Credit, Collections & Insolvency News
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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New research commissioned by TopCashback has revealed that one in seven (14%) people will be celebrating this Halloween, but not dressing up to cut back on costs. The survey highlights that among those skipping costumes this Halloween, 59% say they’re doing so to save money. Other reasons include wanting to save time (20%) and to…
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Financial services firms need to enhance the accessibility and supportiveness of their online content for individuals with financial and mental health concerns, according to a new report from the LSB (Lending Standards Board). The report, based on research commissioned by the LSB from the Money & Mental Health Policy Institute, assesses financial services firms’ websites…
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Latest Bank of England data showed that net borrowing of mortgage debt rose by £1.2 billion to £5.5 billion in September, the highest since March 2025 (£13.2 billion). Net mortgage approvals for house purchase increased by 1,000, to 65,900 in September. By contrast, approvals for remortgaging decreased by 600 over the same period, to 37,200.…
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Ofgem has announced a new plan to tackle the growing crisis of energy debt through a new Debt Relief Scheme (DRS). The regulator has confirmed the first phase of the scheme will write off up to £500 million of historic debt built up during the energy crisis, with total energy debt across the UK now…
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The Government’s landmark Renters’ Rights Bill has received Royal Assent, officially becoming law and paving the way for the most notable reform of the private rented sector in almost four decades. The new Renters’ Rights Act introduces a far-reaching set of changes, which include the abolition of fixed-term tenancies and Section 21 notices. Commenting on…
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More than a quarter of a million families will receive confirmation this week of their £150 discount on energy bills this winter, as part of the Government’s drive to help families tackle energy affordability. The Prime Minister took the decision last year to expand the Warm Home Discount to a further 2.7 million families, meaning six million households now receive…
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Latest data from Barclays has shown that spending on mortgage and rental payments rose by 7.3 per cent year-on-year in September, the highest increase since February. Amid the Bank of England base rate being held at 4 per cent in September, and rising costs, confidence in the housing market has also decreased slightly from 29…
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Consumer confidence has risen by two points in the past month, according to latest figures by GfK. The figures still leave the index in negative territory with consumer confidence at –17, but expectations for the general economy over the next 12 months increased by two points. There was also an increase in consumers purchasing big-ticket…
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Australian technology and debt collection provider Credit Clear has announced it has entered into a binding agreement to purchase debt collection agency (DCA) ARC (Europe) pending FCA approval. Credit Clear says that the acquisition marks a major milestone for the company, expanding its footprint into the UK and European markets, adding immediate scale and unlocking cross-sell opportunities…
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Energy UK is calling for sector regulator Ofgem to lose some of its current responsibilities to create a streamlined and more focused organisation better equipped to carry out its main duties. The Department for Energy Security and Net Zero is currently carrying out a review of Ofgem’s performance and its future role, and in a paper…
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Latest Accountant in Bankruptcy data has shown that personal insolvencies in Scotland decreased by 8% to 1,780 in 2025-26 Quarter 2 (Q1), down from 1,935 in Q1 and a decrease of 113 (6%) compared with 2024-25 Q2. There was a significant reduction in the number of Protected Trust Deeds (PTD) and a small reduction in…
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Money Wellness has announced a new partnership with Capital One to provide customers with the tools and guidance they need to help them manage their finances more effectively and improve their financial well-being. The partnership will allow Capital One’s UK customers who show early signs of financial stress to access free Money Wellness support, including…
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