May 2018

Over 65’s to owe £86bn by the end of the year

Research finds older borrowers are failing to pay off debts before retirement age 

 
A new study commissioned by More2Life has found that overall debt for over-65s has grown to 35bn in three years and is expected to surpass last year's figure of £78bn. This figure includes all types of secured and unsecured debt including mortgages, credit cards, car finance and payday loans.
 

DAF chosen for community fund

Debt Advice Foundation has been chosen as one of the latest beneficiaries of the Co-op’s local community fund

 
We are asking for Co-op customers to help us raise money for our financial capability education programme, DebtAware
 

Over half of those in debt not seeking help

Only 4 in 10 struggling with finances seek assistance

A poll from Nationwide Building Society has found that most of those struggling with debt manage it alone. 
 

Unsolicited calls from Debt Advice Foundation

Have you had a call from us that you didn’t ask for?

 
We have posted this previously but we have had an influx of new complaints today. Please be aware that a fraudster is calling members of the public pretending to be from Debt Advice Foundation.
 

Number of IVAs reached highest quarter total on record

Individual Voluntary Arrangements reach highest levels since they were introduced in 1986

 
A release from the Insolvency Service has shown that the number of people becoming insolvent in England and Wales has reached the highest levels since 2012. There were 27,388 individual insolvencies in Q1 2018, which is 8.5% higher than in the same quarter the previous year.