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Monthly Debt News (Sept 2023)

 


(Sept 2023)


Monthly Debt News looks at debts and the causes of debts in Britain from various sources selected for professionals to make the debt sector simple.


This month’s Debt News includes further welfare cuts, the rise in council tenant rent arrears,   loss of benefits due to overpayment recovery, and a man in debt due to dental costs abroad. And finally, bitesize stats. 

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Welfare cuts loom after forecast for inflation to climb again


Jeremy Hunt has been told that the increase is likely to have been driven by surging wages and an increase in the cost of clothing. The Treasury is braced for a surprise increase in inflation this summer, posing a headache for Jeremy Hunt in his attempt to curb government spending.


More here: Link  


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Council housing rent arrears rise significantly, survey finds


Four in five council landlords are seeing significant rises in rent arrears, a survey has found


More here: Link


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Thousands lose benefits after tax credits overpaid


Campaigners fear thousands more people face benefit deductions because of tax credit debts they didn't know about.


In excess of 800,000 households on universal credit received less money last year because they were previously awarded too much in tax credits, the BBC has found. More people will go on to the scheme from September.


More here: Link


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Man who pulled four of his own teeth is now thousands of pounds in debt


A man has spoken of how he was left to pull out four of his own teeth with string because he couldn't get an NHS appointment. A report says one in 10 Brits have resorted to DIY dentistry.


More here: links 

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Bitesize stats:


In 2022/23 approximately 2.99 million people used a foodbank in the United Kingdom, an increase when compared with the previous year. Between 2008/09 and 2020/21, the number of foodbank users increased in every year, from just under 26,000 to more than 2.56 million (Statista)   

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Compared to the same quarter in 2022, mortgage possession claims increased from 3,478 to 3,986 (15%), orders from 2,368 to 2,536 (7%), warrants from 2,446 to 2,654 (9%) and repossessions by county court  (GOV)

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Increases in possession claims have been recorded in all regions. Private and social landlord claims remained concentrated in London (with 7 and 5 of the highest 10 claim rates respectively  (GOV)


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The rising cost of living has had an impact on saving for retirement, with almost one in five (18 per cent) LGBTQ+ people surveyed saying they have cut contributions into pension plans and similar schemes recently – compared with 12 per cent of the wider population. (Pink Paper)


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End

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