Women are suffering most in the financial squeeze, according to the latest figures from credit management group Intrum.
Changing times mean changing ways of taking on credit and consumers are now used to subscription payment models for all kinds of services, from TV streaming to gym membership and food subscription boxes.
Nearly 4 in 5 (79%) either break even or overspend each month
More than a fifth of UK consumers (22 per cent) worry that they may have to skip a low-priority bill over the next 12 months
More than a quarter (26%) of UK consumers are spending more than they earn each month, according to early findings from the 2023 European Consumer Payment Report, conducted by credit management services provider Intrum.
More than six in 10 UK businesses have shifted their focus from growth towards cost cutting, in response to rising inflation and interest rates, according to Intrum's 2023 European Payment Report (EPR).
Intrum’s 2022 European Consumer Payment Report paints a gloomy picture of consumers’ financial wellbeing and economic outlook. With rapidly increasing costs of living, consumers are cutting back on sustainable goods and services to manage their household finances.
Surging inflation has created a wave of financial anxiety as households struggle to meet their commitments. Intrum’s annual European Consumer Payment Report (ECPR), a survey of 24,000 consumers across Europe, shows that eight in 10 UK respondents are worried about rising grocery and energy prices.
Intrum’s annual European Payment Report (EPR)*, a survey of 11,000 companies across 29 European countries, shows that businesses are expecting late payments to grow significantly in the coming months, following the rising inflation and interest rates. UK businesses are even less likely than their European peers to make growth a priority.
Businesses are paying their suppliers even later, despite admitting that they have a responsibility to smaller firms, according to early findings from the 2022 European Payment Report.
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Compliance and ethical customer treatment are the cornerstones of Intrum’s collections approach. We invest significantly in technology, processes and people to ensure the best outcomes for customers and clients.
Good debt collection practice requires providers to adhere to the legal standards set by the markets in which they operate. At Intrum, we believe an ethical approach is the only right way to operate.
Instead of struggling with late payment, choose a debt collection and credit management specialist to ensure prompt payment and excellent customer service.
A rich diversity of languages is one of the ways Intrum’s global presence creates a positive customer experience. We believe coupling the strength of an international business with local knowledge and expertise is the best way to ensure clients and their customers are looked after.
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