Credit, Collections & Insolvency News
The High Court Enforcement Officers Association (HCEOA) has announced that there have been two detailed meetings and replies to parliamentary written questions, on VAT enforcement fees, The Association understands that the Ministry of Justice (MOJ) hopes to issue the guidance very shortly and that the final version will amend the guidance issued by the VAT…
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Sandwell Council rent arrears have hit £5.7 million as it’s IT system struggles with Universal Credit. The authority is now set to spend more than £400,000 on new IT software which is hoped will boost income by almost £700,000 in the first 12 months by correctly identifying tenants most at risk of not paying. A…
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The Financial Conduct Authority (FCA) has published its annual Sector Views, an assessment of the risks and potential harm to consumers across financial services markets. The Sector Views look at the impact of macroeconomic developments and common drivers of change emerging across financial markets. They also outline areas where there may be a negative impact…
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A group of cross-party MPs and Peers has joined a coalition of debt advice campaigners in urging the Government to break its silence on bailiff industry reform. Today marks a year since the Ministry of Justice (MOJ) closed its call for evidence on the bailiff industry, but despite overwhelming evidence of the need for wide-ranging…
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Communities are being encouraged to take part in a new initiative to help improve access to cash. The new Community Access to Cash Pilots, being funded by the financial services industry, will help to work out ways to meet local access to cash needs. ATM and bank branch closures have fuelled fears that “cash deserts”…
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Mortgage possession claims have increased by 11%, when compared to October – December 2018 figures according to Ministry of Justice (MOJ) figures. The increase in mortgage possession claims, saw a 24 per cent rise in orders and a 9 per cent rise in repossessions compared with the same quarter last year. The latest MoJ statistics…
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New figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q4 2019 was 25, 10.7% lower than in Q4 2018. The annual total of repossessions in this market fell to a record low of 98 in 2019. The rate of second charge mortgage repossessions (as…
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Just, the enforcement market integration business has announced the launch of a VAT Support Group. The Ministry of Justice (MoJ) has committed to publishing guidance which will change the way VAT is collected by High Court enforcement businesses. It’s thought that industry changes will be required to ensure compliance and Just, says advice will be…
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A new Collections and Enforcement specialist has launched. Chartsbridge says that it aims to provide the first unified motor finance collections and recovery outsource service in an otherwise fragmented marketplace, with their services available to clients on a modular or a full partnership basis. Chartsbridge has been launched by John Ingram – who originally founded…
Read moreOne in three (36%) people in the UK say they would be in financial arrears within a month if they were to lose their jobs tomorrow, according to new research by AA Financial Services. This figure rises to a staggering one in two (51%) amongst people who rent their homes. The findings come at a…
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Enforcement specialist JBW Group has announced it has fully acquired the shares of debt collection agency (DCA) Advantis Credit with funding provided by OUTSOURCING Inc. Advantis will continue to be managed separately to JBW and will retain its brand and management team, led by CEO, Mark Webb. This acquisition brings FCA Regulated Debt and Contingent…
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Enforcement specialist JBW Group has announced that that it has been awarded four contracts to provide Approved Enforcement Agency services to Her Majesty’s Courts and Tribunals Service (HMCTS). As a result of these awards, JBW will be providing primary services to the London, South-East and Midlands regions of HMCTS and secondary services for all other…
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Here is an overview of The Money Charity’s latest statistics for January 2020 Personal debt in the UK People in the UK owed £1,669 billion at the end of November 2019. The average total debt per household, including mortgages, was £59,982 and per adult was £31,643, around 111.6% of average earnings. Net mortgage lending rose…
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