Credit, Collections & Insolvency News
Parents with children below the age of 18 have expressed widespread concern about the country’s economic outlook and its impact on family finances according to new research by Confused.com Life Insurance. The findings shed light on parents’ financial priorities, worries, and hopes for their children’s futures with an overwhelming 78% expressing concern about the UK’s…
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One in seven retirees are returning to work or are considering doing so, with financial pressures, a lack of pension provision and desire for social connection driving this, according to new research from Standard Life. 7% of retirees aged over 55 have already gone back into work, with a further 2% actively looking for employment.…
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New research from Rightmove’s Rental Tracker has shown the slowest rate of growth in private rent prices since 2021. The data showed that rents are still 4.7% higher than this time last year. Average advertised rents outside London fell for the first time since pre-pandemic 2019 to £1,341 per calendar month (down 0.2% vs the…
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New Censuswide polling from StepChange Debt Charity finds that just over two in five (41%) GB adults – equivalent to 21.3 million people – expect their financial situation to worsen over the next 12 months. The findings show that meeting the cost of living and higher energy bills this month is a major factor driving…
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A coalition of organisations including StepChange Debt Charity, Christians Against Poverty, Money and Mental Health Policy Institute, Money Advice Trust and six others has written to the Government reiterating a call to end imprisonment for non-payment of council tax. The coalition claims the rule is “outdated” and “disproportionate,” as it continues to campaign for reform…
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People in debt have lost £48.8 million on fees for failed Individual Voluntary Arrangements (IVA), with many steered into an inappropriate debt solution by unscrupulous firms offering bad advice according to research by Citizens Advice. The charity has found two thirds of people were not told a key piece of information before entering into an…
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New figures have revealed that the overwhelming majority (91%) of people are still grappling with money struggles as a result of the cost of living crisis. This is equal to around 63.1 million people feeling the impact of the ongoing financial squeeze, highlighting its continuing toll on UK households, and that many are in need…
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Analysis by Shelter and HSBC has shown that 52% of people paying housing costs are starting the new year worried about housing or financial pressures. The research also found that 67% of people with housing costs have experienced housing pressures over the past year. Of those experiencing housing pressures, 57% said they have lost sleep…
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New research by Legal & General Retail has found that financial concerns are causing delays in divorce proceedings, with 17% (280,000) of recent divorces were postponed due to money worries. Couples across the country stalled their separation because of income concerns (13%), rising living expenses (12%) and the cost of divorce (12%). However, once couples…
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The Resolution Foundation is calling on the Government to offer extra support to working parents, including with childcare and commuting, if it is to fulfil its promise of cutting child poverty. The Resolution Foundation says that he last Labour government reduced relative child poverty significantly – down by the equivalent of 600,000 children between 1998-99…
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New research commissioned by Co-op Legal Services reveals that almost three-fifths (59%) of married people who want to divorce shared that they felt they couldn’t due to their personal finance situations whilst a similar number (60%) feel the same due to having children. Approximately nine in ten(88%) married people believe that unhappily married couples who…
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New research by the Resolution Foundation has highlighted the challenges faced by the 4 million UK households who pay for energy via pre-payment meters (PPMs). High prices and the concentration of energy use in the winter months mean that, on average, households with a PPM will need to spend more than 30 per cent of…
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According to a free money advisory service, nearly 4,000 people searched for debt help over Christmas. Data from the Money Wellness website showed that 3,994 people visited the website on Christmas Eve, Christmas Day, and Boxing Day seeking advice on dealing with unmanageable debt. Almost 2,000 (1,835) people in London searched for support, followed by…
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