Credit, Collections & Insolvency News
Over two million Britons are reportedly in debt to illegal lenders, a rise of 500,000 since 2022, according to the Centre for Social Justice (CSJ). Britain is facing a growing illegal lending crisis as record numbers of cash-strapped households turn to loan sharks to cover everyday living costs. The number of people borrowing from unscrupulous…
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With the 2026 World Cup kicking off, new research from Lowell shows that 43% of all gamblers increase their betting activity during major sporting events or tournaments. This rises to 50.6% among sports bettors specifically, with levels climbing to as high as two-thirds in certain cities. Gambling can significantly impact personal finances, with many bettors dipping…
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With the football World Cup just around the corner, new research from MoneySuperMarket has revealed that almost a quarter (23%) of Brits expect to rely on credit cards or borrowing to fund World Cup-related spending. The survey of UK adults revealed it won’t just be the beer leaving Brits with a hangover this summer, with…
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New research from the National Audit Office (NAO) has revealed that millions are missing out on vital support with energy and water bills. This comes as over £7 billion worth of debt is owed to energy and water companies. The report examined how Ofcom, Ofwat and Ofgem support consumers in vulnerable circumstances and whether people…
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One in four (25%) adults borrowing money from their parents for bills such as rent or insurance admit they don’t always tell their partner about the extra help, even though they share the bill, according to new polling data conducted by Compare the Market. This proportion rises to a third (33%) among Gen Z and…
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Credit Connect hosted its second annual Spring Series of events at the end of May at Eastwood Hall Hotel in Nottingham. The event opened with the first-ever Industry Leaders networking dinner, which hosted 60 attendees who have been nominated and ratified by Credit Connect’s Industry Leaders partner associations: CIVEA, CICM, CCUA, CCTA, Cifas and Registry…
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A fifth of adults in the UK are feeling constant ‘financial regret’ over their spending habits, with pressures felt particularly strongly by younger generations, according to research from Hymans Robertson Personal Wealth. The poll found that more than a fifth (21%) of people said they regret overspending on “consumables” such as clothes and meals out,…
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Eight in ten gamblers aged 18-24 (83%) will bet more frequently in 2026 due to major sporting events like the World Cup, with a quarter (25%) doing so to help cover essential bills, according to new research from Nationwide. By comparison, less than half (37 per cent) of those over 55 expect to gamble more.…
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New consumer survey and spending data from the Vanquis Financial Wellbeing Index has revealed that one in three workers earning under £40,000 are creating additional income streams to make ends meet. At the same time, households continue saving less than £3 in every £100 earned. Despite widespread efforts to manage money carefully, many households simply…
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The latest data from the ONS on households’ costs highlights the higher rate of inflation that renters are experiencing compared to homeowners. Mortgagors and outright owner occupiers each had the lowest annual inflation rate of all tenure types, of 3.6% in the year to March 2026 with mortgagors experiencing a slight decrease from 3.7%; both…
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Research conducted by Updraft has revealed that Brits are expected to accumulate an average of £1,641 in credit card debt over the summer months, with many falling into the trap of overspending, missing grace periods and accruing interest. In fact, for some, summer 2025 spending may not even be paid off yet. Updraft surveyed 2,002…
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Credit Connect has announced its 2026 Industry Leaders list. The Leaders list was announced as part of the inaugural Industry Leaders Dinner at the Eastwood Hall in Nottingham, which is part of the Credit Connect Spring series event. The Spring event series also includes the Commercial Credit & Collections Conference, Credit & Collections Think Tank…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies fell by 10% when compared to March 2026 but were 7% higher than in April 2025. The data showed that 10,920 individuals entered insolvency in April 2026. The insolvencies consisted of 701 bankruptcies, 4,033 debt relief orders (DROs) and…
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