Credit, Collections & Insolvency News
GfK’s Consumer Confidence Barometer Index has shown a drop of three points to -19 in February. Three measures were down, one was up, and one was flat, compared to last month’s announcement. The drop reflects growing concerns about personal finances and a reluctance to make significant purchases. Neil Bellamy, Consumer Insights Director at GfK, an NIQ…
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The Department for Work and Pensions’ (DWP) new powers to reach further into citizens’ lives must be used effectively and proportionately. In a new report on benefit fraud and error, the Public Accounts Committee (PAC) promises continued scrutiny of how the DWP will work to resolve the cases of carers wrongly pursued for overpayment debts,…
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Financial anxiety is significantly impacting the daily lives and well-being of millions of people across the UK, according to new research from financial education charity Money Ready. The study reveals that 39% of adults feel anxious when they think about money – and this anxiety extends into having a real effect on people’s wellbeing, behaviour…
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Energy regulator Ofgem has announced a 7% (or £117) reduction of the energy price cap for the period covering 1st April to 30th June 2026. This change amounts to a reduction of around £10 a month for the average household using both electricity and gas. The price cap refers to the default tariff applied when a…
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New figures published by StepChange Debt Charity Scotland have revealed that the average debt among people seeking help from the charity has reached on average £20,116 per client, a 10% rise year-on-year, and the highest level recorded in over a decade. Two in three clients were in arrears on their household bills, owing an average…
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UK-based debt recovery firm Lawton Hathaway has partnered with European digital debt collections specialist Debtist, marking the company’s formal entry into the UK market and reflecting growing international interest in the UK debt recovery and lending sector. Under the agreement, Debtist UK will operate in the UK as an authorised representative of Lawton Hathaway, allowing…
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Four in five (80%) of adults believe younger generations are worse off now than two decades ago, according to research from Hymans Robertson Personal Wealth. More than half (59%) blame the rising cost of living as a key pressure, while almost half (43%) highlight increasing housing costs. Surprisingly, almost three-quarters (74%) of over-55s say young…
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Cornwall Insight has released its final forecast for the April – June 2026 which predicts the cap will fall by £117 to £1,641 a year for a typical dual fuel household. This would represent a decrease of 7% from the current price cap, which is set at £1,758 per year. The main driver behind the…
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The average UK household is now spending nearly £119 per week on food shopping, according to new research by Confused.com, amounting to more than £6,000 per year. The research shows that the average food bill is £1,144 per year, or £22 per week, more expensive than in 2024, a 23% increase. This is significantly higher than…
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Thames Water Partners with Qualco UK to Advance Customer Engagement and Affordability Management Qualco UK, part of Qualco Group, has announced a three-year partnership with Thames Water , the largest water utility in the UK, serving 16 million customers across London and the Thames Valley. Following a comprehensive formal bid and Invitation to Negotiate process,…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies increased by 12% in January 2026 compared to January 2025, rising to 10,843 from 9,644. Personal insolvencies were 20% lower in December 2025 compared to January 2026, when numbers were affected by a temporary backlog. The personal insolvency data consisted…
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Latest UK Finance research has found that around 5,160 mortgaged properties were repossessed in 2025, a 39% increase from 2024. The fourth quarter saw 1,210 homes repossessed, up 17% year-on-year but down 13% from the previous quarter. Despite this rise, only 0.92% of all mortgages were in arrears. The report highlighted that most repossessions involved…
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The UK housing market has continued to outperform the wider economy, underpinned by a mortgage market that has absorbed higher interest rates more effectively than many expected, according to analysis from the Intermediary Mortgage Lenders Association (IMLA). IMLA’s latest report projects that mortgage arrears will continue falling through 2026 and 2027, even as the final…
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