more than half of parents who charge rent using the money to help their offspring buy their first home, according to new research from Nationwide. The findings highlight the increasingly important role families, and the family home, are playing in helping…
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With households already stretched by the cost of food, energy and other essentials, new research suggests millions of UK drivers are just one fault away from a financial shock. New research commissioned by subscription lender Creditspring among 1,273 UK drivers found that a quarter (25%) have no money put aside specifically for vehicle emergencies, leaving…
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Citizens Advice has warned that while energy supplier customer service is slowly improving, suppliers must go further to support households ahead of a challenging winter. The charity’s latest Star Rating, covering April to June 2026, shows a small improvement across the board. The median score sits at 3.4 out of 5 – up from 3.26…
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Ofgem’s latest social obligations (debt and arrears) report has revealed that total domestic customer debt and arrears, across a period of more than 91 days, now top £5 billion among households in Britain. This marks a 4.8% increase from Q1 2026 and a 13% year-on-year increase. This comes as StepChange data further illustrates the pressures…
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New figures released by the Finance & Leasing Association (FLA) have shown that second charge mortgage new business volumes grew by 1% in July 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 “The…
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Millions of households that appear financially secure today could be vulnerable to future financial shocks, according research by Yorkshire Building Society in collaboration with the University of Bradford, which provides a practical framework for understanding financial vulnerability and resilience. Drawing on data from 10,000 UK adults and advanced predictive modelling, the report finds that many households…
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New research from Trust Payments has found that missed payments in the consumer credit and collections sector are not solely a question of customer willingness, with industry professionals also pointing to administrative errors, limited payment options and communication failures as contributing factors. The findings come as millions of UK consumers continue to experience difficulty meeting…
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The Financial Conduct Authority (FCA) has issued a fresh warning to people in need of debt advice about the importance of seeking free, impartial and trustworthy advice. The Regulator has identified several red flags to look out for to ensure consumers are dealing with properly regulated and legitimate debt advice providers. The red flags include:…
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