Credit, Collections & Insolvency News
New research from Scottish Widows has revealed that a quarter (5.7 million) of working-age adults don’t believe they’ll ever be financially independent. This lack of financial independence is especially prevalent among younger people, renters, and individuals with disabilities. And for many, key markers of independence like being debt free or having emergency savings, feel unattainable. The…
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New data from global credit management provider Pepper Advantage has shown that arrears and direct debit rejections (DRRs) have declined, with the overall arrears rate decreasing by 4.4% and the DRR rate falling by 5.1% with Quarter 2 (Q2) 2025 marking the first quarter since the Covid-19 pandemic in which a decline in both areas…
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A quarter (5.7 million) of the UK working age population don’t think they’ll ever be financially independent, according to Scottish Widows’ latest Retirement Report. The most commonly cited indicators for achieving financial independence included being debt-free (56%), having sufficient emergency savings (51%) and comfortably meeting daily expenses (43%). Looking at financial resilience, the data published by…
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Latest Accountant in Bankruptcy figures have shown that personal insolvency numbers (bankruptcies and protected trust deeds) in Scotland for Q1 2025-2026 decreased by 5.8% compared with Q1 2024-2025, to a total of 1,935. The number of personal insolvencies (bankruptcies and protected trust deeds) in Scotland for Q1 2025-2026 increased by 15.8% compared with the previous…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency figures increased by 1.6% in June 2025 to a total of 10,279 compared to May 2025’s total of 10,113, and slightly decreased by 0.7% compared to June 2024’s figure of 10,356. In June 2025, 10,279 individuals entered insolvency in England…
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A new study by KidsKnowBest, has revealed that financial anxiety is not a distant adult concern, but a present reality for UK children aged 7-14. Nearly half (46%) children are worried about money and their future and one in four children (24%) are explicitly anxious about basic needs. More than half (55%) of respondents revealed…
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New data from Coram Family and Childcare’s annual Holiday Childcare Survey has found that childcare costs have gone up by 4% since last summer. The data shows that working parents face an average bill of £179 per child per week – £1,075 for the six-week break. Commenting on the data, Susannah Streeter, Head of Money…
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New research commissioned by debt resolution specialists, DCBL has found that more than half (51%) of people aged 55+ say apps now help them manage their money. The research also showed that over three-quarters (76%) say they would proactively manage their finances via an app or online portal if their bank or finance provider gave…
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A record 128,000 households are living in temporary accommodation in England, an increase of 160 per cent since 2010, as support for lower-income families through social housing and the benefit system continues to decline, according to new Resolution Foundation research. With the creation of affordable homes being one of the Government’s central milestones, the Foundation’s…
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Latest Government statistics have shown that in April 2025, 469,780 Universal Credit households were affected by the two-child limit policy: that is, they had a third or subsequent child born on or after 6TH April 2017. This was an increase of 13,520 (3%) from the total number of households affected on either Universal Credit or…
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Debt charities are calling for a fundamental overhaul of the personal insolvency system in England and Wales, warning that current debt remedies are no longer working for people in crisis or for creditors. In a new joint paper Citizens Advice and the Money Advice Trust, the charity that runs National Debtline, have set out a…
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Research by TSB has found that among the 31 per cent of people who have acted on financial advice on social media platforms, over half (55%) lost money as a result. The data found that over two-fifths (42%) of 16-24-year-olds reported having used social media to access financial advice in the past 12 months, followed by…
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New data from Fair4AllFinance has found that one in four people (24%) in financially vulnerable circumstances in the UK hold no savings at all. The data showed that 10 million people across the UK have stopped saving entirely, or are saving less than they did a year ago. The 10 million figure represents more than…
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