Debt Industry News

14thMay2012

DEBT COLLECTION AGENCIES CHASING £58 BILLION OF DEBT

The amount of debt being chased by debt collection agencies has risen to a whopping £58 billion according to the Credit Services Association (CSA), which regulates the UK’s debt collection industry. And £6 billon has been passed to debt collectors in the last six months alone, proof that many more people are finding it harder than ever before to repay their debts. CSA are curren[...]

9thMay2012

RISING HOUSEHOLD BILLS HAMPERING DEBT REPAYMENTS

A survey by Santander has shown that UK energy costs are rising way beyond the rate of inflation – putting even more pressure on people with low disposable incomes who are struggling to repay their debts. The Spanish-owned bank found that whilst household incomes have risen 24% in the last decade, inflation has gone up by 38% and energy bills by a massive 71%.  Last year alone, the ave[...]

30thApr2012

SMALL BUSINESS OWNERS FALLING INTO DEBT TO SAFEGUARD STAFF

The insurance group More Than Business has recently researched the lengths to which small business owners are going to keep their businesses afloat – with startling results. Along with a variety of measures to reduce their outgoings, many small business owners are making serious personal financial sacrifices to protect their staff from pay cuts and redundancies. 35% of business owners surve[...]

24thApr2012

REVEALED: THE TRUE COST OF DIVORCE FOR WOMEN

The TV programme BBC Breakfast has painted a grim picture of the financial consequences faced by thousands of divorcing couples every year – especially women. Aired on 20 April 2012, the programme looks at how more women than men are in debt when they end their marriages, although men tend to owe larger amounts. According to the charity Consumer Credit Counselling Service (CCCS), 66% of wom[...]

23rdApr2012

PENSIONERS STRUGGLING TO COPE WITH RISING DEBT LEVELS

Recent research by retirement income specialist MGM Advantage has revealed the shocking truth about pensioner debt. Across the UK, 43% of retired people are now living in debt and, in total, owe an astounding £96.41 billion. Here’s the lowdown on the debt crisis faced by many of today’s pensioners: On average, a retired person owes £8,180 Around 178,000 pensioners owe [...]

20thApr2012

NEW ENERGY DEAL COULD HELP WOMEN IN DEBT

A new initiative, agreed between the government and the ‘Big Six’ energy suppliers, could lead to lower energy bills for thousands of consumers – freeing up vital disposable income for people struggling to repay their debts. In particular, some of the most vulnerable customer groups such as single parents on low incomes are set to benefit from the deal. The main change is that t[...]