Credit, Collections & Insolvency News
A new debt recovery law has been launched following authorisation from the Solicitors Regulation Authority (SRA). AJJB Law says that it will be a modern legal practice specialising in all aspects of financial debt recovery litigation and will operate from the same location as its parent company CRS. The company says that its debt collection…
Read more
More than 100,000 UK businesses have a corporate structure so complicated it would take over half a day for them to complete anti-fraud checks, according to Experian analysis. Businesses are required to perform Know Your Customer (KYC) checks on their clients to ensure they are not involved in financial crime or fraud. Fraudsters can use…
Read more
Bank of England figures have revealed that mortgage approvals have reached their highest level in almost two and a half years, with the number approved for house purchase in December increasing to 67,241 from 65,514 a month earlier. The value of mortgage lending meanwhile was up by £4.55bn, compared with an average of £4.2bn over…
Read more
Just, the enforcement market integrator has appointed Shahram Sharghy as their In-house Barrister. Sharghy has 20 years of experience and expertise in this area of law and has been at the forefront of some of the most pioneering developments concerning High Court Enforcement. He regularly appears in the High Court in relation to a wide…
Read more
Enforcement specialist JBW Group has announced it has fully acquired the shares of debt collection agency (DCA) Advantis Credit with funding provided by OUTSOURCING Inc. Advantis will continue to be managed separately to JBW and will retain its brand and management team, led by CEO, Mark Webb. This acquisition brings FCA Regulated Debt and Contingent…
Read more
The Financial Conduct Authority (FCA) has written to credit card firms telling them to review their approach to borrowers who are stuck in persistent debt, where they are paying more in interest, fees and charges than they are paying of their balance. New FCA rules require firms to help people who have been caught in…
Read more
Representatives of the construction industry, Build UK, have published the latest payment results submitted by its members under the ‘Duty to Report on Payment Practices and Performance’. The report’s aim is to create greater transparency across the construction sector which in turn will lead to improved payment practices. The report shows that contractor members showed…
Read more
The number of insolvencies amongst women aged 65 and over increased from 1,109 in 2008 to 2,082 in 2018 – an increase of 88% in a decade, according to new analysis from Rest Less, a jobs, volunteering and advice site for the over 50s. The insolvency rate of this group increased from 0.02% to 0.04%…
Read more