UK Finance has published a new report in association with EY which indicates that today’s social media savvy consumer taking advantage of more banking webchat services than ever before. The Way We Bank Now report, reveals that the popularity of services such as Twitter, Facebook Messenger and WhatsApp, is encouraging banks to invest in similarly fast and…
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Over two-thirds (70%) of UK consumers would like customer service to be more convenient and offer more channels to get in touch with organisations, according to a new report, ‘Customer engagement – the road to 2020’, commissioned by West Unified Communications Services. This shows that contact centres are still behind in offering digital technologies that…
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Nearly two-thirds of UK adults (63%) say that stress over money has affected the mental health or wellbeing of someone they know according to new research from the Money Advice Service released in support of Mental Health Awareness Week. Adults in the UK are most likely to have been worried about the mental well-being of…
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Debt Purchaser Lowell, has announced its latest set of quarterly results for the period 1 January to 31 March 2018. Commenting on the results Colin Storrar, CFO, said: “We have built on the momentum of the final quarter of last year and started 2018 positively. Focus has been maintained on the delivery of our core strategy…
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More than half (52%) of people feel there is a negative stigma attached to asking their credit card provider for help if they fall into debt, according to new research. 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. It…
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Just under seven million Brits believe they are living debt free despite owing millions, according to the first consumer debt profile from uSwitch.com. The research shows that while three quarters (74%) of consumers are in debt, one in five (14%) don’t realise their monthly bills, for example, their car insurance or store card payments, is actually repaying…
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The debt collection industry has taken a step towards stopping people in debt with mental health problems from having to pay to prove their condition at the very time they are least able to afford to do so. Coinciding with Mental Health Awareness Week, the Credit Services Association (CSA), the voice of the UK debt…
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More county court judgments (CCJs) were registered against consumers in England and Wales during Q1 2018 than any other quarter since current records dating back to Q1 2005 began, according to figures released by Registry Trust. During Q1 2018, 305,877 judgments were registered against consumers in England and Wales – over double the 150,622 consumers…
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The Credit Services Association (CSA)has appointed Mark Buckley as its new Head of Sales. Buckley’s immediate task is to secure further sponsors and delegates for the UK Credit and Collections Conference (UKCCC) 2018, which takes place on 13 September at the Crowne Plaza in Stratford-Upon-Avon. Mark will also be selling the benefits of CSA Apprenticeships…
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The HMRC has increased its spend on private sector debt collectors by 62% in the last year to £39m in 2017, up from £24m in 2016, says UHY Hacker Young, the national accountancy group. UHY Hacker Young says that the steep rise in spending on private sector debt collectors could suggest that HMRC may be…
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Here is an overview of The Money Charity’s latest statistics for May 2018: Personal debt in the UK People in the UK owed £1.584 trillion at the end of April 2018. This is up from £1.53 trillion at the end of April 2017– an extra £1,026.74 per UK adult. Per adult in the UK that’s an average debt of £30,601 in…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q1 2018 was 46, up from 25 in the first quarter of 2017. The rate of second charge mortgage repossessions (as a percentage of outstanding agreements) was 0.09% in the twelve months to March 2018.…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business fell 10% by value and 13% by volume in March, compared with the same month in 2017. In Q1 2018 as a whole, new business increased 1% by volume compared with the same quarter in 2017. Fiona Hoyle,…
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