Credit, Collections & Insolvency News
The UK Card Payments Association has releases the latest card expenditure statistics for January 2017. Highlights include: Payment card spending in January 2017 was £57.1 billion, up by £0.5 billion (0.8 per cent) on December pending was up by £5 billion year on year The number of purchases reached a new monthly record of 1.3 billion…
Read moreCapital One Financial Corporation has announced the appointment of Amy Lenander as UK CEO. Lenander will be responsible for the overall strategic direction and general management of the UK credit card portfolio, replacing Chris Newkirk who has recently been appointed President of International and Small Business Card at Capital One. Since joining Capital One as…
Read moreHere is an overview of The Money Charity’s latest statistics for March 2017: Personal debt in the UK The average total debt per household – including mortgages – was £56,310 in January. The revised figure for December was £56,148. Based on January 2017 trends, the UK’s total interest repayments on personal debt over a 12…
Read moreNew figures released today by the Finance & Leasing Association (FLA) show growth of 10% in consumer finance new business in January, compared with the same month in 2016. Credit card and personal loan new business together grew by 11% compared with January 2016, while retail store and online credit new business increased by 1%.…
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The government has published a report on Household debt. The report includes the latest statistics and forecasts for household debt in the UK and international comparisons. There is also a guide explaining how to understand and interpret household debt statistics and a summary of research looking at its effects on the economy. In the report…
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Consumers spent £647 billion using payment cards in 2016, new figures fromThe UK Cards Association show. There were 14.8 billion card transactions in 2016, equivalent to 40.5 million transactions a day or 469 a second, data from The UK Cards Association shows. Three-quarters of retail spending (76.4 per cent) was on payment cards. Retail spending on…
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The British Banking Association’s (BBA) latest high street banking data shows that consumer borrowing through overdrafts, loans and credit cards grew at an annual rate of 6.7%. Other findings include: Gross mortgage borrowing totalled £13.8 billion in January, 6.3% higher than the same period last year Re-mortgaging approvals in January were 15.7% higher than January…
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New research from Intelligent Environments has found an overwhelming majority of University students are feeling the stress created by their financial situation. Three quarters of students polled that receive a maintenance loan feel stressed about the amount of debt they are accumulating while studying, the effects of which are wide reaching. 39% said their debt has…
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The latest figures released by the Finance & Leasing Association (FLA) show growth of 9% in consumer finance new business in 2016. New business in December grew by 2% compared with the same month in 2015. Credit card and personal loan new business together grew by 8% in 2016, while retail store and online credit…
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Ofgem has announced the levels of the prepayment price cap which come into effect this April. The temporary price cap is one of the Competition and Market Authority’s (CMA) remedies resulting from its two year investigation of the energy market. The cap will initially apply to over four million households who prepay for their energy, mostly with…
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Wonga will confirm that it has decided to offload BillPay, one of its most valuable units, to Klarna, a Swedish provider of e-commerce solutions according to Sky News. Klarna operates in Austria, Germany, the Netherlands and Switzerland. The deal will take place this week and will be worth about £60 million. Talks between Wonga and…
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The UK Card Association has it’s latest statistics from November 2016. The key findings include: Payment card spending grew by 1 per cent in November to reach £56.0 billion, driven by a £476 million rise in debit card spending. £13.2 billion was spent online during the month including Black Friday and Cyber Monday – the…
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The bank of mum and dad are still the first port of call for people when they hit financial crisis, according to a report by Christians Against Poverty The Charity asked 1,200 of their debt clients where they went for credit when they found themselves short. The results show friends and family as the top…
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