Credit, Collections & Insolvency News
The proportion of people with a job who live in poverty went up for the third consecutive year in 2018 to a record high, with about 14 million struggling to make ends meet according to a report by Joseph Rowntree Foundation (JRF). The report shows that rising levels of employment have failed to translate into…
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Energy bills are to fall for millions of British households this April after the regulator lowered price caps. Ofgem has reduced the default price cap and pre-payment meter cap by £17, which the regulator said would lower bills for about 15 million households. The default price cap, which protects around 11 million households, is set to fall…
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Law firm, Aberdein Considine has moved to strengthen its banking litigation team with two senior appointments. Natalie Mortimer joins the firm as the Head of Compliance for the Lender Services Practice Group. Mortimer has moved to Aberdein Considine from Virgin Money where she was Head of Risk, Compliance and Quality. She brings over 15 years’…
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The Treasury has published an impact assessment of its forthcoming ‘breathing space’ scheme to help people in debt by giving them 60 days free from creditor contact in which to talk over their options with a professional debt advisor. 700,000 people are expected to take part in the scheme in its first year, and 1.2…
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Latest research from Cifas, the UK’s leading fraud prevention service, has revealed that the number of people failing to disclose a previous address in an attempt to hide their adverse credit rose by just over a quarter (26%) in 2019. Adverse credit refers to a poor repayment history – usually on loans or credit cards.…
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Finance specialist, TotallyMoney has warned that 27 million households are potentially missing out on substantial £300 savings due to price hikes and widespread misconceptions. TotallyMoney’s research revealed that a significant £300 a year could be saved on average in UK households by switching energy tariff, this equates to customers overpaying by £3.8 billion due to not…
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The Treasury has today confirmed the appointment of two new Non-Executive Directors to the Financial Conduct Authority (FCA) Board. Jeannette Lichner and Bernadette Conroy will each serve three-year terms beginning on 1st April 2020 and 1st August 2020 respectively. Bernadette Conroy has senior manager and non-executive experience in organisations in both the public and private…
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