Credit, Collections & Insolvency News
PayPlan and mental health charity SANE have come together to urge those in debt to give themselves the best gift they can by taking control of their finances in the run up to Christmas. Christmas is an exciting time of year but it can also bring a lot of anxiety and stress to people wanting to…
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More than 12 million* UK adults find themselves too time poor to effectively manage their personal finances, according to comparethemarket.com estimates. A poll of 2,000 adults found that 24 per cent feel that they don’t devote enough time to sorting out their finances. The biggest barrier to devoting more time is being “too busy with…
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Nearly half a million young people are struggling to cope with the cost of running their mobile phone, according to new research from National Debtline, run by the Money Advice Trust. Newly-published findings from the charity’s Borrowed Years research, based on a survey of 2,042 18 to 24 year olds conducted online by YouGov, reveal…
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Rent to own services, logbook loans and guarantor loans should be included in the FCA’s payday loan cap – and new rules introduced to provide added protections for customers including full checks to make sure people can afford to pay back what they have borrowed says Citizens Advice. The Financial Conduct Authority has today launched…
Read moreThe majority (64%) of UK adults are budgeting to spend an extra £96.22 per week on food during the Christmas and New Year period, reveals new insight from short-term loan provider Sunny. The insight into this year’s festive food shopping habits reveals that those UK shoppers planning to splash out more this Christmas, believe they…
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For nearly three in ten (28%) women in the UK, the inability to support themselves or their families financially is their greatest financial fear. A new report from Aegon ‘Protection matters: does women’s financial planning match their priorities?’, which draws on the opinions of more than 2,000 women, found that nearly half (46%) believe it’s…
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Citizens Advice has responded to the Chancellor Philip Hammond’s Autumn Statement. Gillian Guy, Chief Executive of Citizens Advice, said “This Autumn Statement tackles some of the problems facing struggling families. It is good that government is willing to take action on failing consumer markets, including energy and letting agents, and tackle issues around pension scams.…
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A new study from Citizens Advice reveals the challenges faced by “just about managing families” and says many of the problems are ‘fixable’. The report is based on new analysis of the problems faced by the 700,000 working people helped by Citizens Advice between October 2015 and September 2016. It identifies the most common challenges…
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Research from a YouGov poll has revealed that almost half (49 per cent) of people in Scotland admit to being in debt with many of these feeling the strain, just weeks before Christmas. The poll, which was commissioned by Scotcash and Scotwest Credit Union, revealed almost 1 in 2 (49 per cent) of adults surveyed…
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Christmas spending is set to hit £19 billion this year, with Brits ignoring the Brexit blues and splashing out an average of £415 each in the run-up to Christmas – 4.5 per cent more than the same time last year according to research by MoneySupermarket. The research predicts that: Brits will splash out £19 billion this year…
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Families with children are more than twice as likely to have been trapped in problem debt as childless households, research by The Children’s Society has revealed. A survey commissioned by the charity found that one in five families with children in England and Wales (20%) have struggled with problem debt in the last year. By…
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The Credit Services Association (CSA) has issued some simple guidance around debt, and particularly how to avoid becoming a case of ‘mistaken identity’ and how to resolve the matter should it occur. · Keep creditors up-to-date with current contact details: If you move, change phone number, email address, or even change your name, inform all…
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Citizens Advice has said that energy firms charging much higher prices for the standard tariff is fundamentally unfair. This follows the Secretary of State for Business and Energy Greg Clark saying that he will look at evidence that it has been claimed shows gas and electricity firms make as much as 24 per cent profit…
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