Credit, Collections & Insolvency News
Single adults on low incomes could spend more than half their income on bills if the energy price cap rises in April, according to a report by the Joseph Rowntree Foundation (JRF). The analysis found that households on low incomes will be spending on average 18% of their income after housing costs on energy bills…
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Marston Holdings has announced its acquisition of Vortex IoT, a supplier of environmental sensors, networks and data solutions that support improved air quality and decarbonisation initiatives. Marston supports government, utilities and private sector clients through the delivery of market leading integrated technology-enabled solutions from design through to implementation, management and recovery. Marston’s clients include local…
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The number of County Court Judgments (CCJs) issued against consumers in England and Wales in 2021 rose by more than one third compared to 2020, according to figures released by Registry Trust. CCJs are issued to consumers in England & Wales who have not repaid a monetary debt and the creditor has taken court action.…
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The number of households suffering from ‘fuel stress’ spending at least 10 per cent of their family budgets on energy bills is set to treble overnight to 6.3 million households when the new energy price cap comes into effect on 1st April according to new research by the Resolution Foundation. The research shows that the…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 36% in November 2021. 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 anticipated £700 increase to the default tariff cap is set to put energy bills as a proportion of benefit levels at a generational high and tip many more into hardship, new research by Citizens Advice has revealed. Citizens Advice is calling on the government to provide a one-off grant this April to support families…
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Charity, Age UK is demanding immediate government action to prevent millions more from falling into fuel poverty. The Charity has written to the Secretaries of State for Business, Energy and Industrial Strategy (Rt Hon Kwasi Kwarteng MP) and for Work and Pensions (Rt Hon Thérèse Coffey MP), published in full below, calling for immediate action…
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More than a quarter (27%) of consumers think they could be losing money due to lack of, or insufficient, understanding of financial terminology, according to recent research from Aviva. The insurer also found that women (30%) are more likely to think financial lingo could be losing them money than men (23%). To understand the saving…
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Recoveries specialist The Zinc Group has announced a solid end to 2021 with the completion of two successful bids in the banking and finance sectors. The company says that the two new contracts follow a successful year that saw several new initiatives across the business in 2021. This included the launch of “Safe-Harbour” Zinc’s vulnerable…
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Benefits will need to be hiked by twice as much as planned this spring in order to protect millions of the poorest in society from the impact of surging inflation according to new analysis by the Insititute of Fiscal Studies (IFS). The analysis shows poorer households tend to spend almost three times as much of…
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New research by Moneyfarm and Dectech has revealed that 25% of the nation are financially dependent on a partner. A further 17% are reliant on their parents with a further 10% reliant on other relatives. Whilst 8% of UK adults are dependent on their children, most surprisingly, 22% of 18 to 30-year-olds are actually financially…
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Arrow Global has announced that it has acquired a significant minority stake in Maslow Capita, a provider of UK real estate development finance. Arrow says that the acquisition will help the existing Maslow management team, led by Chairman Marc Rose and CEO Ellis Sher, accelerate their ambitions to capitalise on opportunities in real estate development…
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New research from Quilter has found that if another lockdown is implemented as a result of the Omicron variant, many women consider themselves in a worse off position financially. The research, carried out by YouGov for Quilter, found that more than one in five (22%) women said they were in a worse position financially than…
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