Five million people are in a negative budget

8th February 2024 Arrears and Recoveries | #arrears

New research from Citizens Advice has found that five million people are in a negative budget, with the charity warns a living standards catastrophe is becoming the new normal ahead of the general election. The charity’s new analysis shows that the number of people in the red has jumped from 3.25 million since the start…

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One in four people behind on at least one bill

One in four people in the UK (27%) are currently behind on at least one bill with Citizens Advice warning the situation only looks set to deteriorate in the coming months. The research estimates household debt, covering things like essential bills and benefit repayments sits at £22 billion. But the charity warns the true figure…

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Number of households missing essential payments is back to winter levels

The number of households missing essential payments has risen to 2.4 million, in line with the high levels seen last winter according to analysis by Which? Which’s July consumer insight tracker found that 2.4 million households missed or defaulted on an essential payment – such as a housing, bill, loan or credit card payment –…

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5.5 million people behind on energy bills

14th June 2023 Arrears and Recoveries | #arrears

An estimated 5.5 million people (one in ten adults) were behind on their energy bills in April, an increase of 2.1 million compared to March 2022 according to new research from the Money Advice Trust, the charity that runs National Debtline and Business Debtline.   The charity’s Under Pressure research, based on an Opinium survey…

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Mortgage arrears increase

Data from UK Finance shows that the number of households falling into arrears increased in Quarter 1 of 2023. The figures showed that were 76,630 homeowner mortgages in arrears of 2.5% or more of the outstanding balance in the first quarter of 2023  2% greater than in the previous quarter. The figures also showed that…

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700,000 households estimated to have missed rent or mortgage payments in April

An estimated 700,000 households missed a housing payment in the last month, new Which? research suggests, as the consumer champion calls on essential businesses to do more to support people through the cost of living crisis. Missed housing payments were particularly high among renters – with one in 20 (5.2%) renters surveyed missing a payment…

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Consumers expecting to miss payments in the next 12 months

16th November 2022 Arrears and Recoveries | #arrears

Intrum’s annual European Consumer Payment Report has shown that inflation is a major concern for consumers. Consumer confidence has plummeted, and more than a third are struggling to make ends meet. Surging inflation has created a wave of financial anxiety as households struggle to meet their commitments. Two out of every five believe they will…

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One in five adults behind on one or more household bill

21st September 2022 Arrears and Recoveries | #arrears

One-fifth of UK adults are already behind on one or more household bill, and one in nine have gone without food as a result of rising costs, according to new research from the Money Advice Trust. While the government’s Energy Price Guarantee removes the risk of energy bills climbing even further, the charity, which runs…

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Half of older rural dwellers concerned about paying bills

More than half of older people living in rural areas (51%) are now concerned about paying their bills, according to research from insurer NFU Mutual. The figures have shot up in the past six months from 22%, as rising inflation impacts elderly rural dwellers. The number of people in rural communities concerned about their pension…

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Average arrears on essential bills increases by 29% in Scotland

New figures from StepChange Debt Charity Scotland have indicated that client average arrears on essential bills have increasing by 29% from £2,302 in 2020 to £2,961 in 2021. The charity says that it helped over 28,600 clients with debt advice, and 8,433 went through a full debt advice process, with a growing proportion of clients…

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One in seven adults is behind on at least one household bill

21st March 2022 Arrears and Recoveries | #arrears

One in seven (an estimated 7.9 million) UK adults is behind on at least one household bill and one in eight (an estimated 6.2 million) have gone without heating, water or electricity in the last three months as a result of rising costs, according to new research from the Money Advice Trust. The charity, which…

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2.5 million households missed payments in January

28th January 2022 Arrears and Recoveries | #arrears

New research by Which? has found that around 2.5 million households missed payments in January. According to the latest findings from Which?’s consumer insight tracker, an estimated 2.5 million households missed or defaulted on at least one mortgage, rent, loan, credit card or bill in January 2022. This marks a significant increase on December 2021,…

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Households using savings to fund soaring cost of living

10th January 2022 Arrears and Recoveries | #arrears

New research by the Officer for National Statistics (ONS) has found that one in four people whose cost of living has increased are using their savings to counter rising energy and fuel prices. The research also shows that two in three people surveyed said their cost of living has increased in the last month. Fuel…

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