Credit, Collections & Insolvency News
Here is an overview of The Money Charity’s latest statistics for September 2019: Personal debt in the UK People in the UK owed £1,647 billion at the end of July 2019. This is up from £1,600 billion at the end of July 2018, an extra £888 per UK adult over the year. The average total…
Read moreDebenhams has won a legal challenge against its Company Voluntary Arrangement (CVA). The department store was taken to court by Combined Property Control Group (CPC) – the landlord of six Debenhams stores in England – over the argument that its CVA was “designed to create a situation in which the company’s general body of unsecured…
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Debt Arrangement Scheme (DAS) reforms have been approved by Scottish Parliament. The amendment regulations will come into force on 4th November 2019. The regulations were developed following considerable work and engagement with stakeholders with the aim of increasing the accessibility, flexibility and sustainability of Debt Arrangement Scheme (DAS) payment programmes. These Regulations amend the Debt…
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The Financial Conduct Authority (FCA) has updated and published draft directions under its Temporary Transitional Power (TTP). The TTP gives the FCA flexibility in applying post-Brexit requirements, allowing firms to transition to a new UK regulatory framework. The directions would only come into effect on exit day if the UK leaves the EU without an…
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New figures from UK Finance show bank scam victims lost £207.5m in the first six months of this year to authorised push payment fraud – more than £1.1m a day. A total of 57,549 cases were recorded by banks – a 69% rise compared with the same period in 2018. Over the same period, £408…
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