Credit, Collections & Insolvency News
Online budgeting tool IE Hub has revealed a new partnership with Make Life Better, a UK company that supports people who need financial support by helping them to claim benefits owed to them. Bethanie Kennedy, Partnerships Manager at IE Hub, said “We’re really happy to be working alongside Make Life Better. This partnership will make…
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New research by StepChange Debt Charity reveals around 3% of UK adults, equivalent to 1.6 million people, have experienced coerced debt, a form of economic abuse where the perpetrator coerces a victim into debt, for example by making them take out credit against their wishes. This comes as the charity estimates that around one in…
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The Money and Mental Health Policy Institute, the charity founded and chaired by Martin Lewis (MoneySavingExpert) has been recommended for ‘super-complainant’ status by the Department for Business and Trade — which will grant it special powers to ensure action on specific consumer harms from regulators. Money and Mental Health will be given the power to…
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The Credit Service Association (CSA), the UK trade body for the debt collection and purchase industry, has appointed Desmond Hudson as its new independent Chair. Hudson’s career spans several high-profile positions, including Chief Executive of the Law Society of England & Wales and the Institute of Chartered Accountants of Scotland. His tenure in these roles…
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Research by Aqua has found that almost one in three people get their financial advice from TV programmes. The research also revealed that nearly one-third of people (30%) say that financial mistakes have caused increased stress, and that 41% of people feel negatively about their financial situation. With a challenging financial backdrop in the UK,…
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The Resolution Foundation is calling on the Government to change its child poverty strategy. In a new report, the Foundation has warned that the roll-out of £3 billion of previously announced benefit cuts will contribute to an increase in child poverty rates from a projected 31 per cent at the start of the Parliament (2024-25),…
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A Bristol-based debt recovery company which collected debts for businesses and individuals but failed to forward on all the money has been shut down. Encore Capital Group Inc Ltd, which traded as Encore Debt Recovery, cold-called businesses and individuals offering to recover commercial and consumer debts in return for an up-front fee or a percentage…
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National Energy Action research has found that nearly half of adults (49%) expect to ration energy in coming months as average bills set to rise by over £100. The data follows on from Ofgem’s announcement that the energy cap will rise by 6.4% in April with the average energy bill rising to £1,849 a year…
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Energy regulator Ofgem has announced a 6.4% increase of the energy price cap for the period covering April to June 2025. The energy regulatror says that a recent spike in wholesale prices is the main driver of today’s price rise, accounting for around 78% of the total increase. A small increase in policy costs and…
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IE Hub has announced a new partnership with Welfare Together, an organisation focused on supporting individuals and families struggling with debt. As part of the partnership, IE Hub’s free online budgeting platform will be merged with Welfare Together’s support services, helping individuals take control of their finances with ease. The budgeting tool allows users to…
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Every energy supplier will be required to offer energy tariffs with low or no standing charges so customers can choose to pay these costs as part of the unit rate, under plans published by Ofgem. The regulator has launched a consultation on how proposals to introduce an option under the price cap that will cover…
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Citizens Advice says energy network companies, which provide pipes and cables to people’s homes, have made nearly £4 billion in excess profits over the last four years. During this time, the charity has helped a record nearly 700,000 people in England and Wales struggling to afford their energy bills, and five million currently live in…
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New figures released by the Finance & Leasing Association (FLA) show that econd charge mortgage new business volumes grew by 16% in December 2024. 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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