Credit, Collections & Insolvency News
Over 600,000 consumers of short term loans may no longer have access to credit, according to a report by the Consumer Finance Association (CFA) and economic analysts, Oxera. Without access to a regulated form of finance many consumers are unable to take action to manage their cash flow or cover emergency financial costs. They could end…
Read more
Over 620,000 families in England and Wales are spending more on overdue bills than on food, new research published by The Children’s Society has found. Families behind on bills are spending 18% of their income on paying back arrears. The Children’s Society is warning that huge bills can force families to cut back on food…
Read more
The government has published a report on Household debt. The report includes the latest statistics and forecasts for household debt in the UK and international comparisons. There is also a guide explaining how to understand and interpret household debt statistics and a summary of research looking at its effects on the economy. In the report…
Read more
The Solicitors Regulation Authority (SRA) has published independent research exploring the experiences of potentially vulnerable people using family law services. The report has found that consumers are commonly using loans, credit cards, and payment plans to access legal advice as the cuts to legal aid continue to affect the most vulnerable. While 84% consumers seeking…
Read moreThe government has announced that it will be cracking down on misleading consumer practices including subscription traps, where people pay subscriptions they aren’t aware they’ve agreed to. A report from Citizens Advice last year found as many as 2 million people struggle to cancel continuous payments – often used for buying products online – and…
Read moreThe board of debt judgment registrar Registry Trust has designated Nick Rossiter its new Chief Executive Officer with effect from July this year. Rossiter has worked with Registry Trust for 13 years, initially as operational manager and more recently as an Executive Director and Chief Operating Officer. Last year he was appointed Deputy Chief Executive. Rossiter will…
Read more