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Debt News (Oct 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 concerns over paying energy bills, a household debt time bomb, a call to write off student debts for nurses, debt collectors chasing a footballer,  dentists using debt collectors to recover debts,  Windsor and Maidenhead Council bankrupt and the highest mortgage debts since record began. And finally, bitesize stats. 

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One in four concerned they won’t be able to pay their energy bills

Latest data from, energy efficiency platform, Snugg has found that many people feel they are wasting money on energy bills because of their home’s poor energy efficiency. And while most would like to make their home more efficient, there is mass confusion over how and what help is available.


More here:  Link 

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How can we defuse the household debt time bomb?

Mortgage borrowers may have breathed a sign of relief this week as interest rates appeared to reach their peak. But look beyond the headlines and a much nastier, harder-to-solve debt problem is lurking.

More here: Link

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Government urged to wipe student nurse debt to curb attrition


Nurses’ student debt should be cleared after 10 years of service to tackle the drop-out crisis taking place in the NHS, a think tank has urged the government.


More here: Link

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Premier League star ‘chased by debt collectors after refusing to pay for a £25,000 set of veneers’


A Premier League star was chased by debt collectors after refusing to pay for a £25,000 set of dental veneers, it has been claimed.

More here: Link

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Dentists are turning to debt collectors to go after patients as post-Covid rise in non-payments sinks teeth into profits


One dentist in Purley said some patients just walk out of the door without paying, with it being suggested the introduction of the rent-relief scheme by the Government saw some think they did not have to pay for anything.

More here: Link

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Royal Borough of Windsor and Maidenhead on 'bankruptcy brink' with debts of £200m


The Berkshire council has overspent this year by more than £7 million, councillors heard on Saturday


More here: Link

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Bankruptcy is spiking among UK borrowers – but there are debt relief options if you are struggling financially


UK households have one of the highest debt levels in the world. Steadily increasing in the last two decades, the average total debt per household (including mortgages) is £65,619 as of August 2023. This is £34,644 per adult, or around 103.5% of average earnings.


More here: Link

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Bite Size stats:


Across the UK, more people from Black, Asian, and other minority ethnic backgrounds, are likely to be in poverty (i.e., have an income less than 60% of the average household income) than white British people (Health Equity in England)

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Growth in household debt levels accelerated from early 2016, so that the debt-to-income ratio rose again to 136.3% by mid-2017. In Q1 2023 it was 128.9% (Research Briefing - Parliament)

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There were 26,390 individual insolvencies in England and Wales in Q2 2023, 2,254 fewer than in the previous quarter. The largest increase since the current series began in 2010 was seen between Q2 2020 and Q3 2020 (Research Briefing - Parliament)

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England has the highest percentage of rented properties. Here, 15.29% of all homes are privately rented, compared to 14.9% in Scotland and 14% in Wales and Northern Ireland  (confused.com)

THE END

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