Credit, Collections & Insolvency News
Gas and electricity prices will rise by 2% for millions of households under the latest cap announced by energy regulator Ofgem. The energy price cap will rise by £35 per year for a typical household from October. While the rise is small, it underscores the fact that energy costs remain stubbornly high. With energy debt…
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Consumers are more confident this month but are vulnerable to worries about rising inflation and potential tax increases, according to GfK’s latest consumer confidence index. The index rose to its highest since December at minus 17, up from minus 19 in July, boosted by a three-point improvement in households’ sentiment around their personal finances and…
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CPI inflation jumped 0.2 percentage points to reach 3.8 per cent in July. Worryingly, the rise was driven by the higher cost of essentials with faster price rises for energy (rising from 4.5 per cent in June to 8 per cent in July), petrol (up by 2p per litre in July) and food (4.5 per…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency figures rose slightly in July when compared to last month and to July 2024. Personal insolvencies increased by 1.8% in July 2025 to a total of 10,515 compared to June 2025’s total of 10,328, and slightly increased by 0.3%…
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Average energy arrears among people seeking debt advice from StepChange Scotland have surged by 42% year on year, leaping from £2,464 in the first half of 2024 to £3,499 in the first half of 2025. This sharp increase raises serious concerns about the ability of households to heat their homes this winter while repaying built…
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Latest Ministry of Justice figures have shown increases in mortgage possession claims from 5,348 to 6,537 (22%), orders from 3,384 to 4,429 (31%), warrants from 2,959 to 3,787 (28%) and repossessions by county court bailiffs from 869 to 1,146 (32%) when compared to the same quarter in 2024. There were increases in mortgage possession claims…
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New data from UK Finance has shown that there were 87,380 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance in the second quarter of 2025, 3 per cent fewer than in the previous quarter.Within the total, there were 29,840 homeowner mortgages in the lightest arrears band (representing between 2.5…
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Nearly nine in ten landlords (87%) have reported making a profit, just one percentage point off a five-year high, according to new research undertaken for Paragon Bank. The research, found that the proportion of landlords who reported making a profit from their lettings activity increased from 84% in the first quarter of 2025 to 87%…
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New research from Scottish Widows has revealed that a quarter (5.7 million) of working-age adults don’t believe they’ll ever be financially independent. This lack of financial independence is especially prevalent among younger people, renters, and individuals with disabilities. And for many, key markers of independence like being debt free or having emergency savings, feel unattainable. The…
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The Civil Enforcement Association (CIVEA), the principal trade body for civil enforcement agencies in England and Wales, has joined forces with the National Support Network (NSN) to help vulnerable individuals access vital services, from debt advice to mental health and housing support. Civil enforcement agents work to collect unpaid payments, like council tax, parking fines…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 16% in June 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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New data from global credit management provider Pepper Advantage has shown that arrears and direct debit rejections (DRRs) have declined, with the overall arrears rate decreasing by 4.4% and the DRR rate falling by 5.1% with Quarter 2 (Q2) 2025 marking the first quarter since the Covid-19 pandemic in which a decline in both areas…
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Summer 2025 is proving even tougher for families, with 81% of parents feeling financially stressed and 52% worse off than last summer, according to new research from credit-building business Loqbox. The data shows households feeling the squeeze, driven by pricier holidays, rising childcare costs, and mounting back-to-school expenses, with 52% feeling worse off than in…
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