Credit, Collections & Insolvency News
The gap between how well the best and worst performing energy suppliers are at dealing with customer complaints is the widest on record, Citizens Advice reports. Extra Energy performed 80 times worse than the best performing supplier SSE, according to the charity’s latest energy complaints league table. Citizens Advice publishes the quarterly results to show customers…
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A report by StepChange debt charity has found that the number of people seeking debt advice, who owe money to family and friends is rising and the average amount borrowed is now more than £4,000. The charity’s figures from the first half of 2016 show that 28% of the charity’s clients now owe money to…
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New research from Echo Managed Services has found that one in four people want businesses to contact them via digital channels in order to settle their debts. 25% of the 1,500 consumers questioned said digital means, such as SMS or email (particularly when these are linked to an online payment portal) would likely lead to payment of a debt. 40%…
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New research from Equifax has found that 32% of people in the UK have had to borrow money from friends or family. The online survey, conducted by YouGov, found 31% of these loans were to pay for household essentials such as food, 23% to pay for car repairs and 18% to pay for utility bills…
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New research by the National Debtline has found that 37% of 18 to 24 year olds are already in debt, owing an average of nearly £3,000 (excluding student loans and mortgages). Young people are building up debt and worrying about money in their first few years of adult life, but far too few are seeking advice…
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Arrow Global Group PLC have received their full Financial Conduct Authority (FCA) authorisation. The group includes Capquest Debt Recovery. Commenting, Tom Drury, Group Chief Executive Officer, said: “We are delighted to have received the necessary FCA authorisations. They are an important milestone for the Group and are core to delivering on our strategy.”
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Londoners are more likely to be struggling with debt than the rest of the UK costing the city £1.4 billion a year according to a new report from StepChange Debt Charity. The report shows that the charity’s clients living in the capital owe more on credit cards and loans, have higher arrears on bills meaning that they…
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Noble Systems has been announced as a winner at the 2016 Tech Culture Awards winner by TMCnet. The Award honours technology organisations who have developed a positive, productive and performance-driven culture and fostered a creative, collaborative workplace environment. To receive the award, Noble Systems demonstrated its commitment to growth through providing a truly distinct and upbeat environment.…
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A report from the Council of Mortgage Lenders (CML) has outlined statistics indicating that the number of mortgages in arrears continued to fall in the second quarter of this year and are now at its lowest level since records began more than 20 years ago. The CML data shows that at the end of June there were 92,500…
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Here is an overview of The Money Charity’s latest statistics for August 2016: Personal debt in the UK People in the UK owed £1.484 trillion at the end of June 2016. This is up from £1.444 trillion at the end of June 2015 – an extra £777.90 per UK adult. Per adult in the UK…
Read moreLatest statistics from The Money Charity have revealed that English students owe more than ever before. The average debt for the graduates who entered repayment this year was £24,640, up from £21,170 in 2015. Due to incremental rises to tuition fees and maintenance loans, the sum owed by students has risen steadily for the past decade,…
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The study by Shelter and YouGov found that one in three families have little or no personal savings to fall back meaning that a staggering three million working families could be just one pay cheque away from losing their home. The research also revealed that a fifth of working parents face the prospect of being immediately unable to…
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Car sales slowed last month following Britain’s decision to leave the European Union. New car registrations went up by 0.1% to 178,523 in July, according to the Society of Motor Manufacturers & Traders. Full statistics from the report can be found here.
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