The Central Bank of Ireland has published its second Quarterly Bulletin of 2020, which focuses entirely on the impact of the Covid-19 pandemic. In terms of its impact on the economy, Covid-19 has triggered a severe economic shock that is fundamentally different in nature and scope from types of shocks previously witnessed. For the Irish…

The Credit Services Association (CSA) is urging its members to review all of their current activities and treatment paths to ensure they are doing everything possible to support their customers and the wider UK community through the current Covid-19 crisis.  The CSA which represents more than 90% of the typically call-centre based firms, says that…

Global information and insights provider TransUnion, has found that three out of five (59%) households are already being negatively financially impacted by the COVID-19 virus, according to a new study. The findings contrasts with research commissioned just before the outbreak for TransUnion’s Consumer Credit 2020 report, where 60% of consumers had stated they had the…

Here is an overview of The Money Charity’s latest statistics for March 2020 Personal debt in the UK People in the UK owed £1,680 billion at the end of January 2020. The average total debt per household, including mortgages, was £60,363 and per adult was £31,845, around 112% of average earnings. Net mortgage lending rose…

High-cost short term lender (Payday lender) Uncle Buck has entered administration. The Financial Conduct Authority (FCA)  had concerns that Uncle Buck Finance was failing to meet the adequate resources Given the severity of these concerns, the FCA has required Uncle Buck to stop lending to customers. Following on from this action, the members of Uncle…

The UK’s three largest debt charities have called on the Government to instruct local authorities in England and Wales to suspend bailiff action for the duration of the Covid-19 outbreak.  The move comes as Citizens Advice, Money Advice Trust and StepChange Debt Charity report that debt advisers have already begun to receive calls about bailiffs…

HMRC has been urged to immediately pause tax collections to keep businesses liquid. The coronavirus outbreak has created unprecedented uncertainty around the world and now requires unprecedented measures to protect the economy and HMRC should immediately pause tax collections according to Alexander Altmann of Blick Rothenberg. Altman said “Supply and demand are the core principles…

Further to the Chancellor’s announcement regarding the mortgage industry’s support for homeowners who are experiencing financial issues due to COVID-19, lenders representing banks, building societies and other specialist lenders have come together to announce additional support for homeowners and residential landlords. In a joint announcement UK Finance and the Building Society Association (BSA) said that…

The government has announced a radical package of measures to protect renters and landlords affected by coronavirus. As a result, no renter in either social or private accommodation will be forced out of their home during this difficult time. Emergency legislation will be taken forward as an urgent priority so that landlords will not be…

Chartsbridge has announced that it has selected public services software solutions company Civica, to deliver an enterprise cloud solution for its collections services. The agreement will provide Chartsbridge with improved visibility and control across regulated collections, recoveries and enforcement activities. The company says that harnessing the capabilities of the cloud, the platform comprises of five…

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