The Insolvency Service has published its annual performance data for 2020 about Individual Voluntary Arrangements (IVAs). The figures show that early termination rates of IVAs have dropped 11% in the past year, while total IVAs have risen by almost 20,000 since 2018 and that IVAs have risen steadily on an annual basis since 2015, although…

The Social Market Foundation (SMF) estimates that nearly 770,000 families are at risk of losing their homes if they suffer a loss in income when a ban on repossessions ends in April. The Social Market Foundation think tank analysed official data and found that of the 770,000 at risk of repossession, a quarter (26%) worked…

Nationwide Building Society has launched a new start-up challenge to help tackle the Poverty Premium. The company says that Covid-19 has had a detrimental impact on the finances of many households – a situation that will be exacerbated when the furlough scheme ends. Some estimates suggest that almost 700,000 additional people faced poverty during the…

Two in five families would fall into debt if the cost of their energy were to increase, according to the latest Household Financial Confidence Tracker from comparethemarket.com. If their energy bills were to rise, 44% of families with children at home believe that it would push them into debt with their energy provider– double the…

The Financial Conduct Authority (FCA) has published final guidance clarifying its expectations of firms on the fair treatment of vulnerable customers. The guidance aims to drive improvements in the way firms treat vulnerable consumers so that they are consistently able to achieve outcomes that are as good as everybody else. People can find themselves in…

Scottish personal insolvencies in December 2020 fell  38.6% when compared with January 2020 numbers. The figures released by Accountant in Bankruptcy (AIB), Scotland’s Insolvency Service which administers company liquidations and receiverships in Scotland showed that in January 2021 that there were 8,412 personal insolvencies in the 12 months to January 2021 (inclusive), 5,289 (38.6%) fewer…

Latest statistics from the Insolvency Service have shown that personal insolvencies in England & Wales decreased by 13.7% to 8,305 in January 2020 compared to December’s figure of 9,623, and were 20.8% lower than January 2020’s figure of 10,482. Overall, numbers of individual insolvencies have remained low since the start of the first UK lockdown…

A joint statement by The Big Issue Ride Out Recession Alliance, Crisis, Citizens Advice, Joseph Rowntree Foundation, Money Advice Trust, The Mortgage Works, National Residential Landlords Association, Nationwide Building Society, Propertymark, StepChange Debt Charity and Shelter has urged that the Chancellor takes action to tackle the rent debt crisis. The group says that at least…

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