Credit, Collections & Insolvency News
The number of County Court Judgments (CCJs) issued against consumers in England and Wales in 2020 fell by 45 percent compared to 2019, from 1,146,475 to 626,775, according to figures released by Registry Trust. The total value of CCJs registered in 2020 fell by 34 percent to £1.1 billion, down from £1.7 billion in 2019.…
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The number of decrees and total amount of debt registered against Scottish consumers fell sharply in 2020 compared to 2019, according to figures released by Registry Trust. The number of decrees fell by 31 percent from 19,153 to 13,308. The total value fell from £49.6 million to £37.2 million, a fall of 25 percent compared…
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The number of debt judgments registered against Northern Ireland consumers in 2020 was 3,207, a fall of 52 percent compared to the 6,649 registered in 2019, according to figures released by Registry Trust. The total value of consumer judgment debt owed in 2020 also fell by just over half (54%) compared to last year, from…
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The number and total value of judgments registered against Irish consumers saw a large fall in 2020 compared to 2019, figures released by registrar Irish Judgments show. The number of judgments against consumers fell by 62 percent, from 2,456 to just 930. The total value fell by 79 percent, from €192 million in 2019 to…
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Business advisory firm Quantuma has completed a merger with Essex-based business management consultancy Aspect Plus, to further strengthen its South East presence. This will be the firm’s first move into Essex and takes its number of UK offices to 18 and 22 globally, which include its overseas offices in Cyprus (Nicosia and Paphos), Mauritius and…
Read moreNearly a quarter of a million parents on Universal Credit fear not being able to properly feed their children if cut to benefit goes ahead, according to report from the Trussell Trust. The report warns of a growing need for food banks from people claiming Universal Credit as one in five people on the benefit…
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Experian has launched the newest version of its fraud prevention platform to help businesses dealing with the rapid surge in demand for digital services and the growth of online accounts. The company says that due to the digital acceleration instigated by Covid-19, online retailers, businesses, and their customers are at risk of the growing threat…
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Begbies Traynor has announced two new appointments. Andrew Little joins as a Partner, working across the North East and Martyn Shakespear joins as a Director in the Corporate Solutions team in the East Midlands. Little has 30 years’ experience as an ICAEW chartered accountant and moved into insolvency in 2005. He has spent the last…
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Business restructuring specialist Clarion has announced two new appointments to its specialist Insolvency Litigation with the appointments of Emma Lowe as Legal Director and Cat Tanham as Associate. Lowe is an experienced commercial litigator with a strong track record advising UK and international clients on high-value commercial disputes. After qualifying in 2006, she went on…
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Analysis by Purbeck Insurance Services shows that owners of SMEs have more than £1.2 billion of personal liabilities linked to emergency pandemic support loans, with 1,587 directors agreeing to such terms when taking on credit through the Coronavirus Business Interruption Loan Scheme (CBILS). The report, which comes after a Freedom of Information request from the…
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Energy regulator, Ofgem has announced that from 1st April 2021 the price cap will rise and return to pre-pandemic levels, principally as a result of changes in wholesale energy prices. The regulator said the price cap for default domestic energy deals would be raised to cover suppliers’ extra costs. Wholesale prices fell sharply last year in the wake of the first…
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The Money Advice Trust has urged the government to prioritise reforms to the way it collects debts following the Cabinet Office’s publication of responses to its call for evidence on fairness in government debt collection. The publication highlights evidence submitted to the government on the widespread issues with the current approaches to debt collection in…
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