Accountant in Bankruptcy (AiB) has released official statistics reporting personal insolvencies in Scotland for the fourth quarter (January to March 2018) of 2017-18. Provisional estimates show that in 2017-18 personal insolvencies in Scotland increased by 4.7% to 10,503 from 10,032 in 2016-17. Estimates for 2017-18 are provisional until final figures are published in July 2018.…

The total value of consumer debt judgments registered in the Republic of Ireland topped €100m in Quarter 1 of 2018, for the first time during a single quarter since Q3 2015, according to figures released today by Registry Trust. Four hundred and seventy-one judgments were issued against consumers during the first quarter of the year,…

Further to the independent Review of the Funding of Debt Advice, led by Peter Wyman in January, the Debt Advice Steering Group (DASG) has announced its considered responses in detail and priorities which includes: increasing capacity in the sector by 50%; broadening the base of organisations who contribute to funding; measures which ensure high-quality advice;u…

The Irish Central Bank has published its April update on the Tracker Mortgage Examination, showing that, at end-March, banks and smaller lenders had paid out €459 million to customers affected by their failings. This is an increase of €162 million since the December update on the Examination. The update also showed that an additional 3,400…

Levels of arrears and repossessions are expected to grow this year, according to Jackie Bennett, Director of Mortgages at UK Finance, at the UK Finance Speaking at a UK Finance annual mortgage lunch,  Bennett noted that arrears were at a historic low in 2017 with 89,000 people with arrears balances of 2.5% or more of their…

Greater organisational collaboration across the financial services sector, working alongside law enforcement and Government agencies, will be the key means of putting cybercriminals out of business according to the latest report from UK Finance and KPMG launched today. The report, “Staying Ahead of Cybercrime”  discusses how greater cooperation both within businesses and between firms, law enforcement…

New research has found severely low levels of awareness about the support systems available to utility customers who find themselves in circumstances of vulnerability. The study, completed by outsourced customer contact specialist Echo Managed Services, surveyed 1,000 UK residents on their experiences, knowledge and attitudes to household arrears. Key amongst the report findings was that…

The Financial Conduct Authority (FCA) is urging the public to be alert to the growing threat of loan fee scams targeting borrowers. This plea comes as last year over £3.5 million was lost to loan fee fraud and reports to the FCA consumer helpline increased by 44%. Victims of loan fee fraud are often targeted…

More than four in 10 consumers have admited they struggle to make ends meet financially, a study has found. The findings, from a survey of 2,000 UK adults, revealed 43 per cent are short of the cash they need to pay the bills an average of seven months each year.But one quarter said money is…

Arum has announced that is has successfully achieved world-class, globally recognised ISO certifications for its consultancy, credit management, debt collections and recovery services across the UK. These standards ensure our clients have additional confidence that the service received from Arum is of ISO standard, reliable and of good quality, with a robust management system in…

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