Credit, Collections & Insolvency News
Businesses reported a fall in confidence this month, declining three points to 25%, according to the latest Lloyds Bank Business Barometer. The research puts confidence below the long-term average (28%) for the first time since March 2021 when the economy emerged from the second Covid19 wave. Despite the more challenging outlook, businesses’ assessment of their…
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Latest figures fromcomparethemarket.com’s Household Financial Confidence Tracker, has found that nearly half (46%) of households with children at home, the equivalent of 3.8 million families, struggled to pay their bills over the last month, reflecting the worsening conditions for millions of families across the UK as the cost-of-living crisis deepens. Financial anxiety is highest amongst…
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New research from Aviva suggests there is a growing tendency among older consumers to use the wealth held in their property to help younger generations become first time buyers. The research found that homeowners, particularly those who are mortgage-free, are planning to use investments, as well as their property, to help other family members move…
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Latest figures from the Registry Trust has shown a significant increase in the number and value of monetary judgments (including CCJs) registered against consumers and business in England & Wales compared to the same period last year. The total number of monetary judgments registered in England & Wales rose from 207,976 in Q2 2021 to…
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New figures from the Registry Trust have revealed that the number of decrees and the value of debt registered in Scotland have seen an increase in Q2 2022 as compared to the same period last year. The total number of decrees increased from 4,356 in Q2 2021 to 5,351 in Q2 2022, an increase of…
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New figures from the Registry Trust have revealed that the number of judgments registered in Northern Ireland saw the number of judgments and the value of debt increase in Q2 2022 when compared to the same period last year. The number of judgments rose from 823 in Q2 2021 to 1,113 in Q2 2022, an…
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Small business owners are concerned about the possibility of a recession, according to iwoca’s latest quarterly SME Expert Index. With both the cost of living and of doing business climbing, over three quarters of brokers surveyed (77%) say their small business clients are worried about the possibility of a recession. By contrast, fewer than 7%…
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One-in-seven customers are still paying the loyalty penalty across the broadband, mobile and mortgages markets in the midst of a cost-of-living crisis according to latest Citizens Advice research, The charity found two-fifths of people (41%) who are paying the loyalty penalty have struggled to sleep due to their finances. Three in 10 (28%) have already…
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890,000 young people aged 18-24 have fallen victim to identity fraud according to research by GBG. The research found that 18% of young adults in the UK, almost a fifth of 18-24-year-olds said they have personally been a victim of identity fraud in the last 12 months compared to just 3% of adults aged 55…
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Debt charity says that June saw the rising cost of living being the most commonly cited reason for debt, with nearly one in five (18%) alluding to it as an underlying cause of their financial problems. The pressure arising from the cost of living is being widely felt but is most acute among those on…
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Taxpayers have been left to foot a £421 million bill to cover Covid debts, after one in 12 businesses defaulted on state-backed emergency loans according to latest data from the Department for Business, Energy and Industrial Strategy. The data show that around 8% of 1.6m borrowers – roughly 130,000 – failed to repay their debts…
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New Industry analysis by Landlord Action has revealed that the number of rental property repossessions carried out on behalf of landlords across England and Wales has increased by one thousand four hundred and eighty seven per cent annually, following the end of the tenant eviction ban implemented to protect the nation’s renters during the pandemic.…
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The Consumer Council for Water (CCW) has called for renewed urgency in putting in place a new universal water affordability scheme to provide fair, consistent and sustainable financial help for the 1.5 million households across England and Wales living in water poverty. the call follows a report which has revealed a steep rise among the…
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