Credit, Collections & Insolvency News
More than half (52%) of adults aged 25-55 have experienced a major life event, such as redundancy, serious illness, bereavement, or relationship breakdown, in the last three years, according to new research commissioned by the Money Advice Trust, the charity that runs National Debtline. These events often have significant financial consequences, with one in five…
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Fewer than one in ten (9%) adults with living parents have discussed how finances should be managed if they developed a condition such as dementia. This is despite more than half (53%) saying they would feel comfortable having the conversation, according to new research from Nationwide. A lack of preparedness means that nearly a quarter…
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Latest Bank of England data (Quarter 3 2026) has shown that credit card defaults increased in the three months to August, with banks and building societies expecting further rises by November, highlighting growing risks in unsecured lending. Within the overall figure, demand for credit card lending was unchanged. Mortgage defaults fell slightly and are expected…
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The past five years of a near-continuous cost of living crisis have caused the real incomes of typical working-age households to fall rather than grow, leaving them £2,900 (7.9 per cent) worse off this year compared to a world of normal inflation, according to new analysis published by the Resolution Foundation. The report Counting the…
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Half of young adults in the UK say a lack of financial education directly contributed to their housing struggles, according to new research published today by financial education charity Money Ready and funded by the Berkeley Foundation. Launched ahead of World Homeless Day, the findings highlight that millions of young people are entering the housing…
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Intrum’s annual European Consumer Payment Report has shown that consumers can meet their immediate needs, but their reliance on borrowing has increased dramatically, suggesting that pressure is growing beneath the surface. The data showed that late payment levels have remained static; 72% of consumers have borrowed money or used credit to pay bills in the past…
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New polling from Independent Age has shown that 55% of adults under the age of 65 are not confident they will have enough money to live comfortably in retirement. The charity, which today launches a new strategy and visual identity, says these findings should raise the alarm about the threat of poverty in later life…
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Energy UK has again warned the Government of the growing economic cost of failing to tackle high energy bills, with predictions pointing to the biggest rise in four years come January, while customers are in an even more challenging financial position. This week saw the current price cap, which runs until the end of December,…
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Ahead of household energy bills rising by 4% from 1st October, Cornwall Insight have released new forecasts which suggest a bigger increase is on the way in the new year. The price cap is expected to rise by 16% compared to October, reaching £1,999 a year for a typical dual-fuel household¹ in January 2027, an…
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Consumer credit borrowing grew to £2.5 billion in August, up from £2.1 billion in July and above the previous 6-month average of £1.9 billion. Within this, credit card borrowing was £1.2 billion in August (up from £0.9 billion in July) and borrowing through other forms of consumer credit (such as car dealership finance and personal…
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The Credit Services Association (CSA), the trade body representing the UK debt purchasing and debt collection industry, has published new guidance to address widespread and harmful misinformation about Deeds of Assignment (DOA) and Data Subject Access Requests (DSARs). The guidance follows discussions with the Information Commissioner’s Office (ICO). The new guidance is available on the…
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Ofgem’s latest social obligations (debt and arrears) report has revealed that total domestic customer debt and arrears, across a period of more than 91 days, now top £5 billion among households in Britain. This marks a 4.8% increase from Q1 2026 and a 13% year-on-year increase. This comes as StepChange data further illustrates the pressures…
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New figures released by the Finance & Leasing Association (FLA) have shown that second charge mortgage new business volumes grew by 1% in July 2026. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer Finance & Mortgages and Inclusion the Finance & Leasing Association (FLA), said “The…
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