Debt Matters

Consumer borrowing in Britain accelerated sharply in August 2026, with net unsecured lending rising by £2.464 billion in a single month. That was well above economists’ forecast of around £1.9 billion and marked the biggest monthly increase since records began in 1993. Stronger borrowing can reflect confidence and a willingness to spend, but it can also suggest that some households are using credi...

When someone is struggling to pay, the advice they receive can shape what happens next. In this episode of Debt Matters, we discuss the Financial Conduct Authority's (FCA) new warning about poor or untrustworthy debt advice and the signs that a proposed solution may not fit someone's circumstances. What has the FCA warned about? Free, impartial debt advice is available to everyone, the FCA says. Y...

Thames Water’s financial crisis has entered a new phase after Parliament’s Environment, Food and Rural Affairs Committee called on the UK Government to reject a rescue proposal from a creditor consortium and consider placing the company into the Special Administration Regime. Around £20 billion of debt Thames Water serves around 16 million customers and is the UK’s largest water company, but it is...

For people facing serious debt, insolvency can provide a route towards financial recovery. But a growing campaign is asking whether getting that help should mean having personal information placed on a register that anyone can search. Money Wellness, backed by four MPs and twelve organisations, is calling for the Government’s Individual Insolvency Register to become private. The campaign focuses p...

Major UK banks are increasing legal action against companies that defaulted on taxpayer-backed Covid borrowing, pushing pandemic-era lending into a new phase of debt recovery. Barclays, Starling Bank and HSBC have filed nearly 70 winding-up petitions since June against businesses linked to the Bounce Back Loan Scheme, showing how emergency lending is still affecting UK collections and insolvency....

Britain’s household energy debt has reached £6 billion, highlighting the financial pressure facing consumers and raising important questions for creditors, energy suppliers and the debt collection sector. In this episode of Debt Matters, we examine what growing unpaid energy bills mean for households and why responsible collection and early engagement are increasingly important. Energy debt reache...

The UK could be heading into another difficult period for household finances as higher energy bills threaten to push inflation back towards 3%. In this episode of Debt Matters, we examine what the renewed squeeze could mean for consumers, creditors and the UK debt collection sector. Energy bills are driving inflation higher Households are facing fresh pressure after Ofgem raised the household ener...

Energy affordability is again becoming a major concern. The Resolution Foundation has proposed an emergency scheme that could cut annual energy bills by up to £175 for lower-income households this winter. The proposal comes as wholesale gas prices rise and concerns grow that higher costs could push more families into financial difficulty. What is being proposed? The thinktank suggests a targeted s...

In this episode of Debt Matters, we explore why a reduction in business failures does not necessarily mean that trading conditions have become easier. We also discuss what this could mean for lenders, suppliers, debt collection professionals and businesses that rely on prompt payment to maintain healthy cash flow. Why have business failures fallen? A decline in insolvencies can be viewed as a posi...

In this episode of Debt Matters, we examine the collapse of London-based lender Amplifi Capital and the disclosure that NatWest helped finance a connected vehicle with facilities of up to £250 million. Amplifi entered insolvency in June 2026 after financial difficulties and challenges adapting to UK consumer-credit regulation. Amplifi began in 2013 serving credit unions before expanding into consu...

Thames Water, Britain’s largest water supplier, has drawn down the final £677 million portion of a £3 billion emergency debt facility as it tries to avoid running out of cash. The company says it has enough funding to continue into the last quarter of 2026, but its future depends on whether creditors, regulators and the incoming government can agree a rescue. Thames Water serves around 16 million...

A 146-year-old British footwear name has reached the end of the road for most of its high street presence. Russell & Bromley has closed 33 remaining stores and 9 concessions that were not included in the rescue deal with Next, with 400 staff made redundant and reported debts of £59.3m at the point administrators were appointed. For a UK debt collection podcast, this is not just another retail...

The UK motor finance redress scheme has hit another delay. The Financial Conduct Authority said parts of its proposed £9.1 billion compensation scheme are now suspended while legal challenges are heard. The case is expected in December 2026 or February 2027, so many consumers who expected clarity on car finance compensation may be waiting longer. What has happened? The FCA wants an industry-wide s...

In this episode of Debt Matters, we look at a serious debt story involving unlawful marketing, fake enforcement threats. On 23 June 2026, the ICO announced a £300,000 fine against Manchester-based KRA Consultancy Ltd after the company sent more than 5.5 million unlawful marketing text messages between April 2022 and May 2025. The texts promoted debt solutions to people turned down for loans, and l...

The British Council is facing a serious financial challenge as it tries to deal with a £197 million government loan created from emergency support provided during the COVID-19 pandemic. The National Audit Office says the organisation remains loss-making, has made no capital repayments since April 2024 and is not expected to return to profit until 2029-30. How the Debt Reached £197 Million The pand...

Household debt is no longer only about credit cards, loans or missed mortgage payments. For many people in the UK, the biggest pressure now comes from essential bills: energy, water and broadband. A new National Audit Office report has found that debt owed to energy and water companies has climbed to more than £7bn. At the same time, millions of customers are missing out on support that could help...

Today on Debt Matters, we are looking at a UK business debt story involving insolvency, HMRC arrears, creditor recovery and phoenix companies. What Happened? After the administration, the company’s assets were bought by a new business called PGGBR Ltd. The new company was set up by Andrew Woosnam, who had been the 99% shareholder of Premier Group Recruitment. The deal included an initial payment o...

In this episode of Debt Matters, we look at a major UK energy debt story after Ofgem’s interim chief executive Tim Jarvis warned that fewer households may need to be exempt from paying energy bills as unpaid balances push costs higher for everyone else. UK household energy debt has reportedly reached around £5.5 billion, and Ofgem has warned it could rise above £7 billion by the end of 2026 if the...

The UK Government has introduced the Small Business Protections Bill to Parliament, aiming to tackle late payments and poor payment practices. The Bill proposes a 60-day cap on payment terms, mandatory late payment interest at 8% above the Bank of England base rate, and stronger powers for the Small Business Commissioner to investigate and fine persistent late payers. Main points Late payment is n...

Today, we’re looking at a major warning sign for households, energy suppliers, credit control teams and the wider UK debt collection sector. Consumer energy debt in Britain could reach £7 billion by the end of 2026 if no further action is taken. At the same time, a planned £500 million energy debt relief scheme for some of the poorest households has still not launched because of delays around legi...

Today, we’re looking at a warning sign for UK businesses, credit control teams, debt recovery teams and commercial collections. What Has Happened? BTG’s Red Flag Alert data shows that UK businesses in critical financial distress have increased by more than a third. In Q1 2026, 62,193 companies were in critical financial distress, up from 45,416 in the same period last year. That is a 36.9% year-on...

In today’s episode of Debt Matters, we look at a UK business debt story showing how late payments are putting more pressure on companies, cash flow and credit control teams. A new update based on R3’s Business Health data says late payment pressure intensified in Q1 2026. Overdue invoices rose to 17.48 million, up 3% compared with the same period last year, while 1.57 million businesses had overdu...

UK businesses are falling behind on AI in payments and collections In this episode of Debt Matters, we look at a new UK payments and collections story with big implications for credit control, arrears management, and business cash flow. UK businesses are using AI in payments more slowly than their European peers. The gap is being linked to skills shortages, uncertainty around regulation, and hesit...

In today’s episode, we’re looking at new findings suggesting that major economic shocks may have had less impact on debt collections than many expected. What Intrum Found Credit management firm Intrum analysed portfolios of defaulted debt from 2016 to 2025 and found that average collections on established paying portfolios did not significantly deteriorate during either the Covid-19 pandemic or th...

Small business confidence in the UK may have improved slightly at the start of 2026, but the overall picture is still worrying. The Federation of Small Businesses said confidence remained negative in Q1 2026, with the Small Business Index at -53, up from -71 in Q4 2025. Even with that improvement, confidence has now stayed negative for 8 straight quarters. April has brought another wave of cost in...