Credit, Collections & Insolvency News
The Money Charity has appointed Erik Porter as Head of Adult & Industry Programmes. In this role, Porter will have responsibility for adult financial capability programmes and industry consultancy services. Porter has 20 years experience in retail banking within Collections & Recoveries, Credit Operations, and Risk & Control including time spent at Citi and Barlcays/Barclaycard.…
Read moreRising debt levels and the continued struggle to meet essential household bills are among the key findings from the latest statistical research released today by StepChange Debt Charity. The Statistics Mid-Year Book which examines the latest trends from the charity’s client data, highlights how increasing numbers of the under-40s, lone parents and people in rented…
Read moreHere is an overview of The Money Charity’s latest statistics for September 2017: Personal debt in the UK People in the UK owed £1.548 trillion at the end of July 2017. This is up from £1.489 trillion at the end of July 2016 – an extra £1033.06 per UK adult. Per adult in the UK…
Read moreThe Money Advice Service has announced its 2017 over-indebtedness figures for the UK. This year’s report by the Money Advice Service and CACI reveals that 8.3 million (15.9%) people in the UK are living with a debt problem – the figures show a moderate increase from figures released in 2016 (15.4%). The statistics from the…
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A new report from the Department for Work and Pensions (DWP) says that a five-week wait for Universal Credit has been a major factor in pushing claimants into rent arrears. The report shows that people on the new benefit are falling into rent arrears, with over 2 in 5 saying this was due to problems with…
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The Money Advice Service (MAS) has announced the date of this year’s Financial Capability Week 2017. The Week will take place on 13th – 19th November and aims to celebrate, showcase and amplify the work underway to improve financial capability and wellbeing through a series of events on why it matters and how to improve…
Read moreNew figures released by the Department for Work and Pensions (DWP) show over half of families on Universal Credit receive help with their housing costs, Citizens Advice says that problems with the new benefit – such as the long wait for payment – mean thousands could be at risk of falling behind on their rent.…
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The use of direct deductions from people’s benefits, by utility companies, housing providers, councils and others, to cover arrears payments is making it more difficult for families to pay for essentials and is forcing many to use credit to keep on top of bills. This is according to new research released today by StepChange Debt…
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Statutory debt relief and debt management products overseen by Accountant in Bankruptcy (AiB) have returned £80 million to creditors in the past year, according to the Annual Report and Accounts published by the Agency today (13 September 2017). A record 1,603 debt payment programmes under the Scottish Government’s pioneering Debt Arrangement Scheme were also completed in…
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The Money Advice Service (MAS has launched a free new resource ‘How to use behavioural science to increase the uptake of debt advice’. The guide has been designed to assist debt advisers across the UK, to encourage over-indebted people to engage with their services. Money Advice Service worked with Ogilvy Change, a specialist behavioural interventions…
Read moreThe number of low-income households in England and Wales receiving financial help from their water company has almost doubled to more than 400,000 in the past year, according to the Consumer Council for Water (CCWater). The water watchdog has welcomed the rise in support for cash-strapped customers but warned that it remains a drop in…
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250,000 private renting families in England are becoming burdened with serious debt because they have to move house so frequently, according to Shelter. New research from the housing charity says private renting is so unstable, short and expensive that families are being forced to move too frequently. One in four (255,944) renting families are taking…
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Citizens Advice is warning that the expansion of Universal Credit is ‘a disaster waiting to happen’, as as new findings show it is pushing people further into debt. The charity says that the government’s plans to accelerate roll-out of the benefit from five to 50 areas a month from October could have catastrophic consequences, as…
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