Credit, Collections & Insolvency News
New Skipton Building Society research has revealed that 42% of over 65s are worried about this coming winter, with the cost of heating and energy bills topping their list of concerns (86 per cent), followed by the overall cost of living (76 per cent) and homes not being warm enough (58 per cent). To shine…
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A new report from the Credit Services Association (CSA), the UK trade association for debt collection and purchase, is calling on the Government and Information Commissioner to turn the tables on online ‘influencers’ who give inaccurate advice to unsuspecting consumers, including those already facing significant problem debt. The new report has found that one of…
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Latest data from UK Finance has shown that home repossessions rose sharply in Quarter 3 (Q3) 2025, but mortgage arrears fell. The analaysis showed that there were 1,390 homeowner repossessions, up 51% annually, and 900 buy-to-let repossessions, with this up 29%. Despite this, levels remain close to pre-pandemic norms and well below long-term averages, with…
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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 September 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…
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The Treasury has unveiled its Financial Inclusion strategy which will aim to bring a focus on building financial resilience for households most at risk of problem debt. The Financial Inclusion Committee’s mission is to tackle barriers to individuals and households’ ability to access affordable and appropriate financial products and services. The Treasury said its new…
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New data from the Vanquis Financial Wellbeing Index has shown that these people lack the confidence to have children or grow their families, with many taking on second jobs and cutting back on non-essentials to cope financially. The report shows that only 14% of householders earning under £40,000 feel confident in their ability to afford…
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Most people wait until their money worries reach tipping point before asking for help, according to new research by Lowell, finding that nine in ten people delay seeking help until their financial situation becomes critical. The study, conducted by Lowell to mark Talk Money Week, found that only one in ten people seek help at…
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New research commissioned by debt charity StepChange and Equifax has uncovered the profound and often hidden financial challenges faced by neurodivergent individuals. The research, which combined an online survey with in-depth interviews of neurodivergent individuals experiencing debt, found that almost all survey respondents (97%) felt that being neurodivergent presented challenges when it came to managing…
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Lloyds Banking Group research has shown that more than 28 million (56% of UK population) adults are now turning to Artificial Intelligence (AI) to help manage their money. ChatGPT is referenced as the most popular platform, used by six out of ten. With more than half of people who use AI employing it for budgeting,…
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Latest data from Pepper Advantage, has found the arrears rate dropped 0.3% in Quarter 3 (Q3) 2025, following a significant 4.4% decline in Q2 2025. The data highlights a rebound in new mortgage originations, which surged by 20.2% compared to the previous quarter. Mortgages saw a 0.2% drop in the arrears rate, although this is a…
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Four million people in England and Wales are trapped in a negative budget, meaning they simply don’t have enough money coming in to pay for essentials like food, energy or housing, Citizens Advice is warning. The charity’s latest research shows on top of those in the red, hundreds of thousands more have cut their spending…
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New research from Compare the Market has revealed that almost three-quarters of people with multiple forms of debt (72%) say they find it difficult to stay on top of their repayments. On average, people in the UK with multiple debts owe £7,296 in total and have been paying them off simultaneously for nearly three and…
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Latest data from Shawbrook has found that people are £224 worse off each month compared to last year, as they continue to suffer the consequences of the cost of living crisis. Nearly 40 per cent of people confirmed they were worse off compared to last year, with women being affected in particular, with 43 per…
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