Credit, Collections & Insolvency News
Aryza, a global provider of end-to-end AI-enabled solutions across the credit and debt lifecycle, has announced that Citizens Advice has agreed to extend its partnership to further deploy Aryza’s digital financial review solution across its debt advice services. Through the partnership, Aryza’s solution will improve the accuracy and completeness of client data, increase overall adviser…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies fell by 10% when compared to March 2026 but were 7% higher than in April 2025. The data showed that 10,920 individuals entered insolvency in April 2026. The insolvencies consisted of 701 bankruptcies, 4,033 debt relief orders (DROs) and…
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Energy bills are forecast to rise by £209 to £1,850 a year for a typical dual fuel household from July, according to Cornwall Insight’s final forecast for the July – September 2026 Default Tariff Cap (price cap), released following the close of the observation window on 18th May. The new cap would represent an increase…
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Over half (57%) of Scots have experienced problem debt, new research suggests, underlining the scale of financial pressure facing households as a new Scottish Parliament gets underway. New Censuswide polling commissioned by StepChange Scotland reveals 57% of adults in Scotland have a lived experience of problem debt, with almost two in five (38%) saying they…
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Research from St James’s Place has shown that average household wealth has fallen 17.5% over the last year, dropping from £126,482 to £104,329. More than a third of people said their financial position has worsened over the last twelve months, while one in five households now say they are struggling financially. The data finds that…
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Latest data from UK Finance has shown that the overall proportion of mortgages in arrears remains low, at 0.91 per cent of homeowner mortgages and 0.47 per cent of BTL mortgages. In the first quarter of 2026, there were 79,110 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance. This…
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Energy regulator Ofgem has announced it closed its investigation into British Gas on its treatment of customers who had a prepayment meter (PPM) installed without their permission, with consumers set to benefit from the settlement agreement made with the regulator. Ofgem’s investigation concluded that British Gas failed to meet the standards required of an energy…
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Concentrix and Flexys have announced a strategic partnership that brings together Flexys’ digital-first debt management and collections software, with Concentrix’ global delivery capability, operational resilience and scale. The partnership will enable Flexys to scale more effectively in response to increasing client demand, with Concentrix providing systems integration, delivery and support expertise. Claire Christie, GVP, Service…
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Water companies are failing to win back customers’ trust amid deepening concerns over the fairness and affordability of water bills, a new report has revealed. Trust in water companies across England and Wales has reached a new low, according to the Consumer Council for Water’s (CCW) annual Water Matters report, which has been tracking household…
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Households reduced spending in April, marking the first annual decline in card spending since late 2024. Barclays reported a 0.1% fall overall, with travel spending dropping 5.7% as consumers became increasingly cautious. Fuel spending rose sharply due to higher oil prices and concerns linked to Middle East tensions. The data showed that consumer card spending…
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Financial guidance shared by ‘finfluencers’ on popular social media platforms is generally low quality, despite being widely used by UK adults, according to new research released by Queen Mary University of London, supported by Aberdeen Group Charitable Trust. The research analysed nearly 2,500 finfluencers on Instagram, TikTok and YouTube, alongside a survey of more than…
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Latest figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 20% in March 2026. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer Finance & Mortgages and Inclusion the Finance & Leasing Association (FLA), said “The…
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New research by MoneySuperMarket shows that raising a child in the UK costs anywhere between £143,412 and £500,982, depending on the childcare and schooling choices families make. By combining the latest Office for National Statistics (ONS) data with a new survey of UK parents, MoneySuperMarket’s analysis shows how underestimated the financial commitment of parenthood really is. Even when families can opt out of pre-school nursery…
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