Credit, Collections & Insolvency News
Oakbrook has announed a new partnership with payments automation platform Modulr. The partnership will enable the lender to expand its repayment choices for customers and strengthening its technology-enabled servicing platform with the launch of Variable Recurring Payments (VRPs). The introduction of VRPs gives customers an additional way to manage their loan account repayments alongside Direct…
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Alternative SME finance provider, ThinCats, has announced the appointment of Dan Houman as Senior Director. In the new role, Houman will work with SMEs across Yorkshire and the North East to help them access the funding they need to grow. Working closely with the existing regional team, he will support businesses in securing bespoke, flexible…
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New research from StepChange has shown that one in two people (51%) have experienced problem debt, with 44% of them telling no one about their financial struggles. The debt charity is urging people to talk more openly about debt to help break down stigma and encourage those struggling to seek free, confidential advice sooner. New…
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New research by Confused.com has found that almost half (48%) of people admit to lying to their partner about their financial situation in the past. With the cost of living crisis putting financial pressure on people it’s not surprising that money can sometimes cause issues in relationships. Over one in two (58%) partners argue about…
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Debt charity, StepChange, has warned that high levels of arrears across essential bills have become the ‘new normal’ for many households. Those on the lowest incomes are being hit hardest, often forced to juggle everyday living costs while trying to repay historic debts. The report reveals that in 2025, average household arrears are up 11%…
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The economy showed no growth in January, according to the Office for National Statistics (ONS). The ongoing Middle East crisis has driven up energy prices, raising inflation concerns and diminishing hopes for an interest rate cut from the Bank of England. Chancellor Rachel Reeves is expected to outline Labour’s economic strategy amid calls for an…
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UK Finance’s latest Business Finance Review shows that gross business lending by the high street banks increased from £16.1 billion to £17.5 billion in 2025 compared to 2024. In the final quarter of 2025, gross lending was £4.6 billion, the eighth consecutive quarter of year-on-year growth. The increase in lending in 2025 was strongest amongst…
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A new analysis of its credit card data for 2025 by global analytics software specialist FICO has found a fundamental shift in market dynamics from traditional cyclical patterns to clearer management of affordability challenges. The year was characterised by consumers struggling to manage existing debt levels, with average balances reaching record highs while payment rates fell. The…
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Fraud prevention service, Cifas has revealed that more than 444,000 cases were recorded to the National Fraud Database (NFD) in 2025, the highest number ever recorded in a single year, and a 6% increase on 2024. The scale of fraud continues to accelerate, with Cifas members recording more than 1,200 cases every day and preventing…
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New research from Compare the Market suggests there is still some uncertainty around how credit cards factor into mortgage applications, with 21% of prospective first-time buyers believing they need to be completely debt-free to be approved for a mortgage1 The survey findings indicate that around one in ten prospective first-time buyers believe they must never…
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The Financial Conduct Authority (FCA) has published a review into the second charge mortgage market, finding that weaknesses in some firms’ practices could put borrowers, particularly those consolidating debt, at increased risk of financial harm. Second charge mortgages are often used by customers with high existing levels of debt and low financial resilience. The FCA’s…
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Lantern Group has announced that it has reached an agreement to acquire specialist debt recovery law firm Ascent from Irwin Mitchell, subject to regulatory approval. The deal expands Lantern Group’s portfolio of regulated credit and recoveries businesses, which includes Lantern and Sonex. Ascent is recognised for its experience across collections and recoveries, litigation, enforcement, field…
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A man has been jailed for running an illegal sale-and-rent-back scheme targeting struggling homeowners. Rajinder Gill and his accomplices were sentenced for their involvement in a sale-and-rent-back scheme. Gill has been sentenced to two and a half years in prison for running a sale-and-rent-back scheme without being authorised and illegally providing credit agreements and mortgages.…
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