Credit, Collections & Insolvency News
The latest RICS UK residential market survey suggests that supply issues could lead to rents increasing by 15 per cent by the middle of 2023. The most striking feature of the July 2018 survey is the continued reduction of new property being put on the market in the lettings sector with 22% more respondents seeing…
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Nearly 1 in 10 UK adults (9%) have been defrauded via their debit or credit card in the last year, equating to 4.7 million people across the country. This is according to a poll of 2,000 UK adults commissioned by Compare the Market, which found that nearly 5 million people have had their credit card,…
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Latest figures released by UK Finance has shown that mortgage arrears and possessions are continuing to decline. The figures indicate that there were 76,740 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance in the second quarter of 2018, 8 per cent fewer than in the same quarter of the…
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With the UK’s smaller businesses currently owed £14.2 billion in late payments, we are regularly being assured the government takes the matter seriously and continues to look for ways to tackle the ongoing issue. In recent years, a number of new initiatives have been introduced by the government with this in mind. This includes the…
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The Pre-Action Protocol for debt claims was brought in with the best of intentions, with the objective being to protect the vulnerable and encourage parties to act in a reasonable and proportionate manner, while looking to foster early communication and thereby avoiding unnecessary court action. The reasoning behind this is entirely commendable and it’s a…
Read moreA new study from LV has revealed that people in their early thirties are putting off life milestones such as having children or buying a home, due to being one of the least financially resilient groups in the UK. A quarter (24%) of the 30-35-year-olds in the study, of which there are 4.7 million in the…
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The formal launch of the new Republic of Ireland Branch of the Chartered Institute of Credit Management (CICM) will take place at Croke Park on 17th September. The day will commence with a best practice conference featuring topics such how the CICM will support credit managers in the country, the role of Artificial Intelligence and…
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British Gas has announced that it will increase its energy prices for 3.5 million customers for the second time this year. The 3.8% increase in its standard variable tariff (SVT) from 1st October means the average bill will rise by £44, taking it to £1,205 a year. This follows a previous price rise of 5.5%…
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Computershare Loan Services has donated a total of £5,000 to Turn2us and Citizens Advice Maidstone to fund projects supporting people experiencing financial hardship in the second round of funding from its Loan Services Charity Donation Fund. Turn2us will receive £1,500 to fund three workshops for workers and volunteers to help them better assist people in…
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