Credit, Collections & Insolvency News
Over two million Britons are reportedly in debt to illegal lenders, a rise of 500,000 since 2022, according to the Centre for Social Justice (CSJ). Britain is facing a growing illegal lending crisis as record numbers of cash-strapped households turn to loan sharks to cover everyday living costs. The number of people borrowing from unscrupulous…
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With the 2026 World Cup kicking off, new research from Lowell shows that 43% of all gamblers increase their betting activity during major sporting events or tournaments. This rises to 50.6% among sports bettors specifically, with levels climbing to as high as two-thirds in certain cities. Gambling can significantly impact personal finances, with many bettors dipping…
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Football fans are being urged to think twice before acting on financial tips shared over social occasions like the World Cup this summer, as research shares how widespread informal money tips have become. The warning comes as a study of 2,000 adults by Skipton Building Society found that nearly one in seven (15%) have been given financial…
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With the football World Cup just around the corner, new research from MoneySuperMarket has revealed that almost a quarter (23%) of Brits expect to rely on credit cards or borrowing to fund World Cup-related spending. The survey of UK adults revealed it won’t just be the beer leaving Brits with a hangover this summer, with…
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New research from the National Audit Office (NAO) has revealed that millions are missing out on vital support with energy and water bills. This comes as over £7 billion worth of debt is owed to energy and water companies. The report examined how Ofcom, Ofwat and Ofgem support consumers in vulnerable circumstances and whether people…
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The Enforcement Conduct Board (ECB) says that the Government’s plans to regulate bailiffs are too slow, stating that it is exactly one year after the Ministry of Justice announced that it would legislate to make independent regulation of bailiffs mandatory. The enforcement industry receives over 7 million cases for enforcement every year and collects over…
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Ovo Energy has agreed to pay more than £10 million to customers after energy regulator Ofgem found a lack of monitoring of vulnerable customers with prepayment meters (PPMs). The regulator’s investigation concluded that OVO’s inadequate monitoring of PPM customers, including those on the Priority Services Register (PSR), led to breaches of Ofgem’s rules designed to…
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British consumers are among the most pessimistic in Europe about their finances in the year ahead, as instability and conflict in the Middle East tops the list of the biggest financial concerns across the continent according to new Europe-wide research from CRIF. The data reveals that half of all European consumers (50%) cite Middle East instability…
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One in four (25%) adults borrowing money from their parents for bills such as rent or insurance admit they don’t always tell their partner about the extra help, even though they share the bill, according to new polling data conducted by Compare the Market. This proportion rises to a third (33%) among Gen Z and…
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Credit Connect hosted its second annual Spring Series of events at the end of May at Eastwood Hall Hotel in Nottingham. The event opened with the first-ever Industry Leaders networking dinner, which hosted 60 attendees who have been nominated and ratified by Credit Connect’s Industry Leaders partner associations: CIVEA, CICM, CCUA, CCTA, Cifas and Registry…
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A fifth of adults in the UK are feeling constant ‘financial regret’ over their spending habits, with pressures felt particularly strongly by younger generations, according to research from Hymans Robertson Personal Wealth. The poll found that more than a fifth (21%) of people said they regret overspending on “consumables” such as clothes and meals out,…
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Eight in ten gamblers aged 18-24 (83%) will bet more frequently in 2026 due to major sporting events like the World Cup, with a quarter (25%) doing so to help cover essential bills, according to new research from Nationwide. By comparison, less than half (37 per cent) of those over 55 expect to gamble more.…
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New consumer survey and spending data from the Vanquis Financial Wellbeing Index has revealed that one in three workers earning under £40,000 are creating additional income streams to make ends meet. At the same time, households continue saving less than £3 in every £100 earned. Despite widespread efforts to manage money carefully, many households simply…
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