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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Latest data from the Bank of England has found that loan defaults have risen to 6.2% in early 2026, the highest since late 2024 (7.8 per cent), when the UK had seen several hikes in interest rates. Unsecured lending defaults hit 18.6% in Q1 this year, the highest figure since the last quarter of 2023.…
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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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Two thirds (64%) of couples claim higher living costs is making money a bigger issue in their relationship according to new research from Hymans Robertson Personal Wealth. Despite this, less than half (46%) say they know how much their partner earns and only 14% of couples say they regularly discuss their finances together, suggesting many…
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New Barclays research shows that a long‑standing reluctance to talk about money continues to affect how confidently adults manage their household finances. While many avoid financial conversations – often reflecting attitudes shaped in childhood – there is growing recognition that being more open can make a real difference. With six in ten adults (59 per…
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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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London is the only major city in Britain where household financial health is worsening, according to new research by Lowell. While financial pressure is beginning to ease across much of the country, London is not sharing in the recovery. Households in London are using up their savings: London is the only major city where emergency…
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A graduate who grew up in deep poverty will earn 5%, over £2,800 a year, more than a more privileged peer working at the same firm with an equivalent degree a decade after graduation, highlighting the scarring effect of childhood poverty, according to new research published by the Resolution Foundation. The long shadow – funded…
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Council tax bills across England and Wales are expected to rise by an average of 5% as local authority finances are further stretched. Debt charity, StepChange says this will exacerbate existing cost-of-living pressures as household budgets are forced to stretch further. The debt charity is warning that the expected rise in council tax rates will…
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Renters are now handing over 39% of their monthly take-home pay to their landlords, on average. That’s the equivalent of two days a week worth of work being spent purely on rent according to new research by Confused.com home insurance, which found that the average monthly rent cost is now £839. Although for some, this…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 19% in January 2026. 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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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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