Credit, Collections & Insolvency News
New research from financial wellbeing business Loqboxr has revealed a major shift in how families are approaching Christmas this year, with four in ten planning to buy fewer gifts and a quarter saying the season has become ‘too materialistic.’ Rather than these changes taking the shine off the season, this shift shows families are choosing…
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The package of measures announced in the Government’s Child Poverty Strategy – including the abolition of the two-child limit on benefit support and an expanded Free School Meals offer – will result in child poverty rates falling in 2026-27, the first time in nine years (outside the pandemic), according to new analysis by the Resolution…
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The Government has announced a new Child Poverty Strategy, which aims to lift 550,000 children out of poverty by 2030. The Government says that following the reversal of the two-child limit, the strategy tackles the root causes of poverty by cutting the cost of essentials, boosting family incomes, and improving local services so every child…
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As people across the country battle an unrelenting living standards crisis, Citizens Advice has revealed reforming bill support across essential markets, including energy and water, could save eligible households a staggering £950 a year. That’s the equivalent of £79 a month, which amounts to an income boost of almost 6% for low-income households. Citizens Advice’s…
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Only 14% of households are worried about debt, but fewer than one in five (19%) are classed as resilient when it comes to their use of it, according to research by the HL Savings & Resilience Barometer. The data also showed that across the board, almost half (46%) of debt is used for consumption rather…
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Nearly one in three UK households are worried about paying their winter bills, according to new figures from Ocean Finance. With energy costs rising faster than many can cope with, families face a tough few months ahead whilst Ofgem warns that bills could rise by £75 next spring. The survey also revealed that 33% of…
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New YouGov polling by StepChange Debt Charity reveals more than one in four adults (27%), equivalent to around 14.3 million people, will struggle to afford Christmas this year, which rises to almost one in three (31%) among parents with children at home. With the cost of living still stubbornly high and millions struggling to make…
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Ofcom has fined Virgin Media £23.8 million, after it disconnected telecare customers during its programme to migrate customers to digital landlines. Landline phone calls have traditionally been delivered over a copper-based network known as the public switched telephone network (PSTN). This network is beyond its intended lifespan and is becoming increasingly unreliable, so it needs…
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With possible income tax and threshold reforms expected in the Budget, new data from Howden Life and Health reveal families are already under pressure, with millions forced to borrow from friends and family, take out loans, and even cancel insurance policies to cover sudden costs. As part of its Health Gap report, Howden Life and Health surveyed 3,000…
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One in ten (8%) of people have no emergency savings at all, rising to one in ten women (10%) according to Hargreaves Lansdown (HL) Savings and Resilience Barometer. The research found that 11% of the squeezed middle (35-54), 12% of single people and 17% of renters do not have savings, whilst 11% have £100 or…
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The winners of the 2025 Credit & Collection Technology Awards have been announced following a live in-person event yesterday (Thursday 20th November) at the Midland Hotel in Manchester. The awards are the flagship event for innovative technological professionals working in credit and collections and the eighth annual event honoured the UK’s technological innovators, celebrating outstanding…
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New Skipton Building Society research has revealed that 42% of over 65s are worried about this coming winter, with the cost of heating and energy bills topping their list of concerns (86 per cent), followed by the overall cost of living (76 per cent) and homes not being warm enough (58 per cent). To shine…
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A new report from the Credit Services Association (CSA), the UK trade association for debt collection and purchase, is calling on the Government and Information Commissioner to turn the tables on online ‘influencers’ who give inaccurate advice to unsuspecting consumers, including those already facing significant problem debt. The new report has found that one of…
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