Credit, Collections & Insolvency News
A new CfRC report calls for an expansion of debt advice and financial support services for low paid workers and private tenants. The research (‘Improving the Financial Health of Low Income Groups’), which was supported by the JPMorgan Chase Foundation, reviewed how low income households are currently being supported to manage their money, save for the…
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Ofgem has put in place a new safety net to protect consumers in the unlikely event their supplier goes out of business. The existing “supplier of last resort” regime already guarantees that people will continue to receive their energy supply. Following the consultation which began in June, Ofgem has now taken action to protect customers’ credit…
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Struggling businesses could face earlier intervention after the amount of business rates lost by Aberdeen City Council soared sixfold in the space of two years. Finance convenor Willie Young promised a “more proactive” pursuit of debtors after the local authority was forced to write off almost £183,000 last year. Since 2010, the council has written…
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While budgets for training and development came under pressure during the recent economic downturn, they are now firmly back on the agenda in the financial services sector, according to new research from leading specialist recruitment consultancy, Robert Half Financial Services. Recognising the perceived value of training and certification to employees, nearly four in 10 (39%)…
Read morePersonal insolvencies in Scotland have remained largely stable for the second quarter of the year, according to the latest figures from Accountant in Bankruptcy (AiB). Total personal insolvencies, which include both bankruptcies and protected trust deeds, totalled 2,424 for the second quarter of 2016-17 up to 30 September 2016, a small 0.8% increase on the…
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If you’re involved in the world of debt – perhaps you’re a lender, collector, debt adviser, debt buyer, regulator or insolvency practitioner – you might just want to check your diary. As autumn draws to a close, with the last of the conkers get swept away and the trees briefly revealing their true colours, there’s…
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More customers in vulnerable situations will get extra help, under changes to the Priority Services Register announced by Ofgem. Customers on the Priority Services Register can get free, vital services from network operators and suppliers to help them manage their energy. These include: customers being given a password so that they can safely identify representatives…
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Vodafone will be fined £4,625,000 by Ofcom for serious and sustained breaches of consumer protection rules. The Ofcom investigation uncovered mis-selling, inaccurate billing and poor complaints handling procedures The penalty is the result of two investigations into Vodafone completed by Ofcom. One investigation found that 10,452 pay-as-you-go customers lost out when Vodafone failed to credit their…
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Parents and children are relying on financial support from each other, according to the latest findings from a SunLife’s report. The research shows that while one in six (17%) 55-65s are expecting to be supported financially by their grown up kids when they retire, one in five (19%) adult children are relying on inheritance from their…
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