Credit, Collections & Insolvency News
Scottish consumers owed £14.3 million in registered debt in Q1 (January-March) 2020, according to figures released today by Registry Trust. The figures were a rise of 20 percent when compared to Q1 2019. The number of decrees saw a small increase of three percent compared to Q1 2019. The large rise in the value over…
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The number of decrees against Scottish businesses rose by 29 percent over the period according to the latest figures from the Registry Trust. Decrees numbers increased from 561 to 722 in Q1 (January-March) 2020. The total value of decrees against businesses fell 5%, to just under £3million. The average value also fell by 10% as…
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The total value of registered debt in Jersey has almost halved from £1.2 million in Q1 2019 to £678,567 in Q1 2020 – a fall of 45 percent according to latest figures from the Registry Trust. This is despite an increase of 10 percent in the number of judgments issued in the Jersey Petty and…
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The UK government has temporarily banned landlords from using winding-up orders and from what the government calls aggressive debt recovery tactics against retailers while the COVID-19 crisis continues. The Business Secretary has set out new measures to protect high street shops and other companies under strain. The companies will be asked to pay what they…
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The Confederation of British Industry (CBI) has urged that the government accelerate the delivery of support to businesses. The CBI says that the Government has acted at pace to protect companies and jobs. So far around £6 billion in grants from local authorities have reached small businesses. And the Job Retention Scheme started strongly on…
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Latest ONS crime figures show the total number of estimated fraud incidents at 3.7 million for 2019; the same as the previous year, based on the Crime Survey for England and Wales (CSEW). However, data from the National Fraud Intelligence Bureau (NFIB) which utilises reports from organisations including Action Fraud, Cifas and UK Finance, has…
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The banking and finance sector has provided over £2.8 billion of lending to SMEs so far through the Coronavirus Business Interruption Loan Scheme (CBILS), as part of a broad package of support for UK businesses, according to the latest data published by UK Finance. Total lending under CBILS has doubled in the week from 14…
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The Financial Conduct Authority (FCA) has confirmed that it will be introducing the package of measures outlined last week to support consumer credit customers facing payment difficulties due to coronavirus (Covid-19). The targeted temporary measures being implemented are a 3-month payment freeze for motor finance, buy-now pay-later (BNPL), rent-to-own (RTO) and pawnbroking agreements. For high-cost…
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