Credit, Collections & Insolvency News
More than half (52%) of adults aged 25-55 have experienced a major life event, such as redundancy, serious illness, bereavement, or relationship breakdown, in the last three years, according to new research commissioned by the Money Advice Trust, the charity that runs National Debtline. These events often have significant financial consequences, with one in five…
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Fewer than one in ten (9%) adults with living parents have discussed how finances should be managed if they developed a condition such as dementia. This is despite more than half (53%) saying they would feel comfortable having the conversation, according to new research from Nationwide. A lack of preparedness means that nearly a quarter…
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Latest Bank of England data (Quarter 3 2026) has shown that credit card defaults increased in the three months to August, with banks and building societies expecting further rises by November, highlighting growing risks in unsecured lending. Within the overall figure, demand for credit card lending was unchanged. Mortgage defaults fell slightly and are expected…
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The past five years of a near-continuous cost of living crisis have caused the real incomes of typical working-age households to fall rather than grow, leaving them £2,900 (7.9 per cent) worse off this year compared to a world of normal inflation, according to new analysis published by the Resolution Foundation. The report Counting the…
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Half of young adults in the UK say a lack of financial education directly contributed to their housing struggles, according to new research published today by financial education charity Money Ready and funded by the Berkeley Foundation. Launched ahead of World Homeless Day, the findings highlight that millions of young people are entering the housing…
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Households experiencing financial difficulties are struggling to build the financial resilience needed to cope with unexpected costs, leaving many vulnerable to being unable to pay for expenses such as car repairs, broken appliances and emergency dental treatment. This is a key finding from research by StepChange Debt Charity supported by PRA Group. Among the 1,600…
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Intrum’s annual European Consumer Payment Report has shown that consumers can meet their immediate needs, but their reliance on borrowing has increased dramatically, suggesting that pressure is growing beneath the surface. The data showed that late payment levels have remained static; 72% of consumers have borrowed money or used credit to pay bills in the past…
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Consumer credit borrowing grew to £2.5 billion in August, up from £2.1 billion in July and above the previous 6-month average of £1.9 billion. Within this, credit card borrowing was £1.2 billion in August (up from £0.9 billion in July) and borrowing through other forms of consumer credit (such as car dealership finance and personal…
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The Credit Services Association (CSA), the trade body representing the UK debt purchasing and debt collection industry, has published new guidance to address widespread and harmful misinformation about Deeds of Assignment (DOA) and Data Subject Access Requests (DSARs). The guidance follows discussions with the Information Commissioner’s Office (ICO). The new guidance is available on the…
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Millions of households that appear financially secure today could be vulnerable to future financial shocks, according research by Yorkshire Building Society in collaboration with the University of Bradford, which provides a practical framework for understanding financial vulnerability and resilience. Drawing on data from 10,000 UK adults and advanced predictive modelling, the report finds that many households…
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New research from Trust Payments has found that missed payments in the consumer credit and collections sector are not solely a question of customer willingness, with industry professionals also pointing to administrative errors, limited payment options and communication failures as contributing factors. The findings come as millions of UK consumers continue to experience difficulty meeting…
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A new survey by credit card brand Aqua has revealed that almost two in five people (38.8%) typically run out of money before their next payday. Almost a quarter of people (23%) worry every day about having enough money till payday, highlighting the financial pressures many households may face when trying to make their income…
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Latest monthly figures from the Insolvency Service for England & Wales showed that personal insolvencies decreased by 2% in August 2026 compared to the previous month, with 11,644 individuals entering insolvency in England and Wales. This was similar to July 2026 and 3% higher than in August 2025. The personal insolvencies consisted of 725 bankruptcies,…
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