Debt purchaser, Cabot Credit Management has announced that it is to become a wholly-owned subsidiary of Encore Capital Group. The announcement was made as part of the companies latest financial results for the three months ending 31 st March 2018. Commenting on the results Ken Stannard, Chief Executive Officer, Cabot Credit Management, said: “Cabot Credit Management…

The number of debt judgments registered in Jersey rose slightly during the first Quarter (Q1) of 2018, according to figures released today by Registry Trust. In Q1 2018, a total of 543 debt judgments were made, 13 percent more than during the same quarter last year. This increase in total volume was caused by an…

More than half of consumers with debt are struggling according to a new poll that reveals most people take on the strain themselves rather than seek help. The Nationwide Building Society poll of more than 2,000 UK adults reveals that of those in debt, 57 percent are experiencing debt problems and feel like they are…

The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has confirmed the line-up of speakers for this year’s UK Credit and Collections Conference (UKCCC). Two senior executives from the Financial Conduct Authority (FCA) – Roma Pearson (Head of Consumer Credit) and Richard Fox (Head of Cross-Sectorial & Funds…

Millions of consumers feel they are ‘living beyond their means’, a study has found. Researchers discovered a large percentage of the nation fall back on credit cards and overdrafts when wages fail to last until the end of the month according to new research by Vantage Leasing. Of the 2,000 Consumer surveyed, 43 percent have…

The number of tickets issued to drivers on parking on private land has surged by almost a million in just 12 months to a new high, the latest official data suggests. RAC Foundation analysis of DVLA data shows that in the last financial year (2017-18) 5.65 million sets of vehicle keeper records were released to…

The Insolvency Service has released the latest numbers personal insolvency in Quarter 1 (January to March 2018). The figures show that individual insolvencies reached the highest quarterly level since Quarter 3 of 2012. This was driven primarily by an increase in individual voluntary arrangements, which reached a record high, while the number of bankruptcies and…

Credit management firm Intrum UK has announced that it has this month deployed a collections ‘chatbot’ powered by artificial intelligence. The chatbot enables customers to receive answers to their questions 24 hours a day, seven days a week. The technology is being piloted in Intrum’s UK and Norwegian businesses before it is deployed globally. The intelligent…

The Credit Services Association (CSA)  has welcomed the support for fair treatment for people struggling with mental health but has expressed concern over the continued characterisation of their members as being ‘anti-consumer’. The CSA, which represents over 300-member firms dealing with more than 40 million cases, has called upon the debt charity sector to work more closely with…

Accountant in Bankruptcy (AiB) has released official statistics reporting personal insolvencies in Scotland for the fourth quarter (January to March 2018) of 2017-18. Provisional estimates show that in 2017-18 personal insolvencies in Scotland increased by 4.7% to 10,503 from 10,032 in 2016-17. Estimates for 2017-18 are provisional until final figures are published in July 2018.…