Credit, Collections & Insolvency News
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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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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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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Latest data from Hargreaves Lansdown has found that households with unsecured debts (like credit cards and loans) spend an average of £259 a month on them. Bank of England showed that the annual growth rate for all consumer credit was 8.1% and for credit cards it was 12.1% – the highest since January 2024. In…
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Latest Bank of England data has shown that credit card borrowing rose at the fastest annual rate for almost two years in November. Net borrowing through credit cards was £1 billion, up from £700m in October 2025. Net borrowing of consumer credit by individuals increased to £2.1 billion in November from £1.7 billion in October.…
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A KPMG survey has found that two-thirds of people believe the economy is worsening. Despite almost no change in how households feel about their own finances throughout the past year, 2025 saw a steep decline in sentiment towards the economy. Entering 2026, the majority of people (56%) feel secure in their personal finances, a 1%…
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More than half of couples would consider staying together for the sake of the finances, with only 40% of people stating that they would never stay in a bad relationship for financial reasons, according to research by Opinium for Hargreaves Lansdown. The first Monday back to work after Christmas has been dubbed ‘Divorce Day,’ because…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies decreased by 12% in November 2025 to a total of 9,343 compared to the October 2025 figure of 10,612. The Insolvency Service moved to a new case management system on 1st November 2025. As a result, there was a…
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More than six in ten (62%) parents believe a traditional Christmas is under threat due to the cost of living, with four in ten (40%) having to prioritise essential bills over festive spending, new research from Nationwide reveals. The poll of over 1,000 parents, done in partnership with charity Action for Children, also reveals that 42…
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Consumer confidence improved in December, rising to minus 17 from minus 19, according to data. from GfK. The index measuring changes in personal finances over the last 12 months has increased by one point to -6. This is one point higher than December 2024. The forecast for personal finances over the next year is up one point to 2. This is an…
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Rising costs are reshaping Christmas traditions, with a quarter of people (24%) now believing you should be able to charge guests for Christmas dinner, an emerging trend dubbed the Pay Per Plate Christmas. Among 18 to 24 year olds, 42% say hosts should be allowed to charge, compared to 36% of 25 to 44 year…
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Around one in three consumers (30%) in the UK are planning to spend more this Christmas compared with last year, according to new Deloitte research. This is higher than the rest of Europe, where less than a quarter (23%) plan to spend more. In the UK, younger consumers aged 18-34 are nearly twice as likely…
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