Intrum Justitia has entered into an agreement to acquire 1st Credit, a mid-sized purchased debt company in the United Kingdom. The purchase price on a cash and debt free basis is about £130 million, attributable to a diversified portfolio of receivables, deriving from investments from several sellers in the financial industry. 1st Credit generated earnings…

Nearly two years on from tough regulations implemented by the Financial Conduct Authority, the payday loan market continues to show signs of irresponsible lending and poor treatment of people in financial difficulty, according to a new report from StepChange Debt Charity. The proportion of people coming to the charity with payday loan debts has fallen from…

Here is an overview of The Money Charity’s latest statistics for November 2016: Personal debt in the UK People in the UK owed £1.503 trillion at the end of September 2016. This is up from £1.451 trillion at the end of September 2015 – an extra £1036.58 per UK adult. Per adult in the UK…

Household debts have risen to £1.5 trillion in the UK for the first time, new statistics from The Money Charity. After a period of flat growth, debt has begun to rise again in recent years. The Money Charity, which compiled the statistics, says UK adults owe an average of nearly £30,000 each – mostly in…

Perth and Kinross Council was forced to write-off nearly £300,000 of outstanding debts mainly due to rent arrears. In response to the problem the local authority launched its Rent 1st campaign to highlight the importance of making payments and offering extra support and advice for people who are struggling to pay. Now the housing and health…

A new report suggests that a failure to address financial difficulty in the main NHS talking therapies programme is holding back the recovery of tens of thousands of people with depression and anxiety. A quarter of people with ‘common’ mental health conditions like depression or anxiety are also in problem debt, which is likely to be holding…

Over 6.5 million households are in debt, or face the prospect of falling into debt within a month, should they lose their jobs, according to new research from The Equality Trust. Over 40 per cent of non-retired households have too little saved to pay even a month’s worth of household bills, the research finds. A non-retired household in…

The Insolvency has published the latest Insolvency statistics between July & September. The key finding from the statistics was that total individual insolvencies increased for the fifth consecutive quarter, driven primarily by an increase in individual voluntary arrangements. Bankruptcies increased this quarter. It is likely that changes to the bankruptcy application process have affected the…

The number of people going insolvent across England and Wales is expected to increase. Experts have suggested the days of falling personal insolvency levels may be coming to an end as consumers grapple with underlying debt problems. Official figures for the third quarter of this year, which will be released by the Insolvency Service, show the…

A new CfRC report calls for an expansion of debt advice and financial support services for low paid workers and private tenants. The research (‘Improving the Financial Health of Low Income Groups’), which was supported by the JPMorgan Chase Foundation, reviewed how low income households are currently being supported to manage their money, save for the…