Credit, Collections & Insolvency News
UK Finance has published its Mortgage Arrears and Possessions Update for the fourth quarter of 2018, which saw 4580 homeowner possessions in 2018, the lowest level since 1980 when there were 3480 possessions. During this period, there were 6.2 million outstanding homeowner mortgages, compared to 9 million at the end of December 2018. The data…
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Seven in ten businesses struggle to unlock data’s true potential because of a lack of control, leaving many businesses with untrusted data that undermines business innovation and customer interactions, new research from Experian has revealed. Experian’s Global Data Management report, which surveyed 1,000 data practitioners from organisations around the world, found that although three-quarters (75%)…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in December 2018 by 4% compared with the same month in 2017, and by 5% in Q4 2018 as a whole. Credit card and personal loan new business together grew in December by 5% compared with the same…
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People claiming Universal Credit are still struggling to pay for the roof over their heads, despite the wait for their first payment being reduced from six weeks to five, according to new Citizens Advice data. One in two people the charity helped were in rent arrears or fell behind on their mortgage payments, the same…
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The total number of judgments in 2018 against Irish consumers is at a record low, with consumer judgments down eight percent. However, the value of consumer judgments rose by 22 percent in the same year. There were 1,985 judgments registered against consumers in 2018, eight percent fewer than the previous year and a record low.…
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The Financial Ombudsman Service (FOS) has published its latest quarterly financial products and services complaints data. The statistics include the number of enquiries and new complaints received, the number of complaints referred to an ombudsman’s final decision, and the proportion of complaints resolved in consumers’ favour. The number of complaints about high-cost short term credit (payday…
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The Financial Ombudsman Service (FOS) has released its latest report which shows that it has dealt with around 3,300 inquiries about debt collection and took on over 1,000 new complaints for investigation in 2018. The complaints cover credit and consumer loans, such as mortgages, credit cards and personal or business loans. They don’t include household debts…
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Latest figures from the Insolvency Service for Northern Ireland show that there were 73 company insolvencies between October and December. 34 were compulsory liquidations while 26 were creditors’ voluntary liquidations. There were also eight administrations and five company voluntary arrangements. That total of 73 was 19.8 percent lower than the same quarter in 2017 and…
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The Insolvency Service has published the latest personal insolvency statistics for England and Wales for Quarter 4 2018 (October to December 2018) which show that that the percentage of IVAs failing within the first year has increased for the fourth consecutive year. The figures also show that 9% of IVAs registered in 2011 and 3%…
Read moreNearly one million (900,000) people who’ve never switched energy supplier could cover the cost of their Christmas borrowing by changing to a better deal. New analysis from Citizens Advice shows that around 3.2 million people in Britain borrowed up to £150 to cover the cost of Christmas in 2018, almost 1 million of whom have…
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Here is an overview of The Money Charity’s latest statistics for January 2019: Personal debt in the UK People in the UK owed £1.613 trillion at the end of November 2018. This is up from £1.569 trillion at the end of November 2017, an extra £898.71 per UK adult and £78.15 higher than the previous month. The…
Read moreUK Finance has published its Household Finance update for December 2018 which have revealed that over £11 billion spent on credit cards which showed an 8.8 per cent increase when compared with the same month the previous year. The outstanding level of credit card borrowing grew by 4.7 per cent in the twelve months to December. Personal…
Read moreAlmost half of finance professionals (45%) regard big data as the most influential trend in the financial sector, according to the Onguard’s FinTech Barometer survey. Despite more than one-third of respondents (36%) expecting big data to impact employment, very few think it will actually lead to job losses. In fact, more than three-quarters of finance…
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