14th June 2023 - Credit Connect

Call to involve private sector court users in enforcement of Judgments and Possession Orders

14th June 2023 Consumer Collections | #enforcement

The Civil Court Users Association (CCUA) is is calling on the Ministry of Justice (MoJ) and HM Tribunals and Courts Service (HMCTS) to consider far greater involvement by private sector court users in the enforcement of Judgments and Possession Orders to address performance issues. The call follows reports that some property possession appointments in the…

Silicon Credit Management appoints Chief Operating Officer

14th June 2023 Appointments |

Silicon Credit Management, a provider of credit management solutions, has announced that its has appointed Rob Sands as its new Chief Operating Officer. Sands brings almost 20 years of operational leadership and financial services experience, making him a valuable addition to the team. he has a proven track record in the financial industry, having served…

Mortgage approvals fall

14th June 2023 Consumer Lending | #mortgages

Latest Bank of England data £48.9 billion of new mortgages were approved for the coming months down 16.1% in a quarter, 40.7% in a year and the lowest since Q2 2020.The figures showed that £58.8 billion in mortgages was borrowed in the first three months of 2023 down 23.6% in a year and the lowest…

5.5 million people behind on energy bills

14th June 2023 Arrears and Recoveries | #arrears

An estimated 5.5 million people (one in ten adults) were behind on their energy bills in April, an increase of 2.1 million compared to March 2022 according to new research from the Money Advice Trust, the charity that runs National Debtline and Business Debtline. The charity’s Under Pressure research, based on an Opinium survey…

Disabled bank customers slam ‘abysmal’ services

14th June 2023 Consumer Lending |

More than half (52%) of disabled bank customers say that bank branch closures have had a negative impact on their ability to access vital banking services, amid widespread closures by high street firms, a Which? survey has found. The consumer champion surveyed over 2,700 bank customers with disabilities and found some face major obstacles when…

Navigating the ever-evolving compliance landscape

14th June 2023 Industry opinion |

As regulatory requirements evolve, debt collection agencies regulated by the Financial Conduct Authority (FCA) in the UK must continually adapt their compliance strategies to ensure they remain up to date. In this article, I look at how our industry can stay ahead of the changes, utilising various tools and digital solutions to uphold compliance, meet…

Less than half of children have been taught about money

14th June 2023 Customer Insight and Analytics |

Less than half of children have been taught about money at home or in school, according to a new report from the Money and Pensions Service (MaPS). Financial Foundations, based on a survey of 4,740 children aged 7-17, found that just 47% had received a meaningful financial education in either or both settings. The figure…

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