Credit, Collections & Insolvency News
Latest data from the Insolvency Service for England & Wales has shown that personal insolvencies increased by 7% in 2025 when compared to 2024, rising to 126,240 from 117,958 in 2042 The annual number of IVAs in 2025 was 7% higher than in 2024, but remained lower than the record high annual numbers between 2019…
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Research from Thinkmoney shows that while the festive season may feel like a distant memory, the financial consequences are only just beginning for a significant number of people. Credit card statements, Buy Now Pay Later reminders, overdraft balances and household bills are all landing at once, creating pressure at the start of the year. The…
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The Enforcement Conduct Board (ECB) has published its first Insight Report, which presents new data on enforcement (bailiff) industry practices, drawing on evidence from its complaints handling service and oversight work. The data showed that the enforcement industry is handling over 7 million cases a year, impacting millions of people, with the industry sector collecting…
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The Money Advice Liaison Group (MALG) has announced ithas secured funding from Money & Pensions Service for a new research initiative exploring what safeguards are needed to ensure Generative AI is used safely for debt advice. The research project, entitled ‘Exploring Safe & Effective Self‑Serve in Regulated Debt Advice in the Generative AI Era’, is…
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Age UK has warned that there is no room for complacency when it comes to reducing poverty among our growing older population and calls on the Government to do more to address it. Around one in six, equivalent to 1.9 million, pensioners already live in poverty and the Charity is worried that unless something changes,…
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Latest data from Hargreaves Lansdown has found that households with unsecured debts (like credit cards and loans) spend an average of £259 a month on them. Bank of England showed that the annual growth rate for all consumer credit was 8.1% and for credit cards it was 12.1% – the highest since January 2024. In…
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Free debt and money advice service, Money Wellness, has reported a significant rise in people seeking support over the festive period, highlighting growing financial pressures on households as they head into 2026. Between Christmas Eve and Boxing Day, 6,083 people contacted Money Wellness for advice on managing debt – a 29% increase on last year.…
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Latest Bank of England data has shown that credit card borrowing rose at the fastest annual rate for almost two years in November. Net borrowing through credit cards was £1 billion, up from £700m in October 2025. Net borrowing of consumer credit by individuals increased to £2.1 billion in November from £1.7 billion in October.…
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A KPMG survey has found that two-thirds of people believe the economy is worsening. Despite almost no change in how households feel about their own finances throughout the past year, 2025 saw a steep decline in sentiment towards the economy. Entering 2026, the majority of people (56%) feel secure in their personal finances, a 1%…
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More than half of couples would consider staying together for the sake of the finances, with only 40% of people stating that they would never stay in a bad relationship for financial reasons, according to research by Opinium for Hargreaves Lansdown. The first Monday back to work after Christmas has been dubbed ‘Divorce Day,’ because…
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More than six in ten (62%) parents believe a traditional Christmas is under threat due to the cost of living, with four in ten (40%) having to prioritise essential bills over festive spending, new research from Nationwide reveals. The poll of over 1,000 parents, done in partnership with charity Action for Children, also reveals that 42…
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Credit Connect has published its annual Credit & Collections Technology Awards review. The awards review highlights the unique transparency of the Credit & Collections Technology Awards, with data graphs showcasing the results, accompanied by judges’ comments. The award’s rigorous and transparent process enables each company that enters the awards an opportunity to receive a bespoke…
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Around one in three consumers (30%) in the UK are planning to spend more this Christmas compared with last year, according to new Deloitte research. This is higher than the rest of Europe, where less than a quarter (23%) plan to spend more. In the UK, younger consumers aged 18-34 are nearly twice as likely…
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