Credit, Collections & Insolvency News
Money Advice Trust has announced that it has published the second edition of its Help! Support Needs Starter Guide – a resource that brings together practical support needs for disabled and vulnerable consumers across essential services. Following the success of the first edition released in February, this updated guide describes over 120 support needs already…
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Up to 1.9 million adults, equivalent to 4% of the population, are estimated to have used unlicensed money lenders or loan sharks in the past 12 months, according to an IPSOS UK survey commissioned by Fair4All Finance. The cost of living crisis has exacerbated this situation for many, reducing households’ headroom to absorb unexpected financial…
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Nearly half of the public (48%) say they would react aggressively or with verbal or physical abuse towards an Enforcement Agent(commonly known as a bailiff), visiting their property despite public sympathy for their role, according to research by the Civil Enforcement Associations (CIVEA). Contrary to this, the findings also show strong public support for the…
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New research from financial wellbeing provider Money Wellness found that 22% of higher earners (those earning between £35,000-£54,999) feel uncomfortable talking about money, almost double the 12% of lower earners (earning £17,000 – £34,999) who feel the same. Despite the discomfort, financial struggles affect all kinds of households. Nearly one in five (18%) say they’re scarcely…
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Most people wait until their money worries reach tipping point before asking for help, according to new research by Lowell, finding that nine in ten people delay seeking help until their financial situation becomes critical. The study, conducted by Lowell to mark Talk Money Week, found that only one in ten people seek help at…
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New research commissioned by debt charity StepChange and Equifax has uncovered the profound and often hidden financial challenges faced by neurodivergent individuals. The research, which combined an online survey with in-depth interviews of neurodivergent individuals experiencing debt, found that almost all survey respondents (97%) felt that being neurodivergent presented challenges when it came to managing…
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Simply Asset Finance has joined the National Association of Commercial Finance Brokers (NACFB) as a Patron lender, further strengthening its commitment to supporting professional brokers across the UK’s commercial finance sector with flexible, tailored SME lending products. Mike Randall, CEO of Simply Asset Finance said “Brokers are the backbone of SME lending in the UK. Their…
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A coalition of businesses and charities have outlined a series of demands for urgent reform to unlock home ownership for millions of renters. Following a summit in London on 29th October, the group have sent a joint letter to the Chancellor ahead of the Autumn Budget, urging reforms that would ensure renters’ payment history is…
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Lloyds Banking Group research has shown that more than 28 million (56% of UK population) adults are now turning to Artificial Intelligence (AI) to help manage their money. ChatGPT is referenced as the most popular platform, used by six out of ten. With more than half of people who use AI employing it for budgeting,…
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The latest IoD Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, remained at historic low levels of -73 in October 2025, little changed from -74 in September, which was the lowest reading of the Index on record. Business leader’ confidence in their own organisations crept up to ±0,…
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Latest data has shown that complaints to the Financial Ombudsman Service (FOS) fell to 46,300 in the quarter ending September 2025, down from 73,700 a year earlier. The decline follows the introduction of charges for professional representatives referring cases. FOS recorded 305,726 complaints for the year ending 31st March, with this driven by grievances over…
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Thousands of small businesses could close over the next year due to rising tax bills and falling revenues, according to an Federation of Small Businesses (FSB). survey. Thirty per cent of small firms expect to downsize or shut, while 55% report lower incomes. FSB’s Small Business Index (SBI) for Q3 shows overwhelming pessimism, with the…
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Latest Red Flag Alert data has revealed a 78% year-on-year increase in ‘critical’ financial distress as higher taxes on businesses, economic uncertainty and inflation weighed on the UK economy. As of 30th September 2025, 55,530 companies were in ‘critical’ financial distress, a 12.6% rise on the previous quarter (Q2 2025: 49,309). Notably, this rise in ‘critical’…
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