Credit, Collections & Insolvency News
Millions of leaseholders across England and Wales are set to benefit from a major shake-up of the outdated leasehold system – with ground rents set to be capped at £250 a year, changing to a peppercorn cap after 40 years. Ground rents were abolished for most new residential leasehold properties in England and Wales in…
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The number of people living in “very deep poverty” in the UK is at the highest level in more than 30 years, according to new research by Joseph Rowntree Foundation (JRF). Very deep poverty is defined by the Joseph Rowntree Foundation as earning below 40% of the median household income. According to its latest report,…
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Dubbed ‘divorce month’, January has famously been cited as the time of the year when family lawyers see a surge in those looking to end their marriages. According to current data from Google, searches for ‘divorce’ in the week beginning 11th January are at their highest in 12 months in the UK. Family lawyers also…
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A new study by Thinkmoney has found that two in five (39%) people currently using private weight-loss injections are getting themselves into mounting financial difficulty to fund the treatment. According to the survey, the average debt is exactly £1,616, with people’s preferred option to put the cost on a credit card (50%). Almost as many…
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New analysis from debt management firm Lowell has found that 61% of households (17 million) don’t have sufficient emergency savings to cover these unexpected costs without turning to credit. At the time of reporting, the cheapest fridge/freezer available at Argos would set someone back £160, a washing machine £189 and a dishwasher £189. Replacing a…
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Energy company, OVO will pay over £2.7 million in redress after failing to provide Warm Home Discount (WHD) rebates to 11,646 customers by the statutory deadline of 31st March 2024. These customers did not receive their rebate until November 2025 – more than 19 months late. The delay meant that some of the most vulnerable…
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New research by the People’s Partnership has revealed how the majority of adults think that without financial education, we will all be poorer in the future, and we are failing future generations if we don’t equip them with financial literacy. The data shows that nine in ten (85%) of adults believe that without financial education,…
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Latest data from the Insolvency Service for England & Wales has shown that personal insolvencies increased by 7% in 2025 when compared to 2024, rising to 126,240 from 117,958 in 2042 The annual number of IVAs in 2025 was 7% higher than in 2024, but remained lower than the record high annual numbers between 2019…
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Research from Thinkmoney shows that while the festive season may feel like a distant memory, the financial consequences are only just beginning for a significant number of people. Credit card statements, Buy Now Pay Later reminders, overdraft balances and household bills are all landing at once, creating pressure at the start of the year. The…
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The Enforcement Conduct Board (ECB) has published its first Insight Report, which presents new data on enforcement (bailiff) industry practices, drawing on evidence from its complaints handling service and oversight work. The data showed that the enforcement industry is handling over 7 million cases a year, impacting millions of people, with the industry sector collecting…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 27% in November 2025. 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 “The…
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The Money Advice Liaison Group (MALG) has announced ithas secured funding from Money & Pensions Service for a new research initiative exploring what safeguards are needed to ensure Generative AI is used safely for debt advice. The research project, entitled ‘Exploring Safe & Effective Self‑Serve in Regulated Debt Advice in the Generative AI Era’, is…
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Age UK has warned that there is no room for complacency when it comes to reducing poverty among our growing older population and calls on the Government to do more to address it. Around one in six, equivalent to 1.9 million, pensioners already live in poverty and the Charity is worried that unless something changes,…
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