Credit, Collections & Insolvency News
The average length of energy debt repayment plans for electricity usage has now surpassed five years, jumping from three years just 12 months ago. According to data from energy providers, obtained via a Freedom of Information (FOI) to the energy regulator Ofgem submitted by Compare the Market, energy bill payers on debt repayment plans for…
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Around 2 million struggling households are receiving lower water bills through water companies’ social tariff schemes to combat rising prices, according to new figures from The Consumer Council for Water (CCW). The report shows that England and Wales provided help to more than 1.96 million customers through social tariff schemes in 2024-25 – a rise…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 22% in September 2025 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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The Treasury has unveiled its Financial Inclusion strategy which will aim to bring a focus on building financial resilience for households most at risk of problem debt. The Financial Inclusion Committee’s mission is to tackle barriers to individuals and households’ ability to access affordable and appropriate financial products and services. The Treasury said its new…
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New data from the Vanquis Financial Wellbeing Index has shown that these people lack the confidence to have children or grow their families, with many taking on second jobs and cutting back on non-essentials to cope financially. The report shows that only 14% of householders earning under £40,000 feel confident in their ability to afford…
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Nearly half of the public (48%) say they would react aggressively or with verbal or physical abuse towards an Enforcement Agent(commonly known as a bailiff), visiting their property despite public sympathy for their role, according to research by the Civil Enforcement Associations (CIVEA). Contrary to this, the findings also show strong public support for the…
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Most people wait until their money worries reach tipping point before asking for help, according to new research by Lowell, finding that nine in ten people delay seeking help until their financial situation becomes critical. The study, conducted by Lowell to mark Talk Money Week, found that only one in ten people seek help at…
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New research commissioned by debt charity StepChange and Equifax has uncovered the profound and often hidden financial challenges faced by neurodivergent individuals. The research, which combined an online survey with in-depth interviews of neurodivergent individuals experiencing debt, found that almost all survey respondents (97%) felt that being neurodivergent presented challenges when it came to managing…
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Financial services firms need to enhance the accessibility and supportiveness of their online content for individuals with financial and mental health concerns, according to a new report from the LSB (Lending Standards Board). The report, based on research commissioned by the LSB from the Money & Mental Health Policy Institute, assesses financial services firms’ websites…
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Ofgem has announced a new plan to tackle the growing crisis of energy debt through a new Debt Relief Scheme (DRS). The regulator has confirmed the first phase of the scheme will write off up to £500 million of historic debt built up during the energy crisis, with total energy debt across the UK now…
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More than a quarter of a million families will receive confirmation this week of their £150 discount on energy bills this winter, as part of the Government’s drive to help families tackle energy affordability. The Prime Minister took the decision last year to expand the Warm Home Discount to a further 2.7 million families, meaning six million households now receive…
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Surviving Economic Abuse (SEA) – the UK charity dedicated to tackling economic abuse, has launched an industry-leading, practical guide to support financial services firms to identify, prevent, and respond to economic abuse – a dangerous form of domestic abuse. The Government has committed to halving violence against women and girls (VAWG) in a decade. A mission…
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Four million people in England and Wales are trapped in a negative budget, meaning they simply don’t have enough money coming in to pay for essentials like food, energy or housing, Citizens Advice is warning. The charity’s latest research shows on top of those in the red, hundreds of thousands more have cut their spending…
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