Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 3% in April 2026 compared with the same month in 2025. In the first four months of 2026, new business in this market was 5% higher than in the same period in 2025. The credit card and…
Read more
New data from Updraft has suggested that the average person in the UK has £1,400 in credit card debt in 2026, and will pay £342 on interest this year alone – yet 82% haven’t consolidated their debt. The new figures, based on an analysis of Bank of England and ONS data, show that the average…
Read more
Latest data from UK Finance has shown that 48.% of credit card balances incurred interest in March 2026 compared to 48.6 per cent in March 2025. Credit card transactions increased year-on-year by 8.6%, and the total spend rose to £23.8 billion. There were 419 million credit card transactions in March, 8.6 per cent more than…
Read more
Brits are projected to splash out an estimated £6.6 billion on spontaneous spending while on holiday abroad this year as they look to make the most of their overseas breaks, research from savings app Spring has revealed. A survey of 2,000 Brits found that 79% of holidaymakers admit to spending extra on spontaneous purchases while…
Read more
Latest Bank of England data has shown that mortgage approvals reached a 15-month high of 65,900 in April, a 3% increase from March. Net borrowing of mortgage debt by individuals fell to £4.4 billion in April, from £6.8 billion in March, below the previous 6-month average of £5.1 billion. Approvals for remortgaging were broadly unchanged…
Read more
The winners of the 2026 Credit & Collection Industry Awards have been announced following a live in-person event yesterday (Thursday 21st May) at Eastwood Hall, Nottingham. There were 19 winners (three of which were partnership wins) from the awards categories, which were presented by awards compere Eshaan Akbar. The Credit & Collections Industry Awards were…
Read more
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 9% in March 2026 compared with the same month in 2025. In Q1 2026, new business in this market was 6% higher than in Q1 2025. The credit card and personal loans sectors together reported new business…
Read more
Latest data from the Bank of England has shown that consumer credit growth climbing to 8.9%, exceeding the 8.6% recorded in February. Within this total, the annual growth rate for credit card borrowing increased to 12.3% from 12.1% a month earlier. Consumer deposits with banks and building societies increased by £5.5 billion in March. The…
Read more
The Financial Conduct Authority (FCA) has published a review into whether Annual Percentage Rates (APRs) help consumers understand borrowing costs, with the regulator seeking views on whether it should change how these are communicated in credit advertising. APRs indicate the yearly cost of borrowing, including interest and fees. A representative APR means at least half…
Read more
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 5% in February 2026 compared with the same month in 2025. In the first two months of 2026, new business in this market was 4% higher than in the same period in 2025. The credit card and…
Read more
Latest Bank of England data has shown that net borrowing of mortgage debt by individuals increased to £4.8 billion in February, from £4.2 billion in January. The rise in February is also above the previous six-month average of £4.5 billion. The data also shows that net mortgage approvals for house purchases increased to 62,600 in…
Read more
UK Finance has launched a new Accessible Cards Code of Practice, designed to help customers with accessibility needs or impaired vision use payment cards in-store and online. The Code means the UK is the first country in the world to have national common accessibility guidelines for flat printed payment cards. The new guidelines cover physical…
Read more
Latest FICO analysis of credit card data for January 2026 shows a post-Christmas reduction in spending as customers prioritised payments after the festive break. However, with spending lower year-on-year and increases in missed payments, the financial pressures that were a feature of the UK economy for the majority of 2025 have continued into the new…
Read more