Credit, Collections & Insolvency News
Rising energy prices caused by the war in the Middle East will cause a drop in living standards for households, according to new analysis by the Resolution Foundation Despite some lower-income households receiving a long-overdue real-terms increase in their benefits, we now estimate – based on market-forecasts for the rise in energy prices consistent with…
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Credit Connect has announced the shortlist of companies and partnerships for this year’s third annual Credit & Collections Industry Awards. The finalists for this year’s awards consist of 108 entrants (whittled down from nearly 115 entries) from nearly 80 companies within the shortlist. There are over 20 partnership entries in the running to win across…
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Ofgem’s latest debt and arrears data shows that total energy debt has risen once again and now stands at a record £4.55 billion for the period to the end of 2025, up 18% year on year. As essential bills like gas and electricity continue to drive the cost of living crisis, StepChange reveals that client…
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Data from Cornwall Insights has found that a typical gas and electricity bill is forecast to reach £1,929 a year from July under Ofgem’s quarterly price cap, up £288 (or 18%) from the current cap. The slight reduction in the forecast follows a partial steadying in wholesale markets after a pause in energy infrastructure strikes…
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New data by Age UK has found that more than one in four (28%) pensioners said they were struggling financially before war broke out in Iran, with energy being the main issue. Following on from the Government’s announcement this week providing £53m of support for oil-heated households, Age UK warns this package won’t be enough…
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New research by Confused.com has found that almost half (48%) of people admit to lying to their partner about their financial situation in the past. With the cost of living crisis putting financial pressure on people it’s not surprising that money can sometimes cause issues in relationships. Over one in two (58%) partners argue about…
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Debt charity, StepChange, has warned that high levels of arrears across essential bills have become the ‘new normal’ for many households. Those on the lowest incomes are being hit hardest, often forced to juggle everyday living costs while trying to repay historic debts. The report reveals that in 2025, average household arrears are up 11%…
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The Consumer Council for Water (CCW) says allowing five water companies to increase their customers’ bills even further will heap more pressure on households already struggling to absorb recent price hikes. CCW has responded to the final determinations of the Competition and Markets Authority which has ruled on the appeals made by five water companies – Anglian Water,…
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The Government has announced that hundreds of thousands of households will benefit from lower water bills after the Government announced a major reform of WaterSure. Low-income households that use high amounts of water can qualify to have their bills capped. They must have a water meter and either a specific medical condition or three or…
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Energy regulator Ofgem has announced a 7% (or £117) reduction of the energy price cap for the period covering 1st April to 30th June 2026. This change amounts to a reduction of around £10 a month for the average household using both electricity and gas. The price cap refers to the default tariff applied when a…
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Cornwall Insight has released its final forecast for the April – June 2026 which predicts the cap will fall by £117 to £1,641 a year for a typical dual fuel household. This would represent a decrease of 7% from the current price cap, which is set at £1,758 per year. The main driver behind the…
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The Government has announced that around six million low-income households will continue to receive £150 off their winter energy bills with the Warm Home Discount scheme extended by five more years. The Government’s expansion of the Warm Home Discount last year added 2.7 million families to the scheme, bringing the total number of eligible households…
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New data from Water UK has indicated that water bills in household water bills in England and Wales will rise by an average of 5.4% – around £33 a year, or approximately £2.70 per month – from April, reflecting significant investment in upgrading water infrastructure. The rise is two percentage points above December’s official inflation…
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