Credit, Collections & Insolvency News
The Building Societies Association (BSA) has launched a new report shining a spotlight on the work of individual building societies and credit unions in providing financial education within schools and their wider communities. Based on feedback from members, it includes a number of case studies about members outreach programmes and calls for improvement in the following…
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More than 300,000 people in the UK are now registered with GAMSTOP, the free, independent national self-exclusion scheme for online gambling, with a monthly average of more than 7,000 new sign ups this year. GAMSTOP has released its data for the first six months of 2022 against the backdrop of the Government’s delayed White Paper…
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The UK’s three largest debt charities have called on the energy regulator Ofgem to urgently increase protections for people with energy arrears, as rising costs continue to impact households. Citizens Advice, the Money Advice Trust and StepChange Debt Charity are warning that with a further substantial rise in the energy price cap coming in October,…
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Research by the Institute for Fiscal Studies (IFS) has indicated that Long Covid is costing UK workers a total of £1.5 billion a month in lost earnings, adding up to £1.5 billion in aggregate across the economy. The research says that as the UK exits the most acute phase of the Covid-19 pandemic, attention has…
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The Government should immediately update its package of support to help households with soaring energy bills before the cost-of-living crisis grips even harder following October’s energy price cap increase, according to a new report by the Business, Energy and Industrial Strategy Committee (BEIS). The report comes as people are feeling the squeeze of 40-year high…
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Consumer spending and the number of transactions made by households fell in June, according to Nationwide Building Society’s Spending Report. The latest data is the first real indication of how the cost-of-living crisis is pushing households to cut back on costs while they can. The latest spending data comes as Nationwide prepares to launch support…
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1.7 million single parent families, representing 57% of all single parent households with children at home, struggled to pay their bills in recent weeks, reflecting the worsening conditions for millions of families across the UK, according to comparethemarket.com’s Household Financial Confidence Tracker. The research found that four in ten (43%) two parent households with children also found…
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Male victims of financial abuse in Scotland will finally be able to take back some control over their finances without placing themselves at further risk of abuse from partners with the help of a new partnership between the Vulnerability Registration Service (VRS) and Abused Men in Scotland (AMIS), Scotland’s charity helpline for male domestic abuse. Abused…
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As the cost of living squeeze continues to be a growing concern, research from Canada Life has revealed the impact this will have on family members’ ability to financially support their relatives, both now and in the future. Among those who already financially support their relatives, or could do so, nearly half (48%) say the next…
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8.2 million households, one in three in the UK, are expected to be in fuel poverty following October’s price cap increase, National Energy Action has warned. Today fuel poverty charity National Energy Action (NEA) releases worrying new figures amid the cost-of-living crisis. Energy experts Cornwall Insight has predicted that when the price cap rises in…
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Clients taking advantage of Breathing Space in its first year have experienced markedly improved outcomes compared to those who did not, according to a new survey of by debt charity StepChange. The charity found that clients who took Breathing Space were over three times more likely to go through full debt advice and enter into…
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Two in five adults over the age of 50 are so stressed about money that they can’t sleep at night, according to new research by SunLife. The research revealed that over a third (37%) of people aged 50 and above revealed they feel sleep deprived. Money worries are the number one cause of sleep loss…
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A new survey from Hodge has found that 76% of people in the UK are poised to stop dining out and a further 59% to stop socialising to help manage the rising cost of living. Hodge’s “Cost of Living” whitepaper features the findings from research which questioned 1,000 people on how they are managing their…
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