Credit, Collections & Insolvency News
Open banking platform, TrueLayer, has announced a collaboration with the problem debt detection and prevention app SuperFi, which will provide open banking variable recurring payments (VRPs) to help customers repay borrowings and avoid fees. SuperFi’s platform connects to users’ bank accounts and credit cards to track borrowings and overdrafts in a single interface. Customers can then…
Read more
More than half of the UK population are either haggling on their regular bills or intend to do so, according to new research from Go.Compare, as the cost of living crisis continues to impact households. After interviewing more than 2,000 UK adults, the comparison site found that a third (33%) of people have already started…
Read more
A third of people over-50s have concerns about being able to put enough food on their tables if the UK slips into the recession new data from Livemore has found. The data also shows more than half of 50-90 year olds fear that they will not be able to heat their homes or pay other…
Read more
New ONS data on debt and wellbeing has found that more than a fifth of adults in the UK (22%, equal to around 11.5 million people) reported borrowing more money or using more credit than the previous year because of the increased cost of living. Nearly a third (31%) said they would be unable to…
Read more
Half of people admit they have checked what their parent’s home is worth with over four in ten admitting they are relying on an inheritance for future financial security according to research by Zoopla. The figures show that more than four in ten (43%) are relying on inheritance from home-owning parents during increasingly challenging economic…
Read more
Ofgem has said that energy firms should start compensating customers whose homes were wrongfully fitted with a PrePayment Meter (PPM), without waiting for the results of a major review The energy regulator has announced the launch of urgent work with stakeholders to look at what further protections may be needed within the rules, regulations and…
Read more
Households with energy prepayment meters in their homes are nearly twice as likely to dip into debt due to the cost of living crisis than others, according to new data. The Office for National Statistics (ONS) found that 26% of adults who pay for their gas or electricity up front, reported using credit because of…
Read more
Latest research by FICO has shown that there was a significant rise in cardholders missing one credit card payment in December 2022. The research showed that accounts missing one payment jumped month-on-month by 19%. The percentage of accounts with two missed payments was 19% higher than in December 2021 and 20% higher for three missed…
Read more
Debt advice specialist, Money Wellness has announced that it is set to appoint more than one hundred new professional advisers to provide additional capacity, enabling it to deliver free debt advice and ongoing support services following its commission earlier this month by the Money & Pensions Service (MaPS). The advisers will be employed on a…
Read more
New research from Citizens Advice has found that millions of people are living in damp and draughty rented homes. The research also shows that 1.6 million children currently live in privately rented homes with damp, mould or excessive cold. The charity’s analysis suggests more than half of private renters in England – 2.7 million households…
Read more
Debt solution company MoneyPlus Group has announced that it has completed the purchase of debt advice management specialist Bright Oak. MoneyPlus Group has received substantial investment over the last 2 years from both Intriva Capital and Oak North Bank and has spent that time fine-tuning internal operations ready for significant scaling. There is no firm…
Read more
Research by Cornwall Insights has predicted that energy bills will rise by an estimated £500 a year despite an expected reduction in Ofgem’s household energy cap. Cornwall Insight predicts the cap for a typical household will be £3,294 equivalent per year meaning that customers will pay about 20% more on their bills, approximately £500, as…
Read more
Second charge mortgage new business volumes fell by 3% in December 2022 according to latest Finance & Leasing Association (FLA) data. 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 “In December, the…
Read more