Credit, Collections & Insolvency News
The Insolvency Service has published its latest business insolvency statistics which have revealed that the overall numbers of business insolvencies dropped in the days immediately after the UK lockdown was applied. The short term effects of the lockdown show that during the first three weeks of March, prior to the UK lockdown on the 23rd…
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The Insolvency Service has published its latest insolvency statistics which have released that the overall numbers of individual insolvencies dropped in the days immediately after the UK lockdown was applied. The figures show that were 10,397 individual insolvencies in April 2020 in England and Wales, consisting of 8,093 individual voluntary arrangements (IVAs), 1,496 debt relief…
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The Accountant in Bankruptcy, Scotland’s Insolvency Service that administers person insolvencies in Scotland has published its statistics for April 2020 which indicated that there were 976 personal insolvencies (bankruptcies and protected trust deeds (PTDs)) in April 2020. Personal insolvencies decreased by 199 (16.9%) less than in April 2019. Bankruptcies decreased by 71.6% in April 2020…
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The Accountant in Bankruptcy, Scotland’s Insolvency Service that administers company insolvencies in Scotland has published its statistics for April 2020 which indicated that there were 46 total company insolvencies last month. The figures were a fall of 55% in comparison to April 2019. The insolvencies comprised o 24 CVLs, 17 compulsory liquidations 4 administrations and…
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Experian says that its Affordability Passport is helping a host of organisations better understand vulnerable people’s financial situations, so they can best support them through the Coronavirus pandemic. The company says Local authorities and charities including Mental Health & Money Advice and Citizens Advice are using the Open Banking powered digital tool from Experian, which…
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Debt purchaser Cabot Credit Management latest business results have shown that the company expects a fall in collection rates as the business adapted to protect employees and serve our customers as COVID-19 crisis unfolded Delivered Adjusted EBITDA was £369 million over the last twelve months. Craig Buick, Chief Executive Officer, Cabot Credit Management, said “For…
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UK Finance has published its latest mortgage arrears and possessions update for Q1 2020 which indicate that there were 72,380 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance in the first quarter of 2020, six per cent fewer than in the same quarter of the previous year. There were…
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The Ministry of Justice Mortgage and Landlord Possession has published its latest mortgage and landlord possession statistics for England and Wales for January to March 2020 which indicates that mortgage possession claims have decreased. Compared to the same quarter last year, mortgage possession claims have decreased by 18%. This follows a three-and-a-half-year period of relative…
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Figures from the Office for National Statistics (ONS) have revealed that almost half of UK businesses are concerned that they will run out of cash in less than six months. The survey of over 5,000 firms found that a quarter (24%) said they were unsure about their level of reserves. Some 4% reported having no…
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