Credit, Collections & Insolvency News
The majority of collections teams now have a range of creative options in place to help customers in debt manage their situation and find the best possible outcome, quickly. But all this is irrelevant if customers can’t or won’t engage. Getting customer communication right is a fine art but can science offer a fresh perspective…
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Latest UK Finance data has indicated that outstanding balances on credit card accounts had fallen 12% in a year to £53.3 billion, down from 19% a month earlier. The April figures showed that there were 33.9 million credit cards with balances at the end of the month, this was down 7% from April last year…
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New research byJuniper Research study has predicted that 53% of the world’s population will access digital banking services in 2026 reaching over 4.2 billion digital banking users, from 2.5 billion in 2021. The research identified increased digital transformation efforts as enabling banks to function effectively during the pandemic; justifying the benefits of digital banking and…
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New analysis published in The Big Issue has revealed evictions and repossessions continued throughout lockdown, as campaigners called for urgent action to prevent an avalanche of homelessness this autumn once Covid-related support ends. The Big Issue has pointed to a potential four-pronged attack on the public in the autumn, with an end to the Universal…
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Latest figures from the Insolvency Service have indicated a 19% increase in business insolvencies in England and Wales when compared to May’s figure of 1,014, and rose 62.9% compared to June 2020’s figure of 741. The number of registered company insolvencies in June 2021 was 1,207 this was 63% higher than the number registered in…
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Latest figures from the Insolvency Service have indicated that personal insolvency numbers across England & Wales increased by 15.8% in June 2021. Personal insolvencies rose by 9,836 in June 2021 compared to May’s figure of 8,497, and were 18.8% higher than June 2020’s figure of 8,282. The figures show that there were 735 bankruptcies and…
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Latest figures released by Accountant in Bankruptcy (AIB) have indicated that Scottish business insolvencies rose by 67% in June 2021. The figures show that there were 77 company insolvencies registered in Scotland, this was 67% higher than in June 2020 and 13% higher than in June 2019. This was comprised of 14 compulsory liquidations, 62…
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Latest statistics from the Insolvency Service have shown that Northern Irish personal and business insolvencies numbers decreased in June. In June 2021 there were 163 personal insolvencies in which was 40% lower than June 2020 and 15% lower than June 2019. The figures consisted of 130 IVAs, 19 DROs and 14 bankruptcies. There were 11 business insolvencies…
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