Credit, collections & insolvency news
Latest data from the Ministry of Justice has shown that mortgage possession claims rose by 56% in the last quarter (July to September 2024) when compared to same quarter in 2023. The latest quarter saw a total of 6,525 mortgage possession claims compared to the same quarter of 2023 (4,188) and a significant 77% increase…
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Credit Connect hosted its fourth in-person Credit & Collections Technology Think Tank last week in Manchester which saw credit and collections strategies and the impact of the cost of living discussed by sixteen professionals from a variety of industry sectors at the Midland Hotel in Manchester. The themes of cost of living impacting customer engagement,…
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New research from Go.Compare has found that financial worries are affecting how consumers are planning for the festive holiday, with over a third (35%) saying they’ve made the tough decision to cut their Christmas budget this year. The research found that 37% admitted they will have to be very careful with money this year. A…
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New research by TotallyMoney data found that one in five adults (19%) are overdrawn by £697 each day with many high street banks are charging between 35%-49.90% APR. This makes overdrafts an expensive way to borrow money, and in line with a typical near-prime personal loan (a prime personal loan would usually be below 10%…
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New research from Pay.UK, owner and operator of the Current Account Switch Service, reveals a stark generational divide in financial confidence and knowledge across the UK. Younger generations, particularly Gen Z, reveal lower levels of financial competence, with only 26% able to correctly calculate compound interest and just 35% understanding how savings accounts work. In…
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Two in five households across England and Wales say they will find it difficult to afford the increases to water bills being proposed by the regulator Ofwat. The Consumer Council for Water (CCW) has published the findings of an in-depth study of 9,500 households. It gauged billpayers’ views on the regulator’s draft decisions to allow water companies to…
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New research by Hargreaves Lansdown has found that one in four people (26%) said they wouldn’t talk to anyone if they had money worries. The data also shows that this figures rises to 30% among men and 36% among those aged 55 and over. The research found that 13% would speak to a debt charity…
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The first Labour Budget in nearly 15 years marked a decisive shift from the planned cuts set out by the last Government, with better-funded public services and greater public investment coming from higher taxes and more borrowing. But the Budget has not yet delivered a decisive shift away from Britain’s record as a ‘stagnation nation’,…
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New Enforcement Board (ECB) research has found that 6% of civil enforcement doorstep interactions are a breach of current standards. The research, commissioned by the ECB and led byagency M.E.L Research, represents the first comprehensive study of its kind. Researchers analysed a substantial, randomly selected sample of over 600 videos of interactions between enforcement agents…
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After purchasing their first home, one in 10 (10%) first-time buyers expect to have less than £200 left each month, while one in 20 (5%) believe they would have nothing at all to live on, according to Yorkshire Building Society. A further two-thirds (64%) are worried they won’t be able to afford to put any…
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New research from Skipton Building Society has found that just one in four people (26%) are feeling hopeful and optimistic about the upcoming Budget announcement. Whilst a further 70 per cent admit to feeling worried or anxious on what the Government may announce. And of those, it is more women (77%) than men (62%) feeling…
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Ahead of a hand-in of more than 500,000 signatures calling on the UK Government to protect the Winter Fuel Payment, new research from Independent Age has found that 44% of older people (65+) in England think losing the Winter Fuel Payment will negatively impact their physical heath. The new polling also shows that many people…
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Latest Bank of England of England data has reported that lenders have seen mortgage defaults rose in the three months to the end of September and are expected to do so again in the last three months of 2024. The recent rise in default rates was lower than the banks had expected. However, in the last…
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