In Focus Consumer Credit
to-24 year olds think their personal finances will improve in the next six months. l 55-to-64 year olds and 35 to 44 year olds are the most pessimistic about their future finances: 20% and 19% respectively think their finances will worsen in this time. l 6% of British adults are only paying the interest off on their credit card and not reducing the original debt itself, similar to the 7% in October 2018. l 7% of British adults have borrowed £100 or more from friends or family in the last month, similar to the 6% in October 2018. l 3% of British adults have missed a debt repayment deadline in the past month, similar to the 4% in October 2018.
Struggles to payday l 40% of British adults say they often, or sometimes, struggle to make it to payday, up from 37% in October 2018. l Struggles to payday are most common in Wales (49%), followed by the North West
The most common cause for struggling to payday is the cost of food, cited by 52% of those who often or sometimes struggle to make it to payday
and Scotland (both 47%), and Yorkshire & Humberside (43%). l Renters (56%) are significantly more likely than homeowners (32%) to say they often or sometimes struggle to payday. l The most common cause for struggling to payday is the cost of food, cited by 52% of those who often or sometimes struggle to make it to payday, followed by: household energy costs (42%); fuel or transport costs (35%); credit-card repayments (24%); paying for rent (22%); and spending on going out or non-
essentials, also 22%. Mortgage repayments are cited by only 10% of British adults who often or sometimes struggle to payday, while recent cuts to benefit payments were cited by 8%. Women were more likely than men to cite the cost of food as a reason for struggling to payday, 56% of women compared with 48% of men, with a similar margin separating women and men who cited household energy costs (46% of women compared with 37% of men), and fuel or transport costs (38% of women compared with 31% of men). l Around a third (36%) of adults living in London identify rent as the reason why they struggle financially leading up to payday, a higher proportion than in any other region. l The majority of British adults aged over 55, who often or sometimes struggle to make it to payday, say they struggle financially as a result of household energy costs, compared to a third of 18-to-34 year olds who say the same (56% compared with 32% respectively). CCR
At Collect My Debt Limited we are able to collect any business-to-business related debt. Our main focus is to collect debts in full or put a sensible payment arrangement in place within 7 days of receiving your instruction. Collect My Debt do not charge any administration or up-front costs for implementing this type of service. There are sliding scales of commissions deducted from any monies collected:
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of business-to-business debts are recovered within
days of instruction
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of business-to-business debts are
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of business-to-business debts are
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Available 24/7 Across 365 Days Tel: 0800 612 5161 Email:
info@collectmydebt.co.uk Web:
www.collectmydebt.co.uk
May 2019
www.CCRMagazine.com
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