Credit, Collections & Insolvency News
The number of county court judgments (CCJs) against consumers in England and Wales rose to the highest level in over a decade during the first quarter of the year, according to figures released today by Registry Trust. In Quarter 1 (Q1) 2017, there were 298,901 debt judgments registered against consumers in England and Wales. Rising…
Read moreNew figures released by the Finance & Leasing Association (FLA) show growth of 10% in consumer finance new business in March, compared with the same month last year, and 6% growth in Q1 2017 as a whole. Credit card and personal loan new business together grew in March by 7%, compared with the same month…
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Figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer new car finance market grew 13% by value and 5% by volume in March, compared with the same month in 2016. In Q1 2017, new business was up 10% by value and 3% by volume,…
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New figures released by the Finance & Leasing Association (FLA) show that the number of second-charge mortgage repossessions in Quarter 1 2017 was 17 – down by 50% compared with the same quarter in 2016. Commenting on the figures, Fiona Hoyle, Head of Consumer and Mortgage Finance at the FLA, said: “The number of second-charge…
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The latest UK Personal Debt Index (PDI) has found that the number of young people seeking help with personal debt rose by +7.8 per cent in the first quarter of 2017. Individuals aged between 20 and 25 accounted for over one in ten of those undertaking support for their personal finances in the first three…
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Cifas, has released a new report detailing the fraud trends from over 325,000 fraud cases recorded in 2016. The data, from 387 organisations, including many major UK brands, is one of the most comprehensive pictures of fraud and fraudulent attempts made in the UK. Key findings from the Cifas’ annual report Fraudscape include: Over 325,000…
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Research from Equifax has revealed that 60% of consumers think that fewer than three security steps, including passwords, card readers or letters from a memorable word, are insufficient to assure their bank account is secure and not accessible by other people. The online survey, conducted by YouGov, found just over a fifth of the British…
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The latest research from Plentific.com, an online home service marketplace, has found that financial help from the Bank of Mum and Dad isn’t just limited to purchasing a property; it also extends to improving the home. A fifth of homeowners (18%) say they rely on the Bank of Mum and Dad to help finance home…
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Here is an overview of The Money Charity’s latest statistics for May 2017: Personal debt in the UK People in the UK owed £1.529 trillion at the end of March 2017. This is up from £1.484 trillion at the end of March 2016 – an extra £886.84 per UK adult. The average total debt per…
Read moreThe Bank of England’s latest money and credit statistics have revealed that mortgage approvals have fallen to a six month low. The statistics also show an increase in consumer debts such as credit cards and loans. The Bank of England’s figures for March 2017 show consumer credit increased by 10.2% in the year to March, to…
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Just one in ten (10%) British adults say they have received useful advice about personal finance through their school or college, a new survey of over 2,000 British adults by insolvency and restructuring trade body R3 and ComRes has found. A similar proportion, 11%, say the advice they received via public education was not useful.…
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There were more small claims decrees for debt against Scottish consumers in Quarter 1 (Q1) 2017 than in any other first quarter on record, according to figures released today by Registry Trust. In the first quarter of the year, 6,879 debt decrees were registered against consumers in Scotland, over a third higher than the same…
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A study, by the International Longevity Centre-UK (ILC-UK), supported by the Building Societies Association (BSA) has found that borrowing into older age is likely to move from niche to mainstream within the next decade. The amount of mortgage debt held by over 65s is set to increase by more than £19 billion by 2030 (from…
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