Credit, Collections & Insolvency News
A quarterly survey of by property website Zoopla reveals that the cost of renting a property is rising at its fastest pace in 13 years with the average UK tenant facing a bill of nearly £1,000 a month. The UK’s average rental growth has reached a 13 year high, up 8.3% in Q4 2021, meaning…
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The All-Party Parliamentary Group (APPG) for Financial Resilience, has found a quarter (24%) of working-age adults (18-64 years old) didn’t save any money during the pandemic sparking major concerns about financial insecurity. The revelations have led to Co-Chairs of the APPG, Shaun Bailey MP and Tonia Antoniazzi MP, to issue a call for evidence to…
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Credit management group Intrum has announced it has signed an agreement to manage the collections and recoveries functions for the Sainsbury’s Bank and Argos Financial Services portfolios. Under the agreement, Intrum will assume responsibility for collections and recoveries on a white label basis for loan, credit card and store card products. The deal means the…
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The TUC has warned that millions of low-income workers face a “perfect storm” this April with universal credit (UC) falling behind the cost of living as energy bills and taxes rise. The warning comes as new TUC analysis reveals that the number of workers on UC has increased by 1.3 million since the eve of…
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Debt purchaser, Lantern has received its third consecutive ‘gold’ award from customer experience experts, Investor in Customers (IIC). The ‘gold’ award means Lantern excelled at all four principle themes – understanding customer needs, meeting customer needs, delighting customers and engendering loyalty. The Lantern team took on board feedback from its first IIC assessment in 2018,…
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The Online Collections Technology Think Tank 3.1 has confirmed its agenda and speaker line-up ahead of the event for Thursday (3rd February). The event takes place on a big day for cost of living announcements with Ofgem set to announce changes to its price cap limit and with the Bank of England potentially announcing an…
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Millions of people with mental health problems say they are missing out on Equality Act protections from banks and other essential services firms according to new a report by Money and Mental Health Policy Institute. The research found that many banks and other essential services providers are likely to be failing to meet legal duties set…
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Here is an overview of The Money Charity’s latest statistics for January 2022 Personal debt in the UK People in the UK owed £1,754.3 billion at the end of November 202 The average total debt per household, including mortgages, was £63,122 and per adult was £33,169, around 108.6% of average earnings Net mortgage lending rose by…
Read moreNew research by Which? has found that around 2.5 million households missed payments in January. According to the latest findings from Which?’s consumer insight tracker, an estimated 2.5 million households missed or defaulted on at least one mortgage, rent, loan, credit card or bill in January 2022. This marks a significant increase on December 2021,…
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New data shows victim-survivors of economic abuse are left with long-lasting harm have an average coerced banking debt of £4,607 and 83% with low financial knowledge and confidence. Charity, Surviving Economic Abuse (SEA) has revealed new data showing that victim-survivors of economic abuse are left without the support they need to escape an abuser and…
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Household bills fell marginally over 2021, with annual costs falling by £37 during the past 12 months, according to new data from comparethemarket.com. This new research which analyses the cost of energy, home, and motor insurance, based on comparethemarket.com’s switching data, shows that household bills were cheaper last year than the two years prior. A typical…
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Almost one in ten private landlords renting to Universal Credit claimants have experienced at least one tenant having difficulties paying their rent due to benefit cuts according to research by National Residential Landlords Association (NRLA). In October last year the Government cut Universal Credit by £20 a week following a temporary increase in response to…
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Official figures show that inflation jumped to 5.4% in December, with this the highest rate since the 7.1% recorded in March 1992. The consumer price index (CPI) measure of inflation was up from 5.1% in November, with soaring food costs and energy price increases helping drive the rate up. The Office for National Statistics (ONS)…
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