Credit, Collections & Insolvency News
The Ministry of Justice has announced that it will allow enforcement visits to recommence from 24th August 2020. Responding to the announcement, debt charity StepChange says that it believes this is unsafe, and deeply troubling when compared with the more careful approaches being taken in other sectors where regulators are closely overseeing the practices of…
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Energy regulator Ofgem has given the green light for collections on unpaid bills can resumer but has urged suppliers to avoid aggressive collection tactics. Ofgem has told energy suppliers it is not in anyone’s interests for an open-ended debt collection delay. In an open letter, the regulator set out it’s updated approach to regulating domestic…
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Councils in deprived and affluent areas face serious financial risks from the COVID-19 crisis as incomes fall and costs grow. A new report from IFS researchers and funded by UK Research and Innovation says that the government has provided an additional £3.2 billion of general-purpose funding to English councils to help support them through the…
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Nearly half of small businesses have had to raid their savings to stay afloat during the coronavirus pandemic.The analysis by Redwood Bank estimates as much as £22.4 billion has been withdrawn from corporate deposit savings accounts to pay bills. A survey carried out by Redwood Bank in May has shown that 48 per cent of…
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The number of Universal Credit claims made by the over 50s more than doubled in May compared with March this year, rising from 304,000 to nearly 660,000 in just two months, with further analysis showing that the age bracket do not have enough money to pay for basic necessities, a study of labour market statistics has…
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EQ Credit Services (EQCS) has announced the appointment of Mark Webster as Mortgage Account Director. Webster will be responsible for driving uptake of EQCS’s consumer credit technology and outsourced services among mortgage providers, following its expansion into the sector in April this year. Webster joins EQCS from Unisys and brings more than 20 years’ experience…
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