Credit, Collections & Insolvency News
New YouGov polling by StepChange Debt Charity reveals more than one in four adults (27%), equivalent to around 14.3 million people, will struggle to afford Christmas this year, which rises to almost one in three (31%) among parents with children at home. With the cost of living still stubbornly high and millions struggling to make…
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One in ten (8%) of people have no emergency savings at all, rising to one in ten women (10%) according to Hargreaves Lansdown (HL) Savings and Resilience Barometer. The research found that 11% of the squeezed middle (35-54), 12% of single people and 17% of renters do not have savings, whilst 11% have £100 or…
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The winners of the 2025 Credit & Collection Technology Awards have been announced following a live in-person event yesterday (Thursday 20th November) at the Midland Hotel in Manchester. The awards are the flagship event for innovative technological professionals working in credit and collections and the eighth annual event honoured the UK’s technological innovators, celebrating outstanding…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies decreased by 4% in October 2025 to a total of 10,552 individuals. The figures were 4% lower than in September 2025 and 14% higher than in October 2024. The insolvencies consisted of 599 bankruptcies, 3,846 debt relief orders (DROs)…
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Latest data from UK Finance has shown that home repossessions rose sharply in Quarter 3 (Q3) 2025, but mortgage arrears fell. The analaysis showed that there were 1,390 homeowner repossessions, up 51% annually, and 900 buy-to-let repossessions, with this up 29%. Despite this, levels remain close to pre-pandemic norms and well below long-term averages, with…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 22% in September 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…
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The Treasury has unveiled its Financial Inclusion strategy which will aim to bring a focus on building financial resilience for households most at risk of problem debt. The Financial Inclusion Committee’s mission is to tackle barriers to individuals and households’ ability to access affordable and appropriate financial products and services. The Treasury said its new…
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New data from the Vanquis Financial Wellbeing Index has shown that these people lack the confidence to have children or grow their families, with many taking on second jobs and cutting back on non-essentials to cope financially. The report shows that only 14% of householders earning under £40,000 feel confident in their ability to afford…
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New research from financial wellbeing provider Money Wellness found that 22% of higher earners (those earning between £35,000-£54,999) feel uncomfortable talking about money, almost double the 12% of lower earners (earning £17,000 – £34,999) who feel the same. Despite the discomfort, financial struggles affect all kinds of households. Nearly one in five (18%) say they’re scarcely…
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Most people wait until their money worries reach tipping point before asking for help, according to new research by Lowell, finding that nine in ten people delay seeking help until their financial situation becomes critical. The study, conducted by Lowell to mark Talk Money Week, found that only one in ten people seek help at…
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New research commissioned by debt charity StepChange and Equifax has uncovered the profound and often hidden financial challenges faced by neurodivergent individuals. The research, which combined an online survey with in-depth interviews of neurodivergent individuals experiencing debt, found that almost all survey respondents (97%) felt that being neurodivergent presented challenges when it came to managing…
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Lloyds Banking Group research has shown that more than 28 million (56% of UK population) adults are now turning to Artificial Intelligence (AI) to help manage their money. ChatGPT is referenced as the most popular platform, used by six out of ten. With more than half of people who use AI employing it for budgeting,…
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Ofgem has announced a new plan to tackle the growing crisis of energy debt through a new Debt Relief Scheme (DRS). The regulator has confirmed the first phase of the scheme will write off up to £500 million of historic debt built up during the energy crisis, with total energy debt across the UK now…
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