Credit, Collections & Insolvency News
Half of young adults in the UK say a lack of financial education directly contributed to their housing struggles, according to new research published today by financial education charity Money Ready and funded by the Berkeley Foundation. Launched ahead of World Homeless Day, the findings highlight that millions of young people are entering the housing…
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Intrum’s annual European Consumer Payment Report has shown that consumers can meet their immediate needs, but their reliance on borrowing has increased dramatically, suggesting that pressure is growing beneath the surface. The data showed that late payment levels have remained static; 72% of consumers have borrowed money or used credit to pay bills in the past…
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New polling from Independent Age has shown that 55% of adults under the age of 65 are not confident they will have enough money to live comfortably in retirement. The charity, which today launches a new strategy and visual identity, says these findings should raise the alarm about the threat of poverty in later life…
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Consumer credit borrowing grew to £2.5 billion in August, up from £2.1 billion in July and above the previous 6-month average of £1.9 billion. Within this, credit card borrowing was £1.2 billion in August (up from £0.9 billion in July) and borrowing through other forms of consumer credit (such as car dealership finance and personal…
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The Insolvency Service is encouraging anyone who paid for a debt relief order (DRO) but did not submit their application to make contact for a refund. Thousands of people can claim money back after the £90 DRO application fee was scrapped The Insolvency Service has written to everyone affected, but some customer contact details may…
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With households already stretched by the cost of food, energy and other essentials, new research suggests millions of UK drivers are just one fault away from a financial shock. New research commissioned by subscription lender Creditspring among 1,273 UK drivers found that a quarter (25%) have no money put aside specifically for vehicle emergencies, leaving…
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Millions of households that appear financially secure today could be vulnerable to future financial shocks, according research by Yorkshire Building Society in collaboration with the University of Bradford, which provides a practical framework for understanding financial vulnerability and resilience. Drawing on data from 10,000 UK adults and advanced predictive modelling, the report finds that many households…
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The Financial Conduct Authority (FCA) has issued a fresh warning to people in need of debt advice about the importance of seeking free, impartial and trustworthy advice. The Regulator has identified several red flags to look out for to ensure consumers are dealing with properly regulated and legitimate debt advice providers. The red flags include:…
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A new survey by credit card brand Aqua has revealed that almost two in five people (38.8%) typically run out of money before their next payday. Almost a quarter of people (23%) worry every day about having enough money till payday, highlighting the financial pressures many households may face when trying to make their income…
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Latest monthly figures from the Insolvency Service for England & Wales showed that personal insolvencies decreased by 2% in August 2026 compared to the previous month, with 11,644 individuals entering insolvency in England and Wales. This was similar to July 2026 and 3% higher than in August 2025. The personal insolvencies consisted of 725 bankruptcies,…
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Latest data from the Insolvency Service has shown that personal insolvencies increased whilst business insolvencies fell in Northern Ireland in August 2026. The data showed that there were 140 personal insolvencies; this was 4% higher than in August 2025. The insolvencies comprised 117 IVAs, 16 DROs and seven bankruptcies. Business insolvency data showed that insolvencies…
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A National Student Money Survey has found that 63% of respondents skip meals at least some of the time to save money. The data showed that surveyed students spend an average of £1,146 per month on living costs (£1,326 per month in London) with on average, Maintenance Loans fall short of spending on living costs by £467…
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Money Wellness, four MPs and twelve organisations are leading a call to make the public insolvency register private. Someone fleeing an abusive partner who needs help with their debts can have their name, date of birth and home address published on the Government’s Individual Insolvency Register. The register is publicly accessible for anyone to search.…
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