Credit, Collections & Insolvency News
Latest data from the Bank of England has found that loan defaults have risen to 6.2% in early 2026, the highest since late 2024 (7.8 per cent), when the UK had seen several hikes in interest rates. Unsecured lending defaults hit 18.6% in Q1 this year, the highest figure since the last quarter of 2023.…
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Snap Finance has announced that it has made three senior appointments to its business development team. Dave Fletcher joins as Head of Business Development from HSBC, where he spent almost three years as Head of Retail Merchant Relationships covering UK point-of-sale (POS) credit. He brings more than 20 years’ experience in the consumer finance sector,…
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Credit Connect has announced the shortlist of companies and partnerships for this year’s third annual Credit & Collections Industry Awards. The finalists for this year’s awards consist of 108 entrants (whittled down from nearly 115 entries) from nearly 80 companies within the shortlist. There are over 20 partnership entries in the running to win across…
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Two thirds (64%) of couples claim higher living costs is making money a bigger issue in their relationship according to new research from Hymans Robertson Personal Wealth. Despite this, less than half (46%) say they know how much their partner earns and only 14% of couples say they regularly discuss their finances together, suggesting many…
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New Barclays research shows that a long‑standing reluctance to talk about money continues to affect how confidently adults manage their household finances. While many avoid financial conversations – often reflecting attitudes shaped in childhood – there is growing recognition that being more open can make a real difference. With six in ten adults (59 per…
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Families in the bottom decile of the income distribution will be at the sharp end of the latest development in the cost of living crisis, and changes to energy and fuel prices alone could mean they experience a rate of inflation almost a percentage point higher than households in the top income decile by the…
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Law firm Wilkin Chapman Rollits has strengthened its recoveries and litigation capability with the acquisition of Nottingham-based Legal Recoveries and Collections (LRC). Completed on 1st April, the acquisition comes exactly one year after the merger of Wilkin Chapman LLP and Rollits LLP, and is expected to increase the turnover of the firm’s recoveries department to…
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Ofgem’s latest debt and arrears data shows that total energy debt has risen once again and now stands at a record £4.55 billion for the period to the end of 2025, up 18% year on year. As essential bills like gas and electricity continue to drive the cost of living crisis, StepChange reveals that client…
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Data from Cornwall Insights has found that a typical gas and electricity bill is forecast to reach £1,929 a year from July under Ofgem’s quarterly price cap, up £288 (or 18%) from the current cap. The slight reduction in the forecast follows a partial steadying in wholesale markets after a pause in energy infrastructure strikes…
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Consumer debt recovery fintech, InDebted has announced the appointment of Rob Young as its UK Managing Director. Young will lead InDebted’s UK operations, he brings over two decades of leadership experience across fintech, credit, and technology-led financial services, including senior roles at Wonga and OnDeck, where he led international expansion across the UK, Canada, and…
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London is the only major city in Britain where household financial health is worsening, according to new research by Lowell. While financial pressure is beginning to ease across much of the country, London is not sharing in the recovery. Households in London are using up their savings: London is the only major city where emergency…
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The High Court Enforcement Officers Association (HCEOA) has welcomed the laying before parliament of new Taking Control of Goods (Miscellaneous Amendments) Regulations 2026. The statutory instrument laid before parliament covers updates to the Taking Control of Goods Regulations 2013 and the Taking Control of Goods (Fees) Regulations 2014 as part of Government’s balanced package of…
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A graduate who grew up in deep poverty will earn 5%, over £2,800 a year, more than a more privileged peer working at the same firm with an equivalent degree a decade after graduation, highlighting the scarring effect of childhood poverty, according to new research published by the Resolution Foundation. The long shadow – funded…
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