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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The number of mortgages in arrears fell slightly in the first quarter of 2017, and is down on both the previous quarter and a year ago, according to the Council of Mortgage Lenders (CML). There were 92,600 mortgages in arrears, representing 0.84% of all mortgages, the lowest quarterly rate on record. Within the total…
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OneFamily Funeral has revealed that in the UK between 2012 and 2017 the average price of a cremation increased by a huge 33% from £2,896 to £3,894, while the price of a burial has risen by 26% to £5,446. Comparatively inflation has risen just 11.91% over the same period. The most significant costs are for…
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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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Latest figures released by Christians Against Poverty (CAP) has highlighted the depression, anxiety and stress caused by spiralling personal debt. Three quarters (75%) of the people being helped by Christians Against Poverty (CAP) sought medical attention as they lived with the burden of failing finances. 1,200 debt clients were surveyed with a shocking 38 per…
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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 moreFewer debt judgments were recorded in the Four Courts during the first three months of 2017 than in any other first quarter on record, according to figures released today by Registry Trust. There were 535 judgments registered against consumers in Q1 2017, three percent fewer than the same period last year. It marks the fourth…
Read moreCredtfix is calling on the Scottish Government to widen its offering of debt solutions to Scottish residents struggling with their personal finances, beyond just the Debt Arrangement Scheme (DAS) that has been in place since 2004. Glasgow-based Creditfix wants different solutions to be offered depending on individuals’ personal circumstances. Pearse Flynn, CEO of Creditfix said…
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The number of debt judgments in Northern Ireland fell slightly during the first three months of 2017, according to figures released today by Registry Trust. There were 1,925 small claims judgments in Q1 2017, three percent fewer than the first quarter of 2016. The total value rose by six percent, however, to £3.9m. The average…
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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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New research from Gocompare.com finds that young people’s financial reliance on their parents could be putting families under pressure. The Bank of Mum and Dad picks up bills for food, mobile phones, clothing, cosmetics and transport – as well as treats. The research, commissioned by Gocompare.com Money, looked at the financial help parents of 17…
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