Credit, Collections & Insolvency News
The Department for Work and Pensions (DWP) has announced new measures which could see welfare fraudsters, who cheated the taxpayer out of £7 billion last year, banned from driving if they repeatedly fail to reimburse the public and repay their debt. As part of new legislation set to be introduced in Parliament to deliver the biggest…
Read more
Latest data from Accountant in Bankruptcy has found that personal insolvency numbers (bankruptcies and protected trust deeds) in Scotland for Quarter 3 (Q3) 2024-2025 decreased by 11.4% compared with the same quarter in 2023-2024, which totalled at 1,784. The number of personal insolvencies (bankruptcies and protected trust deeds) in Scotland also decreased by 6% when…
Read more
Latest data from UK Finance has found that in Quarter 3 (Q3) in 2024 there were 48,862 new buy-to-let loans advanced in the UK, worth £8.6 billion. This was up 6.5 per cent by number (8.9 per cent by value) compared with the same quarter in the previous year. The average gross buy-to-let rental yield…
Read more
A coalition of organisations including StepChange Debt Charity, Christians Against Poverty, Money and Mental Health Policy Institute, Money Advice Trust and six others has written to the Government reiterating a call to end imprisonment for non-payment of council tax. The coalition claims the rule is “outdated” and “disproportionate,” as it continues to campaign for reform…
Read more
Time Finance has announced the appointment of Greg Hussey as Head of Risk in its Invoice Finance division. Hussey joins with over 30 years of experience, most recently as a consultant working with a niche invoice financier, as well as Head of Risk at Santago Financial Solutions and Managing Director at Calverton Finance. He has held…
Read more
Bluestone Credit Management has announced that it has appointed Simon Frost to the role of Head of Business Development. Frost who joins from Lowell Financial and has almost 20 years of experience in the credit and debt management sector. Bluestone’s Managing Director Deborah Stokes said “As a long established credit management business, at Bluestone Credit…
Read more
Latest data from the Insolvency Service has found that the construction sector experienced the highest number of insolvencies by business sector in the 12 months to November 2024 at 4,102, accounting for 17% of all industry cases. The data showed that Wholesale and retail trade; repair of motor vehicles and motorcycles (3,618, 15% of cases…
Read more