Credit, collections & insolvency news
New analysis from Age UK has indicated that one-in-five (21 per cent) older households are living in poverty or just above the poverty line and/ or are in receipt of income-related benefits. The Charity is warning that these older households, which include some of the poorest and most vulnerable older people in England, will miss…
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Catherine Brown, the former Chief Executive of the Food Standards Agency and current Chair of environmental charity Hubbub, has been announced as the first Chair of the Enforcement Conduct Board. The Board is a new independent oversight body for the civil enforcement sector and will act to drive up standards, improve the effectiveness of enforcement…
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Fraud prevention service, Cifas is urging consumers to report fraud committed against the public purse as new research reveals one in ten people know someone dishonestly claiming a discount on their Council Tax Bill. Current rules mean any household with only one adult living at the address can claim a 25% discount on their Council…
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The Government is urging households across England to set up direct debits with their local council to receive a £150 council tax rebate that will help millions of families manage costs of living. People who pay council tax by direct debit, which is a safe, simple and quick way to pay will see the cash…
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The Online Collections Technology Think Tank 3.1 has confirmed its agenda and speaker line-up ahead of the event for Thursday (3rd February). The event takes place on a big day for cost of living announcements with Ofgem set to announce changes to its price cap limit and with the Bank of England potentially announcing an…
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New research by Which? has found that around 2.5 million households missed payments in January. According to the latest findings from Which?’s consumer insight tracker, an estimated 2.5 million households missed or defaulted on at least one mortgage, rent, loan, credit card or bill in January 2022. This marks a significant increase on December 2021,…
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Benefits will need to be hiked by twice as much as planned this spring in order to protect millions of the poorest in society from the impact of surging inflation according to new analysis by the Insititute of Fiscal Studies (IFS). The analysis shows poorer households tend to spend almost three times as much of…
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Here is an overview of The Money Charity’s latest statistics for November 2021 Personal debt in the UK People in the UK owed £1,749.2 billion at the end of September 2021. The average total debt per household, including mortgages, was £62,938 and per adult was £33,072, around 108.6% of average earnings. Net mortgage lending rose by…
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Here is an overview of The Money Charity’s latest statistics for October 2021 Personal debt in the UK People in the UK owed £1,745.7 billion at the end of August 2021. The average total debt per household, including mortgages, was £62,813 and per adult was £33,006, around 108.9% of average earnings. Net mortgage lending rose by…
Read moreA new report by Aryza has found an increase in the numberstruggling to manage their personal finances. Drawing on a dataset of nearly 300,000 insolvent UK consumers currently struggling with their personal finances, the company’s latest debt statistics report found the average debt level across the UK to be £17,823. This is compared to £15,924…
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Credit Connect has confirmed the line-up for next week’s Credit & Collections Technology Awards which takes place at the Midland Hotel in Manchester next Thursday (4th November). The awards are judged by a panel of industry experts who have reviewed technological excellence in four different categories sections: creditor and lender, collections and recoveries, applied technology, and…
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Council tax in England could rise by as much as £220 per year within three years, researchers have according to new research by the Nuffield Foundation in partnership with Citi. Under current government spending plans, council tax increases of 3.6% per year will be needed for the next three years just to ensure councils can…
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A new Credit & Technology Think Tank has been launched by Credit Connect Media. The event will examine credit and collections technology strategies to increase effectiveness and efficiency as we emerge from the worst impact of the pandemic. The inaugural Credit & Collections Technology Think Tank powered by Credit Connect will take place on Thursday…
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