Credit, Collections & Insolvency News
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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Landlord and Tenant Solicitors firm, Landlord Action, says that any extension to the ban on evictions could cause financial ruin to landlords who already had possession cases for rent arrears going through the courts prior to the ban. Some landlords with pre Covid-19 possession cases will find themselves trying to cover more than a year’s…
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The Government has been urged to apply a zero rating to VAT on High Court enforcement fees by the High Court Enforcement Officers Association (HCEOA). In its response to a Ministry of Justice consultation on the issue, the HCEOA this week said new regulations on VAT fees needed to be simple, fair and consistent. As…
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New figures released by the Finance & Leasing Association (FLA) show second charge mortgage new business volumes fall by 14% in March 2020. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “The disruption caused…
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The latest figures from the Insolvency Service have shown that total insolvencies increased in Northern Ireland in Q1 2020. There were 621 individual insolvencies in Northern Ireland in Q1 2020. This was an increase of 7.4% compared with the same quarter of the previous year. In Q1 2020 there were 621 insolvencies, up 7.4% on…
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Latest figures from Accountant in Bankruptcy, Scotland’s Insolvency Service have indicated that personal insolvencies decreased in Scotland in Q1 2020 There were 3,156 individual insolvencies in Scotland Q1 2020. This was a decrease of 3.8% compared to the same quarter of the previous year. This comprised of 1,129 sequestrations (of which 455 went into sequestration…
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Barclays has issued a warning about the cost of the pandemic in its latest financial results, which saw that pre-tax profits fell to £913 million amid Covid-19 crisis. The company says it could be forced to take a £4.5 billion charge to cover bad debts in 2020 as a result of the coronavirus pandemic. The…
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The UK’s largest debt advice charities have welcomed emergency legislation banning bailiffs from visiting homes to enforce debts during Covid-19 restrictions – but say the Government ‘must go further’ in helping people struggling with council tax bills as a result of the outbreak. Citizens Advice, Money Advice Trust and StepChange Debt Charity raised concerns with…
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The number of judgments against Northern Ireland consumers increased by 4.6 percent in Q1 (January-March) 2020 compared to the same period last year, from 1,411 to 1,476, according to figures released today by Registry Trust. But the amount owed in judgment debt by Northern Irish consumers fell from just under £5 million to £3.2 million,…
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The number of County Court Judgments (CCJs) issued against consumers fell 16 percent in Q1 (January-March) 2020 compared to the same period last year, according to figures released by Registry Trust. The number is down from 321,281 in Q1 2019, to 269,249 this quarter. The number of consumer judgments in England & Wales issued this…
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Just has announced that it has appointed Charlie Horner as a Principal Consultant. Horner has previously worked at TDX Group and Experian and joins to head up the company’s solution design team. Horner will help develop Just’s digital marketplace solutions in order to bring a new, fresh and independent provider’s approach to the market of…
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