Credit, Collections & Insolvency News
A third of Brits believe their partner is lying to them about how much money they spend. According to a survey conducted by Paymentsense on 2000 people in a relationship in the UK, people aren’t always honest to their partners about their spending habits. 40% of women admit to lying to their partner about what they…
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Four million more people are living below an adequate standard of living and are just about managing at best, according to new research by the Joseph Rowntree Foundation (JRF). The report sheds light on how different kinds of household are faring, against the Minimum Income Standard (MIS). MIS is a benchmark of income adequacy, as defined…
Read moreSome doorstep lenders are taking advantage of their position and putting people at risk of serious debt problems, Citizens Advice warns. A new report published by the charity today has identified a number of concerning practices by some doorstep lenders. The evidence, submitted to the Financial Conduct Authority today as part of its review into…
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Creditfix’s latest UK Personal Debt Index (PDI) has been released and has found that throughout Quarter 4 2016, the percentage of people who own their own home fell to 8.5% of respondents, compared to the previous quarter when it stood at 10.5%. The quarterly report is put together following a survey of over 31,000 individuals, comparing…
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British Gas is keeping its current gas and electricity prices on hold until August. The company said it was able to hold tariffs in the face of higher wholesale prices by cutting its costs. However, Scottish Power has said it is raising its dual fuel prices by an average of 7.8% from 31 March. It…
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The Money Advice Service has launched an Online Money Manager service. The new service is an interactive tool that offers personalised advice, on making the most of money for Universal Credit claimants. It offers help and advice on a range of money topics, including opening a bank account, keeping on top of bills and dealing…
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Ofgem has announced the levels of the prepayment price cap which come into effect this April. The temporary price cap is one of the Competition and Market Authority’s (CMA) remedies resulting from its two year investigation of the energy market. The cap will initially apply to over four million households who prepay for their energy, mostly with…
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New research from Provident Personal Credit has revealed that almost half (47%) of the UK consider themselves to be ‘just about managing’ (JAMS) financially. The survey of 2,000 adults revealed that 14% had to give up necessities like food and daily travel costs to pay for unexpected expenses, with a further 11% of respondents saying they had…
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Millions of people in the UK who rent their homes from private landlords are putting themselves and their families at risk of eviction and financial hardship due to lack of a financial back-up plan, according to research from Scottish Widows. Despite almost a third (30%) of private renters admitting that they’d not be financially secure…
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The financial stresses and pressures of self-employment are taking their toll on family life, according to the latest report from Scottish Widows’ think tank, the Centre for the Modern Family. Findings of ‘Self-employment and the Family’ show that one in five relatives of a self-employed worker (20%) report increased stress levels in their household due…
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14.5 million British adults (29%) say they had no spare money to put aside as rainy day savings in any of the previous 12 months, according to new research from StepChange Debt Charity. The research also highlights how the difficulties people face in saving are acutely felt by those on low incomes and how short…
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People in some of the most deprived areas of Glasgow and Dundee are being offered a new service where an appointment with their doctor could also see them referred to money and debt advisors within the same health-centre. Shelter Scotland has received £239,692 funding to pilot its ‘Healthy Finances’ project from the UK-wide Money Advice Service…
Read moreThe latest Individual Personal Insolvency statistics from The Insolvency Service have been released indicating a 13% rise in individual insolvencies in 2016. The figures also show that in the last quarter of 2016 Individual insolvencies decreased compared with the previous quarter but were higher than in Q3 2015, driven by individual voluntary arrangements and debtor…
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