Credit, Collections & Insolvency News
Latest statistics quarterly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies numbers have reached their highest total number in over three years, since Q4 2018. The figures reveal that there were 32,305 (an increase of 16.8%) individuals entering either bankruptcy (1,679) a debt relief order or DRO (6,629) or…
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Here is an overview of The Money Charity’s latest statistics for Apri, 2022 Personal debt in the UK People in the UK owed £1,773.2 billion at the end of February 2022. The average total debt per household, including mortgages, was £63,803 and per adult was £33,526, around 107.9% of average earnings. Net mortgage lending rose by…
Read moreLatest figures from Accountant in Bankruptcy have shown that overall, personal insolvency numbers (bankruptcies and protected trust deeds) in Scotland for Quarter 4 2021-2022 were 13% higher compared with Q4 2020-2021, at 1,894 (2021-2022) against 1,677 (2020-2021). A total of 551 bankruptcies were awarded during this quarter – a 2.1% decrease on the same quarter…
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Average UK rents have increased for the sixth consecutive quarter, according to The Deposit Protection Service (The DPS). The research also showed that some tenants are paying above the going rate to secure a property. The UK’s largest protector of deposits, which safeguards 1.8m rent securities, says that average rents now stand at £849 a…
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More than 200,000 private renters in England have been served eviction notices without doing anything wrong in the three years since the government first promised to ban the practice according to research by Shelter. The research found that every seven minutes a private renter in England is handed a Section 21 no-fault eviction notice by…
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The Office for National Statistics (ONS) has published its latest cost of living statistics finding that one in four (23%) adults find it difficult to pay household bills in the last month, compared with a year ago. The research also found that nine in ten (87%) adults reported an increase in their cost of living…
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Latest figures from the Insolvency Service have indicated that personal insolvencies in England & Wales increased by 17.2% to 11,530 in March 2022 compared to 9,836 in February and were 5.3% higher than March 2021’s figure of 10,953. There were 2,512 DROs and 633 bankruptcies in March 2022 in England & Wales. The number of…
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Qualco has announced that it has gone live with a new open banking technology partnership. Working with Ecospend and Themis Global, Qualco UK introduced account-to-account payment options, under a white label model, for a new client, Simon Jersey. The approach includes letters, emails and SMS being sent to customers, containing a unique QR code, which…
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The latest UK Consumer Prices Index (CPI) figures, published by the Office for National Statistics, show that CPI rose to 7 percent in the twelve months to March, up from 6.2 percent in February. Recent research from the Money Advice Trust on the impact of rising costs on households, found that one in seven (an…
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Real average weekly pay packets fell by 1.3 per cent in February, with a far deeper squeeze coming in the months ahead, despite the jobs market continuing to tighten and last year’s furlough flattering the headline pay data, the Resolution Foundation says in response to the latest ONS labour market statistics. The UK jobs market…
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The new level of state pension payments which has come into effect today will see the full new state pension rise to £185.15 from £179.60 a week. The basic state pension full amount has risen from £137.60 to £141.85 – a rise of 3.1%, compared with a current inflation rate of 6.2%. That’s an extra…
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New research has found that one in four people spent their lockdown savings on paying bills. The research by Opinium on behalf of Hargreaves Lansdown found that 47% of people saved something during the lockdowns, of those who saved something, and could remember how much, around a third saved more than £3,000. Only a third of…
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Over 1.2 million subscription payments have been cancelled since the summer of last year as households feel the squeeze of the cost of living crisis, research from Lloyds Bank shows. Popular TV, film and music streaming services made up almost half (47.1%) of regular payments cancelled, with households taking further stock of their discretionary spending,…
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