Credit, Collections & Insolvency News
New statistics published by HMRC today show 293,000 people currently have an open account with the Government’s Help to Save scheme. Due to a widening of eligibility to all working Universal Credit claimants, the number of people opening accounts has risen by around 53% year on year. While this is a welcome rise, up to…
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New research from Standard Life has found that among those aged 55-70 with a defined contribution pension found 90% of those yet to retire want to have their finances as simple and straightforward as possible before retiring, whilst over half of all those aged 55-70 with a DC pension (54%) view retirement as an opportunity to…
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UK inflation accelerates to 3.1% per cent in July, up from 2.6 per cent in June, according to the latest data from the Office for National Statistics (ONS) Motor fuel was the biggest driver of the latest rise, with the energy shock feeding through to household costs. This figure sits above the Bank’s 2% target…
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The Consumer Council for Water (CCW) has reported a significant escalation in customer complaints, with figures reaching a 20-year high. CCW’s latest annual household complaints report reveals that complaints from household customers escalated to the watchdog increased by 84% in 2025-26, up to 15,115 from 8,235 in the previous year. It marks the steepest year-on-year…
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A National Student Money Survey has found that 63% of respondents skip meals at least some of the time to save money. The data showed that surveyed students spend an average of £1,146 per month on living costs (£1,326 per month in London) with on average, Maintenance Loans fall short of spending on living costs by £467…
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Recognise Bank has appointed Ronelle Arbib as its new Chief Revenue & Operations Officer (CROO), as the Bank evolves its leadership structure to support its next phase of growth. In the newly created role, Arbib will bring together Recognise Bank’s Lending and Savings, Operations, Product and Marketing functions, creating clear end-to-end accountability for the Bank’s…
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Nationwide has appointed Richard Walker as its Head of Intermediary Sales. Walker will lead Nationwide’s intermediary sales teams, shaping its engagement with intermediaries and working closely with brokers. He will also lead new-build sales activity across Nationwide. Walker will report to Nationwide’s Director of Mortgage Intermediaries and Partnerships, Damian Thompson. Walker joined Virgin Money in…
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New analysis by Fico has shown that the UK financial services sector is making good strides in preventing fraud, as card fraud losses rose by just 2% year-on-year. This is in stark contrast to many European countries, including Norway, Sweden, Poland, Hungary and Greece, where fraud losses have jumped by 15% or more year-on-year. Across…
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More than 120 organisations, including Energy UK and Age UK, are urging the Government to remove policy levies embedded in energy bills. The organisations have signed a letter to the government warning that high electricity costs risk driving business closures and job losses, and exacerbating cost of living challenges, unless the government acts in the…
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New Ofcom research suggests that many out-of-contract customers who take broadband, landline and pay-TV from the same provider could save over £100 a year by switching, with one in three of these ‘triple play’ customers being out of contract last year. Around three and a half million people have switched their landline or broadband provider…
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The Money and Pensions Service (MaPS) has launched a new debt recovery toolkit, calling on creditors, debt advice agencies and other organisations involved in debt recovery to strengthen their approach to collaboration and help improve outcomes for people in debt. MaPS’ new Supportive debt recovery toolkit replaces ‘Working collaboratively with debt advice agencies: a strategic…
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HM Treasury, the UK’s economics and finance ministry, has recorded more than £62 million in invoices were paid late over the past three years, despite the announcement of the landmark reform to crack down on late payments earlier this year in May. The data obtained via a Freedom of Information request and analysed by the…
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NatWest Group has announced the appointment of Harsh Agarwal as Managing Director (MD) , Customer Experience & Engagement. He joins the Retail Banking leadership team as the bank continues to pursue its growth ambitions. Within Retail Banking, Customer Experience & Engagement brings together propositions, segment strategy and digital experience capabilities. Harsh will lead the function…
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