Credit, Collections & Insolvency News
Almost half (45%) of British adults say they will be reducing their budget this Christmas, with spend decreasing by a quarter on average compared to last year according to research by TopCashbook. Consumers will be reducing it by a significant sum – on average £280 less than last year. Across the UK this equates to…
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New research from St. James’s Place (SJP) has found that that the nation is lacking in preparation towards their future financial affairs and passing down their digital legacy, as over two fifths (43%) of consumers – 22.9 million people – admit they have not shared all details of their financial accounts with someone they trust. Despite…
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The Money and Pensions Service (MaPS) has announced the appointment of Oliver Morley as its new Chief Executive Officer (CEO). Morley is currently CEO of the Pension Protection Fund (PPF) and will be joining MaPS as our CEO effective from 1 February 2024. Morley brings a unique blend of private sector experience combined with a successful record of leadership as CEO of public sector organisations including…
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The new ‘Help with Fees’ scheme protects universal access to justice by providing those on low income and little to no savings with financial help towards the cost of these fees. In the last year alone, the scheme has provided over £80 million to thousands of people in a wide range of cases such as…
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SME alternative finance provider Thincats has announced the appointment of Dan Hartley as Chief Financial Officer (CFO). Hartley has over a decade of experience in senior financial roles and joins from the Lowell Group, one of the largest credit management companies in Europe, where he was most recently chief investment officer. Prior to joining the…
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Household energy debt has hit a five-year high of £216 ahead of the winter, with the number of homes already owing money to their provider up 11% on last year new research from Uswitch.com, has revealed. The average household debt is up 13% on the £190 figure seen at this time last year, and the number…
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Tthe government has released new figures revealing the amount being spent by local councils on temporary accommodation for homeless households in England was £1.7 billion between April 2022 and March 2023 This is a 9% increase in spending in just one year. It has increased by 62% in the last five years. One third of…
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Myths and misconceptions about the collections process abound, and have done so for years. As the trade body for the collections and debt purchase sector, we wanted to properly understand public opinion about our sector – and the polling evidence we’ve found is a salutary corrective to many of the views that are sometimes given…
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