Credit, Collections & Insolvency News
As our industries and governing bodies continue to work towards a more financially capable nation her is an overview of the top six topics to watch in 2019. 1. New year, new government body The Single Financial Guidance Body (SFGB) officially began operating in January and replaces the Money Advice Service (MAS), the Pensions Advisory…
Read more
For any FCA regulated firm, the risk and compliance function is an essential and integral part of the business – but it wasn’t always that way. Risk and compliance departments, once held in low esteem by other business units, have evolved into a crucial function for protecting profitability. This is still a controversial statement in…
Read more
This time of year can be bleak. With turkey and twinkling lights a distant memory, it’s back to reality. Many people will also be facing debt, exacerbated by the cost of Christmas, higher heating bills, and other expenses that peak in winter. In 2018, Citizens Advice said people are struggling more with bills such as…
Read more
Rent to own specialist Brighthouse has announced that it is shutting 30 of its shops cutting 350 jobs amid tough conditions on the High Street. Brighthouse, which employs about 3,000 people, said it had informed staff. A Brighthouse spokesman said: “We are working to redeploy as many people as possible into alternative roles but redundancies…
Read more
People claiming Universal Credit are still struggling to pay for the roof over their heads, despite the wait for their first payment being reduced from six weeks to five, according to new Citizens Advice data. One in two people the charity helped were in rent arrears or fell behind on their mortgage payments, the same…
Read more
AccountScore, and The Insolvency Panel has announced the launch of the first ever Open Banking solution for the debt advice and debt solutions sector. The service, going live in February, will use AccountScore’s Open Banking platform consents.online to instantly auto-populate consumers’ income and expenditure information, direct from their current account, in complete compliance with the Standard…
Read more
The total number of judgments in 2018 against Irish businesses is at a record low, with business debt down 15 percent on last year. For the seventh consecutive year, the number of business judgments issued declined; 575 judgments were registered in 2018, a record low. Compared to 2017, the total value of business judgments fell…
Read more
The total number of judgments in 2018 against Irish consumers is at a record low, with consumer judgments down eight percent. However, the value of consumer judgments rose by 22 percent in the same year. There were 1,985 judgments registered against consumers in 2018, eight percent fewer than the previous year and a record low.…
Read more
The total value of decrees against Scottish businesses rose in 2018 compared to the previous year. But the total value of decrees against companies – the generally larger incorporated businesses – dropped to the lowest annual figure on record, according to figures released by Registry Trust. There were 3,057 decrees issued against businesses in Scotland during…
Read more
Latest figures published by the Registry Trust have shown that Scottish debt orders have risen by 7 percent in the past year. During 2018, 24,362 debt decrees registered against Scottish consumers, this was seven percent higher than in 2017. There was also a moderate increase to the combined value of all consumer decrees to £64.1million. The average…
Read more
Latest figures published by construction association, Build UK, show that its members have made a slight improvement in payment performance within the past six months. However, in its latest pay performance construction payment leagues, it indicates that no build UK major contractor members are reported as paying their bills within 30 days. The average time taken…
Read more
The number of debt judgments in Jersey fell in 2018 compared to 2017, according to figures released today (February 6) by Registry Trust. However the total value of judgments increased during the same year. There were 1,492 judgments registered in Jersey during 2018, 14 percent fewer than in 2017. By contrast, 3,489 judgments were registered in…
Read more