Credit, Collections & Insolvency News
MPs, Government Department Officials and supporting organisation in Parliament have joined a call for urgent changes that would support a fresh financial start for in-debt survivors of domestic, economic and digital abuse so they are better protected. The roundtable, hosted and chaired by Emily Darlington MP, focused on the Persons At Risk of Violence (PARV) order process – the…
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An estimated 12.3 million households have had to put off some form of home maintenance work because of the cost of living crisis, according to new research by Go.Compare home insurance, The figures show that around two-fifths (43%) of residents have had to delay these types of jobs due to rising costs. This means millions…
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New research by Lowell and Opinium has found that household finances are now in a worst state since pandemic. The research shows after years of high inflation, traditionally affluent areas populated by middle-income families have seen the biggest erosion of their financial security. The data shows that six in ten households lack sufficient savings…
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The Financial Conduct Authority (FCA) has highlighted that banks and building societies can improve how they treat customers affected by bereavement or registering a power of attorney. Since the introduction of the Consumer Duty, some firms are making a real difference with clear policies and procedures and actively using data to better identify needs and…
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After a tough Budget and Spring Statement for low-to-middle income households, the Government’s Spending Review could brighten a bleak living standards outlook by prioritising spending on services they use the most, according to new research by the Resolution Foundation. The research notes that public services are crucial for quality of life, providing ‘in-kind’ benefits worth…
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The UK’s ongoing cost-of-living crisis remains significant, with new figures revealing a sharp rise in housing costs and debt levels, according to research by Money Wellness. The data, which tracks household finances from the fiscal year 2023/24 to the first quarter of 2024/25 (prior to April’s price increases), shows that ,ortgage payments have surged by…
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Credit Connect has announced the shortlist of companies and partnerships for this year’s second annual Credit & Collections Industry Awards. The finalists for this year’s awards consist of 97 entrants (whittled down from over 100 entries) from 73 companies within the shortlist, there are 23 partnerships in the running to win across the 20 categories.…
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As consumers brace themselves for the higher prices kicking in from today (1st April) across bills including energy, water and broadband, those on the lowest incomes are running out of options, Citizens Advice warns. Households in the lowest 10% for income already spend around two-fifths (41%) of their earnings, after housing – on water, energy,…
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The combination of a weak economic outlook and benefit cuts that fall disproportionately on lower-income families means that living standards are on track to fall over the next five years for the poorest half of households by £500 on average, according to the Resolution Foundation’s overnight analysis of Spring Statement 2025. Key findings include: A…
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A new survey by Ocean Finance has found that 73% are worried about affording their essential bills this Spring. Millions of households across the UK are set to be hit with yet another wave of bill increases this April, with hikes expected across council tax, broadband, water, energy, and phone contracts. 42% say they’ve already…
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A new study by Go.Compare has revealed that an estimated 6.6 million people now rely on their credit cards to pay everyday bills such as groceries and utilities. In total, 17% said they need their card to afford their bills, with 13% stating that the cost of living crisis is the reason for this. This…
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Latest data from GfK’s consumer confidence index showed that it increased by one point in March to minus 19, despite analysts expecting a drop. Sentiment about the performance of the UK economy over the past year and its potential to gather momentum in the coming year improved in March. However, consumers became slightly more pessimistic…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency figures increased decreased by 4.1% in February 2025 to 10,147 when compared to January 2025’s total of 9,752, and decreased by 5% when compared to February 2024’s figure of 10,684. The personal insolvency figures consisted of 600 bankruptcies, 3,865…
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