Credit, Collections & Insolvency News
Here is an overview of The Money Charity’s latest statistics for May 2017: Personal debt in the UK People in the UK owed £1.529 trillion at the end of March 2017. This is up from £1.484 trillion at the end of March 2016 – an extra £886.84 per UK adult. The average total debt per…
Read moreThe Bank of England’s latest money and credit statistics have revealed that mortgage approvals have fallen to a six month low. The statistics also show an increase in consumer debts such as credit cards and loans. The Bank of England’s figures for March 2017 show consumer credit increased by 10.2% in the year to March, to…
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Insight from MoneySuperMarket has revealed that the introduction of an energy price cap, widely rumoured to feature in the Conservative Party general election manifesto, could mean the end of cheap fixed rate tariffs, risking a situation where UK households miss out on additional savings of £200. Last year alone the cheapest deals offered by MoneySuperMarket…
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Fewer debt judgments were recorded in the Four Courts during the first three months of 2017 than in any other first quarter on record, according to figures released today by Registry Trust. There were 535 judgments registered against consumers in Q1 2017, three percent fewer than the same period last year. It marks the fourth…
Read moreCredtfix is calling on the Scottish Government to widen its offering of debt solutions to Scottish residents struggling with their personal finances, beyond just the Debt Arrangement Scheme (DAS) that has been in place since 2004. Glasgow-based Creditfix wants different solutions to be offered depending on individuals’ personal circumstances. Pearse Flynn, CEO of Creditfix said…
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Jonathan Westhoff, Chief Executive of the West Bromwich Building Society, has been elected Chairman of the BSA. He replaces Dick Jenkins, Chief Executive of the Bath Building Society, who has held the post since November 2015. At the same time, Stephen Mitcham, Chief Executive of Cambridge Building Society, has been elected as Deputy Chairman. Commenting…
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Close Brothers has announced the acquisition of Novitas Loans. Novitas is a leading provider of loans to the legal sector and will become part of Close Brothers Invoice Finance and Rentals, led by David Thomson. Novitas specialises in providing working capital for law firms and also loans to their clients purchasing specific legal services, from divorce…
Read moreThe number of debt judgments in Northern Ireland fell slightly during the first three months of 2017, according to figures released today by Registry Trust. There were 1,925 small claims judgments in Q1 2017, three percent fewer than the first quarter of 2016. The total value rose by six percent, however, to £3.9m. The average…
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