Credit, Collections & Insolvency News
Desperate families are finding themselves forced to borrow from illegal loan sharks as a consequence of getting into severe debt due to the high costs of paying for the funerals of loved ones, according to research by Funeralexperts.com. The data revealed that around 32,400 people (3%) of the 1.08 million people who were forced to…
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New research by Moneybox has found that half (50%) of respondents said rising costs of everyday expenses (e.g. bills, food, transport) were triggering feelings of anxiety or stress when it comes to their money. A further third (34%) said unexpected expenses or emergencies (e.g. car/home repairs, family emergencies) and a fifth (22%) mentioned a general…
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Dubbed ‘divorce month’, January has famously been cited as the time of the year when family lawyers see a surge in those looking to end their marriages. According to current data from Google, searches for ‘divorce’ in the week beginning 11th January are at their highest in 12 months in the UK. Family lawyers also…
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Latest data from the Insolvency Service for England & Wales has shown that personal insolvencies increased by 7% in 2025 when compared to 2024, rising to 126,240 from 117,958 in 2042 The annual number of IVAs in 2025 was 7% higher than in 2024, but remained lower than the record high annual numbers between 2019…
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Research from Thinkmoney shows that while the festive season may feel like a distant memory, the financial consequences are only just beginning for a significant number of people. Credit card statements, Buy Now Pay Later reminders, overdraft balances and household bills are all landing at once, creating pressure at the start of the year. The…
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Age UK has warned that there is no room for complacency when it comes to reducing poverty among our growing older population and calls on the Government to do more to address it. Around one in six, equivalent to 1.9 million, pensioners already live in poverty and the Charity is worried that unless something changes,…
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Over half (55%) of people are in debt following Christmas expenses having spent £635 (on average) across the festive break according to latest research by Confused.com. The date showed that nearly three in ten (29%) think it will take them over a month to financially recover from Christmas 2025. On average, people take a month…
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Latest data from Hargreaves Lansdown has found that households with unsecured debts (like credit cards and loans) spend an average of £259 a month on them. Bank of England showed that the annual growth rate for all consumer credit was 8.1% and for credit cards it was 12.1% – the highest since January 2024. In…
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More than six in ten (62%) parents believe a traditional Christmas is under threat due to the cost of living, with four in ten (40%) having to prioritise essential bills over festive spending, new research from Nationwide reveals. The poll of over 1,000 parents, done in partnership with charity Action for Children, also reveals that 42…
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Around one in three consumers (30%) in the UK are planning to spend more this Christmas compared with last year, according to new Deloitte research. This is higher than the rest of Europe, where less than a quarter (23%) plan to spend more. In the UK, younger consumers aged 18-34 are nearly twice as likely…
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A new report from Standard Life has identified a marked rise in financial insecurity among people in their early 60s as the State Pension age has increased over the past 15 years. The report’s analysis highlights that there are 250,000 more people aged 60-64 in relative income poverty than in 2010 when the State Pension…
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QDR Solicitors, a dual-regulated legal and debt recovery firm, has announced a strategic partnership with Nutun, a South African customer experience and collections outsourcing specialist. The investment provides QDR Solicitors with access to Nutun’s extensive resources and operational scalability. The agreement enables QDR Solicitors to expand its footprint in financial services and other regulated sectors,…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 22% in October 2025. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said “The…
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