Personal insolvencies show minor increase

20th September 2021 Arrears and Recoveries |

Personal insolvencies in England & Wales  increased by 0.2% to 9,106 in August 2021 compared to July’s figure of 9,090, and were 42.7 % higher than August 2020’s figure of 6,381 according latest Insolvency Services figures. There were, 614 bankruptcies were registered, which was 22% lower than August 2020 and 54% lower than August 2019.…

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Business insolvencies rise in August

20th September 2021 Business |

Latest figures from the Insolvency Service have indicated that business insolvencies increased by 22.9% to 1,348 in August 2021 compared to July’s figure of 1,097, and increased by 71.1% compared to August 2020’s figure of 788. In August 2021 there were 1,256 Creditors’ Voluntary Liquidations (CVLs), which is the highest level seen in the series…

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Call for support for struggling homeowners as furlough ends

20th September 2021 Arrears and Recoveries |

UK Finance and the Building Societies Association are calling for important changes to be made to the Support for Mortgage Interest (SMI) scheme to help struggling homeowners as the furlough scheme draws to a close. SMI is a government loan scheme that helps homeowners who are in receipt of benefits1, but as it stands, they…

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Ofgem appoints EDF to take on customers of Utility Point

20th September 2021 Consumer Collections |

Ofgem has appointed EDF to take on supplying Utility Point’s approximately 220,000 domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers. EDF is offering customers a competitive tariff. Outstanding credit balances, including money owed to both existing and former customers of Utility Point will also be…

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Credit card spending decreases whilst debit card spending increases 22%

20th September 2021 Consumer Collections |

The amount spent on credit cards has fallen, compared to pre-pandemic times according to the latest UK Finance card spending figures. Debit card usage has soared by 22% in June while contactless payments have leapt 70% in the past two years. The figures showed that there were 1.9 billion debit card transactions in June, 46.6…

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Rental arrear woes easing for landlords

20th September 2021 Arrears and Recoveries |

Research by the nationwide buy-to-let specialist, Sequre Property Investment, has revealed that the tide of pandemic rental arrears woes that have impacted one in five landlords could be starting to turn, as the majority are now seeing a reduction in the level of late rental income owed to them. The survey of nearly 4,000 UK…

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UK debt market hits record heights in first half of 2021

20th September 2021 Arrears and Recoveries |

New research by GCA Altium has indicated that the UK debt market hit record heights in the first half of 2021. The research showed that a record number of refinancings and recapitalisations were completed in the first half of 2021 in the UK. Data provided by the firm’s MidCapMonitor identified that over the course of…

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Scottish business insolvency numbers double in August

20th September 2021 Appointments |

Latest figures released by Accountant in Bankruptcy (AIB) have indicated that Scottish business insolvencies rose by 36% in August 2021. In August 2021 there were 89 company insolvencies registered in Scotland, approximately double the number than in August 2020 and 13% higher than in August 2019. This was comprised of 11 compulsory liquidations, 76 CVLs…

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Northern Irish personal and business insolvencies increase

20th September 2021 Consumer Collections |

Latest statistics from the Insolvency Service have shown that Northern Irish personal and business insolvencies numbers increased in August when compared to 2020’s figures. In August 2021 there were 148 personal insolvencies in Northern Ireland, 38% higher than August 2020 but 28% lower than August 2019. This consisted of 127 IVAs, 15 DROs and six…

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