Credit, Collections & Insolvency News
More than 120 organisations, including Energy UK and Age UK, are urging the Government to remove policy levies embedded in energy bills. The organisations have signed a letter to the government warning that high electricity costs risk driving business closures and job losses, and exacerbating cost of living challenges, unless the government acts in the…
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The Money and Pensions Service (MaPS) has launched a new debt recovery toolkit, calling on creditors, debt advice agencies and other organisations involved in debt recovery to strengthen their approach to collaboration and help improve outcomes for people in debt. MaPS’ new Supportive debt recovery toolkit replaces ‘Working collaboratively with debt advice agencies: a strategic…
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Water, energy and broadband regulators should do more to fulfil their critical role in supporting consumers struggling to afford their bills. In a new report, following an inquiry informed by evidence from expert witnesses Martin Lewis, Citizens Advice and the Consumer Council for Water, the PAC lacks confidence that water regulator Ofwat, energy regulator Ofgem…
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Food and non-alcoholic drink inflation is expected to reach nearly 4% (3.9%) by December 2026, according to the latest Food Inflation Forecast from The Food and Drink Federation (FDF). Consumers are expected to feel the hit of the conflict in Iran and climate-related events – including El Niño and this summer’s droughts across the UK and Europe…
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More than six million people who expect to pay housing costs in retirement don’t know how they’ll afford them, according to the latest research from Royal London. The research found that around one in three UK adults (34%), equivalent to 18.7 million people, either expect to pay housing costs in retirement or are already doing so. Four in ten (39%) of the approximately 16…
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Money Wellness, four MPs and twelve organisations are leading a call to make the public insolvency register private. Someone fleeing an abusive partner who needs help with their debts can have their name, date of birth and home address published on the Government’s Individual Insolvency Register. The register is publicly accessible for anyone to search.…
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The Department for Environment, Food & Rural Affairs (Defra) must work more closely with households, communities and industry to ensure the food supply chain can withstand increasingly likely and severe shocks, including extreme weather events, cyber-attacks and disease outbreaks, according to a new National Audit Office (NAO) report. The Government has designated food as one…
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Newly commissioned research from TopCashback has revealed that more than a quarter (27%) of adults view September as a bigger money reset than January. In fact, a third (32%) of UK adults believe September is the perfect time to get their finances back on track. However, despite the desire to reset, the findings reveal a…
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New research from Aqua has revealed that almost two in five people (38.8%) typically run out of money before their next payday, while more than a quarter have money left over 28.2% of people have some money left over before their next payday, while 22.8% say their money usually lasts until payday. However, 38.8% find themselves…
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New research from PwC highlights the disparity in household spending power across the UK, with some neighbouring towns and local authorities having significant gaps in disposable income. The research shows the scale of the North-South divide in household spending power, with every northern region of England falling below the UK average while households in London…
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Parents and guardians face a request to spend money on their child’s school life more than once a fortnight, costing them nearly £500 a year, according to research from savings app Spring. The study found that families receive an average of 21 requests for school-related spending or contributions during each 38 week academic year. These…
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Households will have suffered a £2,400 financial hit, on average, from the Iran war by the end of 2027 according to new analysis by the Centre for Economics and Business Research (CEBR) calculating that there has been jump in inflation since the conflict began, and weaker wage growth, will knock £1,100 off the real income…
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The Government has announced it will be introducing secondary legislation which will place all bailiff firms under the purview of the Enforcement Conduct Board (ECB), the existing voluntary regulator for the sector. The ECB was formed in 2022 to provide oversight for the enforcement sector, after years of campaigning from advice organisations. Individual bailiff firms…
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