Credit, Collections & Insolvency News
Fewer Scots have accessed statutory debt solutions according to the figures from Accountant in Bankruptcy (AiB) for the fourth quarter of 2016-17. Compared with the third quarter of 2016-17, total personal insolvencies, which include bankruptcies and protected trust deeds, fell by 3.9%. In the three months between 1 January and 31 March, bankruptcies fell by…
Read moreThe Civil Enforcement Association (CIVEA), which represents all the major civil enforcement agencies along with a number of independents, is to host a major conference this September 20th at One Great George Street in Westminster. The one-day event will include a conference and exhibition and will be free to delegates drawn primarily from local authorities. …
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The Financial Conduct Authority (FCA) has published data on the number of complaints reported by firms under new rules which came into force on 30 June 2016. The total number of complaints reported by firms in the second half of 2016 was 3.04 million. This number is higher than previous reporting periods because under the…
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Online research from Equifax reveals that 61% of Brits underestimate the financial cost of fraud, valuing the impact at less than £1 billion. Over half (54%) estimate the cost to be £500m or below, well below the £1.1 billion level published in the latest KPMG Fraud Barometer. The survey, conducted by YouGov, found 60% of…
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Finalised guidance on the fair treatment of mortgage customers in payment shortfall (also known as arrears) and the impact of automatic capitalisation (FG17/4) has been published by the Financial Conduct Authority (FCA). The guidance will help set out a remediation framework for customers who have suffered harm because of automatic capitalisation of payment shortfall, as…
Read moreOver 11 million British households (42%) could reclaim almost £1.3 billion from suppliers for the energy they paid for but didn’t use this winter, according to new research from uSwitch.com. The data reveals that the average household in credit with their energy supplier could stand to reclaim £117, while 7% could reclaim more than £200.…
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The Central Bank of Ireland has fined Allied Irish Banks,(‘AIB’) €2,275,000 and reprimanded it for six breaches of the Criminal Justice (Money Laundering & Terrorist Financing) Act, 2010. All six breaches have been admitted by AIB. The Central Bank identified six breaches of the CJA 2010 as a result of significant failures in AIB’s anti‐money…
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Almost four in five (77%) British consumers have concerns about using new payment methods according to data from global law firm Paul Hastings. A survey of over 2,000 consumers highlights how security fears are preventing many consumers from embracing new payment technologies, yet providers of new methods are often leading the way in creatively addressing…
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