Credit, Collections & Insolvency News
The Government has announced it will extend renter eviction measures by two months. The announcement by the Housing Secretary means that millions of renters across England and Wales will receive greater protection after the government extended the suspension of new evictions until 23rd August taking the moratorium on evictions to a total of five months.…
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Following the news that the Civil Enforcement Association (CIVEA) has announced plans to introduce a phased return of bailiff visits following the lifting of lockdown restrictions. StepChange is urging the Government to regulate the bailiff industry and to implement additional measures to support those hardest hit by the pandemic. The debt charity says that thousands…
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The Scottish Building Society has pledged a 12-month pause on repossessions as it looks to support customers amid the coronavirus pandemic. It is also extending a three-month mortgage break to six months. Scottish Building Society is also encouraging landlords to help those struggling to pay rent, by offering mortgage holidays if they pass on the…
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Enforcement Agents (bailiffs) will implement a phased return to activity following the lifting of lockdown restrictions. The measures are set out in a Post-lockdown Support Plan announced by the Civil Enforcement Association (CIVEA). CIVEA consulted the government on the Post-lockdown Support Plan that will mean local authorities and courts can safely enforce overdue council tax,…
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The Financial Ombudsman Service has published annual complaints data which showed that it received over 270,000 new complaints about financial businesses in the 2019/20 financial year. PPI remained the most complained about product, with over 122,000 complaints about PPI received by the service, including a spike in complaints following the FCA’s August deadline for consumers…
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With millions of people facing debt problems because of the pandemic, the Money and Mental Health Policy Institute is urging the Government to save lives by putting an end to threatening debt letters. Money and Mental Health’s research shows that rules in the Consumer Credit Act (1974) compel lenders to send intimidating letters to people…
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One-in-eight (13 per cent) private renters have fallen behind with their housing costs since the coronavirus crisis started, compared to just one-in-twelve (8 per cent) mortgaged home owners, highlighting how the pandemic has exacerbated Britain’s housing divide, according to new Resolution Foundation research. The report, based on a YouGov survey of 6,005 UK adults aged…
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Enforcement specialists, Bristow & Sutor have announced that they are working with Transport for London (TfL) collecting unpaid Penalty Charge Notices at warrant stage for all road charging schemes and traffic enforcement contraventions. The company says winning the debt management and enforcement contract with TfL has resulted in the production and implementation of new letters, business rules, action codes and reports. Bristow…
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Nationwide Building Society has pledged to suspend repossessions of borrower’s homes for the next 12 months as part of a packet of measures to support customers. Nationwide says it will offer borrowers flexibility around repayments, which may include temporarily moving onto interest-only. The lender has announced a five-point support package designed to help protect the homes…
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The UK’s three largest debt charities have called on the Government to change ‘ineffective’ regulations on how councils collect council tax arrears to protect households who have fallen behind due to the coronavirus pandemic. Citizens Advice, the Money Advice Trust and StepChange Debt Charity fear that with council tax enforcement measures likely to restart soon,…
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The Insolvency Service has published its latest insolvency statistics which have released that the overall numbers of individual insolvencies dropped in the days immediately after the UK lockdown was applied. The figures show that were 10,397 individual insolvencies in April 2020 in England and Wales, consisting of 8,093 individual voluntary arrangements (IVAs), 1,496 debt relief…
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The Accountant in Bankruptcy, Scotland’s Insolvency Service that administers person insolvencies in Scotland has published its statistics for April 2020 which indicated that there were 976 personal insolvencies (bankruptcies and protected trust deeds (PTDs)) in April 2020. Personal insolvencies decreased by 199 (16.9%) less than in April 2019. Bankruptcies decreased by 71.6% in April 2020…
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Just, the enforcement market integrator has appointed Adam Wonnacott, to head up its technology and innovation team. Wonnacott has extensive knowledge of collections and recoveries, having previously held senior director positions at both Burlington and Marston Holdings, where he spent time as Managing Director of their subsidiary MoretonSmith. Since 2019, Wonnacott has been working with…
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