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.…

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…

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…

Excel Collections & Enquiry Services Limited has announced the appointment of Laurence Venn as Chief Executive Officer (CEO) following the retirement of David Thorpe. Venn is a highly experienced credit & collections professional. His career spans over 30 years and has held senior collections leadership positions at Lloyds Banking Group, Permanent TSB in Dublin and more…

Here is an overview of The Money Charity’s latest statistics for April 2018: Personal debt in the UK People in the UK owed £1.578 trillion at the end of February 2018. This is up from £1.53 trillion at the end of February 2017– an extra £1,169.92 per UK adult. Per adult in the UK that’s an average debt of…

According to research by Callcredit Information Group, 30% of consumers see defaulting on a loan payment as being the fault of the lender rather than the borrower. The study also revealed that consumers are increasingly feeling financial pressure, with almost half (45%) saying the financial burden on their personal finances has increased and that they…

Target Group, the business process outsourcing and operational transformation provider, has today announced it has been selected by the BBC, following an EU procurement process, to deliver the ‘Simple Payment Plan’ (SPP). Target was awarded a two-year contract with an option to extend for up to a further two years. The Government introduced legislation in…

Debt Purchaser Lowell has announced its latest results for its full year ended 31 December 2017. The results show double-digit growth across all key metrics. The addition of the Carve-out Business from Intrum as a new Nordic region, which successfully completed after the close of the period, brings further strategic diversification and growth opportunities for…

The Credit Services Association (CSA) is concerned that new guidelines for debt advisors could keep customers in debt for longer by failing to reflect their true financial position, and in the worst case push them into unnecessary and potentially damaging insolvency. The CSA believes that the revised guidelines – presented by the Money Advice Service…

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