Credit, Collections & Insolvency News
The Government has launched a new consultation which is launched aimed at extending debt solutions and helping vulnerable people in financial distress get a fresh start. The proposals have been outlined by the Government to increase the financial eligibility criteria for debt relief orders (DROs), helping more people deal with financial difficulties to get a…
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The Government has extended the eviction ban, which was due to end on Monday 11th January (today), The Government says that renters will continue to be supported during the new national restrictions, with an extension to the ban on bailiff evictions for all but the most egregious cases for at least 6 weeks –until at least…
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The UK’s two leading enforcement association trade bodies the Civil Enforcement Association (CIVEA) and the High Court Enforcement Officers Association (HCOEA) and Just have welcomed the High Court judgment on non-entry Controlled Goods Agreements. CIVEA, the HCEOA and Just have issued this joint statement which also invites the Ministry of Justice (MoJ) to review the…
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Ascent Performance Group, the financial services outsourcing business and part of the Irwin Mitchell Group, has announced that it has acquired Excel Collection and Enquiry Services. Ascent says that the deal will strengthen its market-leading position in the provision of field and affordability services to major financial institutions such as banks and building societies. The…
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Citizens Advice Scotland (CAS) is warning of a council tax debt ‘explosion’ as the impact of the pandemic makes a bad situation even worse in 2021 as clients have racked up millions in arrears. Council tax debt is currently the number one debt issue the Citizens Advice Bureau network sees. Analysis of figures for 2019/20…
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Half a million private renters in the UK are behind on their rent, with protections against eviction due to expire this weekend, according to new analysis by Citizens Advice. The charity has warned that the news comes as the country enters another period of national lockdown, causing further economic hardship. Renters have already been badly…
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Credit Connect has published its second annual Credit & Collections Technology company power list for 2020. The power listed is a round-up of the most prominent innovating companies within credit and collections technology. Within the list, Credit Connect has identified the top 20 ‘Premier’ innovators highlighting the achievements and successes of the top-performing companies. The…
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New figures from the Insolvency Service have shown that personal insolvencies in England and Wales fell by 22% in November 2020, with 9,319 personal insolvencies compared to October’s figure of 11,945, and were 3% lower than November 2019’s figure of 9,568. Both DROs and Bankruptcies fell by around one third in November 2020 compared with…
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The winners of the 2020 Credit & Collection Technology Awards have been announced following a live interactive virtual awards broadcast yesterday (Thursday 19th November). The awards are the flagship event for innovational technological professionals working in credit and collections and the fourth annual event honoured the UK’s technological innovators, celebrating outstanding achievement across nineteen hotly…
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Enforcement specialist Just has announced that it has appointed Charlotte Smith to their finance division. Smith joins Just at a time of rapid expansion and takes the position of Financial Controller where she will be overseeing accounting activities, ensuring prompt payments and maintaining accurate ledgers as the company grows. Nick Georgiades, Managing Director at Just…
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New figures from the Insolvency Service’s latest personal insolvency figures have risen by 60% in October 2020 when compared to September in England and Wales. Personal insolvencies increased to 11,939 in October 2020 compared to September’s figure of 7,458, and were higher than October 2019’s figure of 10,030. There were, on average, 6,154 IVAs registered…
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The High Court sat for a second time in a case led by the enforcement market integrator, Just to establish if debtors should be given the opportunity to request a virtual enforcement visit during these difficult times of Covid-19. The company says that it believes that the enforcement process needs to reflect the new realities…
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A new report has found ‘widespread unfairness’ in the way in that central and local government collects debts including council tax, benefit and tax credit overpayments. The Money Advice Trust is calling for the government to ‘level up’ its debt collection practices to those of other sectors or risk pushing people further into difficulty in…
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