New report calls for Government to support those hit financially by pandemic
A new report is urging the Government to take the lead in supporting consumers to recover financially from the pandemic. Innovation Foundation Nesta has commissioned Guaranteeing a Rapid Recovery – a report from the Social Market Foundation (SMF) which sets a series of recommendations for government and innovators to support consumers as they recover from the pandemic. The research…
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2021 Credit & Collections Technology Awards shortlist and Think Tank announced
The finalists for the fifth annual Credit & Collections Technology Awards, the UK’s celebration of tech innovators in credit and collections, have been revealed. The Credit & Collections Technology Awards, organised by Credit Connect Media will host the Awards ceremony as a face to face event at the Midland Hotel, Manchester on Thursday 4th November. This year’s…
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Money Statistics: July 2021
Here is an overview of The Money Charity’s latest statistics for July 2021 Personal debt in the UK People in the UK owed £1,721.3 billion at the end of May 2021. The average total debt per household, including mortgages, was £61,933 and per adult was £32,544, around 108.7% of average earnings. Net mortgage lending rose by…
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Regular calls for telecoms firms to help customers struggling with bills
New Ofcom data has found that around two million households are struggling to afford internet access. The research shows that many people on low incomes are struggling to pay, and not all are getting the support they need from telecoms companies and that there is considerable variation in the support available for customers who may be…
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Household spending tumbled 11% in the first quarter of 2021
Household spending fell by 11% in the first quarter of 2021 according to the latest Office for National Statistics (ONS). The ONS Consumer Trends report revealed that household spending tumbled 11% in the first quarter (Q1) of 2021, compared to the same period last year. The report shows that hotels and restaurants were hardest hit:…
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2.5m consumers fall behind on their broadband bills
2.5 million consumers are behind on their broadband bills, with 700,000 of these falling into the red during the pandemic according to new research by Citizens Advice. The new research from the charity has also found some groups are particularly struggling. Young people and those with children under 18 are three times more likely to…
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Credit Connect to host Responsible Communications webinar
Credit Connect Media will host the latest edition of its Connected News digital free live webinar series on Wednesday 14th July. The webinar titled “Delivering responsible vulnerable communications” will be the latest in the series of webinars looking at the latest thematic innovations enhancing collections strategy. Speakers from Lowell and the Lending Standards Board will…
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Money Statistics: May 2021
Here is an overview of The Money Charity’s latest statistics for May 2021 Personal debt in the UK People in the UK owed £1,712.9 billion at the end of March 2021. The average total debt per household, including mortgages, was £61,435 and per adult was £32,326, around 110.3% of average earnings. Net mortgage lending rose by…
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Virgin and O2 merger approval given by the CMA
Virgin Media and O2 have been given the green light for their £31 billion merger to go-ahead by the Competition and Markets Authority (CMA). The deal sees two of the UK’s biggest telecoms giant join forces, affecting around 40 million households. It will also see all 14,000 Virgin Media employees and 6,700 O2 staff in…
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Judges confirmed for 2021 Credit & Collections Technology Awards
The Credit & Collections Technology Awards has confirmed the judging panel for the 2021 event. Launched in 2017, the fifth annual awards seek to recognise excellence in credit and collections technology. The judging panel includes industry association leaders whose expertise includes specialisms from a diversity of different backgrounds, this ranges from consumer and business commercial…
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Unsecured lending displays ‘new nervousness’ in the credit market
EQ Credit Services has released its latest UK research report into the unsecured lending sector which has revealed some startling consumer attitude shifts including a ‘new nervousness’ characterising the current credit market. This appeared most acute amongst the youngest generation (age 18-24), with over half of this group responding that they would only be prepared…
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Lending Technology Think Tank review
Credit Connect’s hosted its first-ever Online Lending Technology Think Tank last week which saw lending strategies and the future of the sector discussed by thirteen leading professionals from a variety of lending sectors. The themes of fraud, open banking, credit risk and the future of lending were discussed by panellists and Chair Chris Warburton from…
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CMA provisionally clears Virgin and O2 merger
The Competition and Markets Authority (CMA )has provisionally cleared the proposed merger of Virgin Media and Virgin Mobile with O2. The CMA said that both Virgin and O2 provide certain wholesale services to other mobile network operators in the UK, as well as retail services to consumers. IT was clear at the outset of its…
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