Credit, collections & insolvency news
UK outsourcing specialist Sigma Connected has announced its expansion into the United States as it secures its first two new clients in the country. The company which offers ‘white label’ customer contact centre and debt collection services across the financial services, telecommunications, energy and retail sectors, has launched Sigma Connected US LLC. Services will be…
Read more
New YouGov polling commissioned by StepChange Debt Charity, which explores people’s finances and borrowing habits, reveals that one in four people will struggle to afford Christmas this year, rising to more than one in three (34%) households with children. The survey also found that. one in twelve (8%), around 4 million people, will be relying…
Read more
A run of 14 consecutive interest rate rises has brought worry and financial pain for mortgage holders according to the research by the Office for Budget Responsibility (OBR), The OBR says that the benefit of better returns on savings has outstripped the hit of higher mortgage rates. Our real household disposable income – put simply,…
Read more
Households with children at home are struggling with their monthly credit card repayments according to Compare the Market’s latest Money Action Index. The research reveals that households with children at home have been finding it difficult to manage their finances in the past six months as most have seen their regular bills increase. More than eight…
Read more
A new report by the Centre for Economics and Business (CEBR) on behalf of Aegon has found that the proportion of both full-time and part-time private sector workers missing work due to financial concerns has risen to 12%, – up from 10% in 2021. On average, employees lost 4.7 workdays per year, leading to over…
Read more
UK Finance has released its latest mortgage arrears and possessions for Quarter 3 (Q3) with figures indicating that residential mortgage arrears have increased by 18% and buy-to-let mortgages in arrears also rising by 29%. The latest data shows that there were 87,930 homeowner mortgages in arrears in Q3 2023, seven per cent more than the…
Read more
New research from Standard Life has found that almost one third of parents (30%) with children under 18 are finding their financial situation difficult, which compares to 22% of people without children. This comes during a second full year of high inflation, with the cost of essentials like food and household bills still outpacing income…
Read more
New research conducted by StepChange Debt Charity has revealed that its clients who are women face an average budget shortfall of £30 per month, which is £70 less than men’s average monthly surplus of £40. The charity’s new report, Bearing the burden, which has been published during Talk Money Week, looks at how debt differs between…
Read more
Everyday People Financial, a Canadian-based financial services company, has announced that its subsidiary, BPO Collections has signed a purchase agreement to acquire Arvato Financial Solutions UK (AFS). Arvato Financial Solutions is a provider of accounts receivable management services primarily focusing on providing financial and collection management services in the regulated environment. Arvato’s main creditors operate…
Read more
New research by StepChange Debt Charity has revealed women are more likely to have energy debt, pay more on household essentials and have been disproportionately impacted by the cost of living crisis. The charity’s new report Bearing the burden, looks at how the gendered picture of debt differs, exploring why women are more vulnerable to…
Read more
Despite best efforts by utility providers, 25% of people report to be receiving more than 10 incorrect utility bills when moving home. This is causing a knock-on effect in the industry as one in five customers would consider leaving their utility provider if they were billed incorrectly, and more than one in 10 people have…
Read more
Almost half of people approaching retirement (49%) are rethinking their plans as the high cost of living bites into their everyday finances. Research carried out by LiveMore among people aged 50-79 found that 26% have been forced to postpone their retirement while 23% are seriously considering delaying it. In addition, 7% have taken on more…
Read more
More than 16 million people have missed payments on key household bills this year and over two million did so for the first time, according to new research for Talk Money Week 2023. A survey of 3,016 UK adults, commissioned by the Money and Pensions Service (MaPS), shows that a third of people (30%) have…
Read more