Credit, Collections & Insolvency News
The Government has announced a new breathing Space scheme which will protect Individuals and families struggling with problem debt. Under the new scheme, consumers will be given extra help and time to get their finances under control, City minister John Glen has revealed. The new plans will see the introduction of a 60-day Breathing Space…
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It has been announced that from 1st June, the process for complaining about enforcement agents (bailiffs) will be streamlined. The Civil Enforcement Association (CIVEA) will no longer review complaints on behalf of its members. With CIVEA no longer involved, all complaints about enforcement agents acting on behalf of local authorities will go straight to the…
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People are at risk from fraudsters masquerading as enforcement agents (bailiffs) and small businesses are a popular target, according to the civil enforcement industry’s trade body Civil Enforcement Association (CIVEA). The warning comes after CIVEA identified cases of fraudsters using the government’s public register of enforcement agents to demand payments for bogus government debts. The…
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The number and total value of small claims judgments in Northern Ireland dropped to record lows in the first quarter of 2019 compared to the same period the previous year, according to figures released by Registry Trust. There were 1,750 small claims judgments in the first three months of 2019, 22 percent fewer than in…
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New figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q1 2019 was 24, 47.8% lower than in the first quarter of 2018. The rate of second charge mortgage repossessions (as a percentage of outstanding agreements) was 0.08% in the twelve months to March 2019.…
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Three in ten (28%) consumers ran a ‘deficit budget’ in the past month, spending more during the month than they received in income, according to new research from R3, the insolvency trade body, and ComRes. One in six consumers (17%) spent up to £100 more than they received in income over the past month; 7%…
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The number and total value of debt judgments in Jersey fell in the first quarter of 2019 compared to the same period 2018, according to figures released tby Registry Trust. There were 448 judgments registered in Jersey during Q1 2019, 17 percent fewer than in the first three months of 2018. The average value of…
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In the first quarter of 2019, 321,044 County Court judgments (CCJs) were registered against consumers in England and Wales, a rise of five percent on the same quarter of 2018, according to figures by Registry Trust. The total number of adverse CCJs have risen year-on-year for the past six years. At the same time the…
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New research analysis by The Registry Trust has found that lenders accounted for 37 percent of judgments, ahead of the government sector on 27 percent and housing bodies on six percent of debt judgment information in Northern Ireland during 2018. Uncategorised claimants (which include insurance brokers, debt collectors and personal claimants) made up a further…
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Test Valley Borough Council has been forced to write off more than a quarter of a million pounds in uncollectable debts — the majority of which is down to companies becoming insolvent. Test Valley Borough Council’s cabinet has approved wiping out £310,975 in unpaid business rates debts, accrued by businesses. Much of the uncollectable sum…
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The Insolvency Service has published its latest insolvency statistics which indicate that the underlying number of personal insolvencies decreased in England & Wales. Total individual insolvencies fell in Q1 2019 from an 8 year high in Q4 2018. This fall was largely driven by a decrease in the number of individual voluntary arrangements (IVAs) though…
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HMRC has spent over £140 million on private debt collectors in the last decade, according to new analysis by UHY Hacker Young, the national accountancy group. UHY Hacker Young says HMRC has come under pressure to maximise revenues in recent years which has led to it adopting an increasingly aggressive approach to collecting unpaid tax.…
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Latest figures released by the Registry Trust shows that the number of consumer debt judgements increased in Ireland during Q1 2019. There were 595 judgments registered against consumers in Ireland during Q1 2019, 26 percent higher than the same quarter of the previous year, according to figures released today (April 29 2019) by Registry Trust.…
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