Lowell and Money Wellness research finds two thirds of social media debt advice is misleading
A joint study from credit management company Lowell and free debt advice provider Money Wellness has found that almost two-thirds (64.22%) of debt advice circulating on TikTok, Facebook, and Reddit is misleading, while an overwhelming 98.27% is unreliable. With over 10.1 million people in the UK currently over-indebted (FCA Credit & Loans survey), many turn […]
Read MoreFCA consults on motor finance compensation scheme
The Financial Conduct Authority (FCA) is consulting on an industry-wide scheme to compensate motor finance customers who were treated unfairly between 2007 and 2024. Its extensive review, covering data from 32m agreements, found widespread failures to adequately disclose the existence and nature of commission and contractual ties between lenders and brokers. On 1 August 2025, […]
Read MoreEnforcement Conduct Board Vulnerability and Ability to Pay Standards Consultation
Enforcement Conduct Board (ECB), the independent oversight body for the debt enforcement sector in England and Wales, has opened a consultation on proposed new Standards addressing vulnerability and ability to pay. At their core, these draft Standards aim to do two things: improve the way that enforcement firms and agents identify and respond to vulnerable […]
Read MoreResolution Foundation report finds that household energy debt has tripled in the last decade
A new report from Resolution Foundation finds that the number of customers falling behind on their electricity bills with no repayment plan in place has more than tripled from 300,000 in 2012 to over one million at the end of 2024, with the number of customers falling behind on their gas bill also tripling from […]
Read MoreUK Consumer Lending Payment Trends report published
A new report informed by proprietary consumer research and backed by Acquired.com on UK Consumer Lending Payment Trends has been published. The report finds that: 68% of prime borrowers had enough money in another account at the time of a missed payment, 75% of near-prime borrowers are managing two or more loans simultaneously, and One-third […]
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