Credit, Collections & Insolvency News
More than two million households say they won’t turn on their heating this winter, an increase of a fifth (22%) compared with last year, according to new research from Uswitch. People who live alone are most likely to take drastic action, with one in ten solitary dwellers (10%) avoiding using the heating altogether. While households…
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The scale of Britain’s living standards slowdown over the past 20 years is so large that a typical family today would be £20,000 richer had incomes continued at the rate of growth trending in 2005 according to the Resolution Foundation. Policies that the Resolution Foundation has designed and championed have put more money in people’s…
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Headline CPI inflation held steady at 3.8 per cent in August, ending a run of disappointing increases, as a downward contribution from air fares was offset by increases in hospitality and petrol. There were encouraging signs for policy makers under the bonnet as the closely watched core inflation fell from 3.8 per cent in July…
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New research from Citizens Advice finds more than two in five private renters (41%, equivalent to 4.5 million people) in England and Wales had to ration gas and electricity to afford their energy bills last winter. The data also shows that a third (32%, equivalent to 3.5 million) struggled to heat their home to a…
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Over half (54%) of pensioners on a low income find it a struggle to keep up with bills and credit commitments, causing misery and worry to hundreds of thousands of retirees. The findings are revealed in new research by the Living Wage Foundation based on polling of pensioners who are on a low income. The…
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The number of customers falling behind on their electricity bills with no repayment plan in place has more than tripled from 300,000 in 2012 to over one million at the end of 2024, with the number of customers falling behind on their gas bill also tripling from 300,000 to 900,000 over this period according to…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 15% in July 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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Working parents’ confidence in the future UK economy and their future and current household finances has plummeted ahead of the start of the new school year according to Which?’s latest consumer insight tracker. In the month to 13th August, working age parents’ confidence in the future UK economy fell dramatically by 25 points from a…
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New research from Unbiased has revealed that while consumers see a role for artificial intelligence (AI) in finance, a majority prefer human advisers. The survey of 800 UK adults actively seeking financial advice found that a combined 74% are open to an adviser-led model, compared with just 6% who would choose an AI platform alone. The…
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Latest Bank of England data have shown that net borrowing of consumer credit by individuals rose slightly to £1.6 billion, from £1.5 billion in the previous month. Within this, net borrowing through credit cards slightly increased to £0.8 billion in July, from £0.7 billion in June. Net borrowing through other forms of consumer credit increased…
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Three in four people (75%) say that summer holidays are increasingly becoming a luxury that only some can afford, according to research by Compare the Market with over half (56%) of those intending to take a summer holiday this year concerned about the financial cost. More than one in four (28%) also admitted they felt…
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Latest Office of National Statistics (ONS) data has shown that household cost inflation was 3.9% in the year to June – up from 2.7% in the year to March. Lower earners were hit harder than higher earners – those in the second decile saw inflation of 4.1% and those in the ninth saw 3.8%, it…
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New research from HSBC has revealed that while consumers are actively cutting back on subscription services, many are still losing money to ‘invisible spending’ – particularly through automatic payments they forget to cancel. The survey of 2,000 UK adults, released as part of HSBC Invisible Spending campaign, found that people are saving an average of…
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