Credit, Collections & Insolvency News
The past five years of a near-continuous cost of living crisis have caused the real incomes of typical working-age households to fall rather than grow, leaving them £2,900 (7.9 per cent) worse off this year compared to a world of normal inflation, according to new analysis published by the Resolution Foundation. The report Counting the…
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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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With households already stretched by the cost of food, energy and other essentials, new research suggests millions of UK drivers are just one fault away from a financial shock. New research commissioned by subscription lender Creditspring among 1,273 UK drivers found that a quarter (25%) have no money put aside specifically for vehicle emergencies, leaving…
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New analysis from debt advice provider PayPlan has found that the average person seeking debt advice in 2026 is juggling 10 separate unsecured debts (such as credit cards, personal loans and overdrafts) totalling £22,717 – and is left with just £194 a month once essential living costs are met. The findings, drawn from 24,406 people…
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Prime Minister (PM) Andy Burnham’s early cost-of-living measures may have given households some immediate relief. Still, nearly two-thirds of UK consumers (63%) are concerned that the Government’s recently announced policies could ultimately leave their household worse off, according to new research from Novuna Personal Finance. The findings come after the Government decided to remove VAT…
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Prime Minister Andy Burnham has outlined a series of measures to tackle the cost-of-living challenges. The plan includes a ban on fake discounts and making it easier for people to opt out of unwanted subscriptions. Responding to the plans, Dame Clare Moriarty, Chief Executive of Citizens Advice, said “For too long consumers have been tricked…
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New Resolution Foundation analysis has found that income gaps between different regions across Britain have remained resolutely high over the past thirty years, including during the pandemic upheaval and ‘levelling-up’ agenda, highlighting the scale of the challenge facing PM-in-waiting Andy Burnham as he seeks to tackle geographic inequality. The research shows that before-housing-cost income gaps…
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Two-thirds (67%) of credit users agree that cost-of-living pressures have increased the use of credit in everyday spending, with nearly six million customers revealing they are doing so with greater intentionality than ever before, according to research by Zilch. The finding comes from the Credit Confidence Study, Zilch’s new study of over 10,000 UK adults and over 6,600 users…
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New consumer survey and spending data from the Vanquis Financial Wellbeing Index has revealed that one in three workers earning under £40,000 are creating additional income streams to make ends meet. At the same time, households continue saving less than £3 in every £100 earned. Despite widespread efforts to manage money carefully, many households simply…
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The British Retail Consortium (BRC) is calling on the government to act on soaring domestic policy costs, as new polling shows four in five people (80%) fear the Middle East conflict will push up food prices. Retailers are already absorbing significant additional costs from the conflict. Rising gas and electricity prices are pushing up production,…
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Three million households are being forced to skip meals and cut family visits, according to new research from Which? Which?’s latest Consumer Insight Tracker shows that households across the country are having to take more and more drastic measures to mitigate rising costs. In the month to 10th April, analysis found consumer confidence fell to…
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Council tax bills across England and Wales are expected to rise by an average of 5% as local authority finances are further stretched. Debt charity, StepChange says this will exacerbate existing cost-of-living pressures as household budgets are forced to stretch further. The debt charity is warning that the expected rise in council tax rates will…
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New research has revealed that 88% of the UK is struggling to cope with high living costs, equal to an estimated 48 million people nationwide. The survey found that over two in five (45%) indicated that the country’s high living costs are impacting them even more than last year, showing that things have been getting…
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