Credit, Collections & Insolvency News
Latest UK Finance card spending data has found that outstanding balances on credit card accounts have grown by 5.6 per cent over the twelve months to February and 48.8 per cent of outstanding balances incurred interest compared to 50 per cent in February 2024. There were 334.3 million credit card transactions in February, 1.4 per…
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Latest Bank of England data has highlighted that mortgage defaults and missed payments on credit cards and loans both surged at the end of the year, and are expected to keep rising. Missed credit card and loan payments, as a percentage of balances, are higher than they have been for at least five years with…
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New analytics from Fico has found that the percentage of credit card accounts with one and two months missed payments has increased month-on-month with it appearing that repayments remain a priority for credit card holders, suggesting that there will be greater reliance on credit over the coming months as the cost-of-living crisis deepens due to…
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