Credit, Collections & Insolvency News
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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The Insolvency Service has published its latest analysis on personal insolvencies for Q3 2020 which indicates that. numbers decreased to 19,783 in Q3 2020, down 40% on Q2 2020, and down 37% on Q3 2019. The quarterly decrease in personal insolvencies was mainly driven by a sharp drop in Individual Voluntary Arrangements (IVAs), although a…
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THE number of people missing card and loan repayments has jumped in recent weeks, according to Which? An estimated 370,000 more people defaulted on a credit card or loan in October than in September, increasing from 410,000 to 780,000, the consumer group’s UK survey findings indicate. The latest findings from Which?’s consumer insight tracker reveal…
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The number of decrees and total amount of debt registered against Scottish consumers fell by 42 percent in the third quarter (Q3) of 2020, according to figures released by Registry Trust. The number fell from 4,859 to 2,805, with the total value falling from £13.2 million to £7.6 million compared to the same period last…
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The number of debt judgments registered against Northern Ireland consumers in the third quarter (Q3) of 2020 was just 608, a huge fall of 66 percent compared to the 1,781 registered in the same period last year, according to new figures by Registry Trust. The fall in the total value of judgment debt owed in…
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The number and total value of judgments registered against Irish consumers saw a huge fall in the third quarter (Q3) of 2020 compared to the same quarter last year, new figures released by registrar Irish Judgments show. The number of judgments against consumers fell by 81 percent, from 678 to just 126. The total value…
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