Credit, Collections & Insolvency News
Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies decreased by 4% in October 2025 to a total of 10,552 individuals. The figures were 4% lower than in September 2025 and 14% higher than in October 2024. The insolvencies consisted of 599 bankruptcies, 3,846 debt relief orders (DROs)…
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Cornwall Insight has released its final forecast for the January – March 2026 Default Tariff Cap (price cap), following the closure of the observation window on 18 November. The new forecast predicts the cap will fall to £1,733 a year for a typical dual fuel household in the new year. This would represent a decrease…
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Latest data from UK Finance has shown that credit card spending has risen to £21.2 billion, 2.4 per cent higher than August 2024. Outstanding balances on credit card accounts have grown by 7.5 per cent over the twelve months to August and 47.9 per cent of outstanding balances incurred interest compared to 49.1 per cent in…
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Latest data from UK Finance has shown that home repossessions rose sharply in Quarter 3 (Q3) 2025, but mortgage arrears fell. The analaysis showed that there were 1,390 homeowner repossessions, up 51% annually, and 900 buy-to-let repossessions, with this up 29%. Despite this, levels remain close to pre-pandemic norms and well below long-term averages, with…
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The average length of energy debt repayment plans for electricity usage has now surpassed five years, jumping from three years just 12 months ago. According to data from energy providers, obtained via a Freedom of Information (FOI) to the energy regulator Ofgem submitted by Compare the Market, energy bill payers on debt repayment plans for…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 22% in September 2025 Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…
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Almost half of parents (46%) say they’ll prioritise their children’s Christmas experience over every other area of household spending this year, according to new research from Thinkmoney. After another year of rising prices and stretched budgets, many families are determined to keep the festive magic alive, even if that means cutting back elsewhere. Nearly a…
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The Treasury has unveiled its Financial Inclusion strategy which will aim to bring a focus on building financial resilience for households most at risk of problem debt. The Financial Inclusion Committee’s mission is to tackle barriers to individuals and households’ ability to access affordable and appropriate financial products and services. The Treasury said its new…
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New data from the Vanquis Financial Wellbeing Index has shown that these people lack the confidence to have children or grow their families, with many taking on second jobs and cutting back on non-essentials to cope financially. The report shows that only 14% of householders earning under £40,000 feel confident in their ability to afford…
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Nearly half of the public (48%) say they would react aggressively or with verbal or physical abuse towards an Enforcement Agent(commonly known as a bailiff), visiting their property despite public sympathy for their role, according to research by the Civil Enforcement Associations (CIVEA). Contrary to this, the findings also show strong public support for the…
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New research from financial wellbeing provider Money Wellness found that 22% of higher earners (those earning between £35,000-£54,999) feel uncomfortable talking about money, almost double the 12% of lower earners (earning £17,000 – £34,999) who feel the same. Despite the discomfort, financial struggles affect all kinds of households. Nearly one in five (18%) say they’re scarcely…
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Most people wait until their money worries reach tipping point before asking for help, according to new research by Lowell, finding that nine in ten people delay seeking help until their financial situation becomes critical. The study, conducted by Lowell to mark Talk Money Week, found that only one in ten people seek help at…
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New research commissioned by debt charity StepChange and Equifax has uncovered the profound and often hidden financial challenges faced by neurodivergent individuals. The research, which combined an online survey with in-depth interviews of neurodivergent individuals experiencing debt, found that almost all survey respondents (97%) felt that being neurodivergent presented challenges when it came to managing…
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