Credit, Collections & Insolvency News
Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency figures rose slightly in July when compared to last month and to July 2024. Personal insolvencies increased by 1.8% in July 2025 to a total of 10,515 compared to June 2025’s total of 10,328, and slightly increased by 0.3%…
Read more
Latest figures from the Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland fell slightly in July 2025 The data showed that there were 116 company insolvencies registered in Scotland, slightly lower than the number in July 2024. The total number of business insolvencies comprised of 68 CVLs, 43 compulsory liquidations, 4 administrations…
Read more
Latest monthly statistics from the Insolvency Service show that personal insolvencies increased slightly in Northern Ireland, whilst business insolvencies fell in July 2025. The data showed that there were 153 personal insolvencies. This was 1% higher than in July 2024. The insolvencies comprised of 114 IVAs, 9 bankruptcies and 30 DROs. Business insolvency data showed…
Read more
Cornwall Insight has published its final October price cap forecast, predicting a 1% increase in energy costs. The forecast for the October–December 2025 predicts the cap will rise to £1,737 a year for a typical dual fuel household2 this winter. This would represent an increase of £17 and 1% from the current price cap which…
Read more
Latest Insolvency Service data in July 2025 has shown that the construction industry experienced the highest number of insolvencies in the 12 months to June 2025 at 3,984, making up 17% of all industry cases. Kelly Boorman, National Head of Construction at RSM UK, said “The latest insolvency figures show that the construction industry continues…
Read more
Accountants and financial advisers are increasingly seeing clients struggling to pay tax bills, with the average bill they are struggling to pay coming in at £120,000, according to research from Premium Credit. The study found almost all (94%) accountants and financial advisers who advise on tax have seen a rise in clients struggling to pay…
Read more
A new study by Go Compare has suggested that the announcement of the Renters’ Rights Bill may have triggered a surge in rent hikes across England, with more than half of tenants (53%) experiencing a rent increase since September last year, when the bill was first introduced to Parliament. In comparison, just 38% saw a…
Read more
Consumer confidence in the future UK economy has plummeted over the last year according to Which?’s Consumer Insight Tracker. According to the tracker, consumer confidence has tumbled by 31 points over the last year, from an average of -9 between May and July 2024 to an average of -40 between May and July 2025. This…
Read more
Latest data from UK Finance has shown that credit card spending rises to £21.8bn, an increase of 1.8 per cent when compared to May 2024. There were 394.4 million credit card transactions in May, 3.1 per cent more than in May 2024. Outstanding balances on credit card accounts have grown by 6.4 per cent over…
Read more
New research from Creditspring has found that over half (53%) of people report increased spending during summer, more than at any other time of year, Based on the UK population of 69.5 million, this equates to approximately 36.8 million people increasing their spending in the summer months. That figure is even higher among younger adults,…
Read more
Latest Office National Statistics (ONS) data has shown that private renters typically spend 36.3%, or £1,232 in monthly rent, of their income on an average-priced let home in England. This is higher than Wales and Northern Ireland, where 25.9%, or £702, and 25.3%, or £751, of pay was spent on rent last year, respectively, according to the…
Read more
Moore Kingston Smith has announced the appointment of Melanie Reed as Head of Advisory, a new role within its senior leadership team. The new role will further enhance the client experience through Melanie’s focus on consistently delivering streamlined, tailored, joined-up professional advice. Reed will lead the integration and cohesive delivery of the firm’s diverse advisory…
Read more
Three connected debt collection companies, which kept more than £50,000 in client funds they collected on their behalf, have been shut down. Sunderland-based EDC Group NE Ltd, UK EDC Ltd and UK TCF Limited falsely presented themselves as professional agencies with decades of experience while taking money from both clients and their debtors. The companies…
Read more