Credit, Collections & Insolvency News
The IoD Directors’ Economic Confidence Index, which measures business leader optimism over prospects for the UK economy, fell to -54 in September, from -49 in August 2026. In contrast, business leaders became significantly more optimistic about the prospects for their own organisations, with confidence rising to +10, from -5 in August. The data showed that…
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Ahead of household energy bills rising by 4% from 1st October, Cornwall Insight have released new forecasts which suggest a bigger increase is on the way in the new year. The price cap is expected to rise by 16% compared to October, reaching £1,999 a year for a typical dual-fuel household¹ in January 2027, an…
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The UK economy expanded by 0.5% in the second quarter, an upgrade from the initial 0.4% estimate and following 0.6% growth in Q1, official figures from the Office for National Statistics show. Annual growth was also revised higher to 1.4%, although the estimate for full-year 2025 growth was reduced to 1.2%. Consumers continued spending during…
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The latest Bank of England Money & Credit statistics for August find that mortgage borrowing increased to £4.4 billion in August, from £4.1 billion in July, but remained below the previous 6-month average of £5.2 billion. Net mortgage approvals for house purchases – an indicator of future borrowing – decreased to 54,900 in August, down…
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Prime Minster, Andy Burnham has announced plans to reform the state pension triple lock from 2030, with the changes intended to generate savings to help fund a proposed national care service in England. The Prime Minister said the triple lock – which sees pensions rise each year by whichever is highest of inflation, average earnings…
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Business confidence fell 12 points to 41% in September, the lowest level since April 2025, according to the Lloyds Business Barometer. This decline follows August’s reading of 53%, the second highest recorded this year, and buoyant results since May. While confidence remained well above the survey’s long-term average of 30%, it was six points below…
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The Insolvency Service says it can drive even greater impact by helping people and businesses spot problems and find the right support earlier, and resolve them faster, before their situation escalates. The agency’s new five-year strategy outlines a marked change in how it will work in future, making sure it spots risk sooner, guides people…
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Consumer credit borrowing grew to £2.5 billion in August, up from £2.1 billion in July and above the previous 6-month average of £1.9 billion. Within this, credit card borrowing was £1.2 billion in August (up from £0.9 billion in July) and borrowing through other forms of consumer credit (such as car dealership finance and personal…
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Diesel prices have reached a record 199.18p per litre, adding further cost pressure for businesses that depend on vehicles, deliveries, and logistics. The UK imports around 55% of its diesel, with roughly a third of those imports coming from the USA, while restrictions on US diesel exports create another potential supply risk. The market briefing…
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The Credit Services Association (CSA), the trade body representing the UK debt purchasing and debt collection industry, has published new guidance to address widespread and harmful misinformation about Deeds of Assignment (DOA) and Data Subject Access Requests (DSARs). The guidance follows discussions with the Information Commissioner’s Office (ICO). The new guidance is available on the…
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Collections and recoveries technology, AI and data specialist Arum has announced Jamie Waller as Chief Executive Officer and Executive Chair. Waller brings more than three decades of experience founding, building and scaling businesses across the collections and recoveries industry globally, having previously founded the collections business CDER Group and FinTech organisation Hito. Under Waller, Arum…
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The Insolvency Service is encouraging anyone who paid for a debt relief order (DRO) but did not submit their application to make contact for a refund. Thousands of people can claim money back after the £90 DRO application fee was scrapped The Insolvency Service has written to everyone affected, but some customer contact details may…
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A new report from Go.Compare Car Insurance has found that the cost of getting on the road in 2026, including the cost of a first car, has fallen slightly (1%), from £7,040 in 2025 to £6,969. In 2024, the report revealed that the cost of getting on the road had hit an all-time high of £7,100.…
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