Credit, Collections & Insolvency News
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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‘Outdated and punitive council tax regulations’ are encouraging local authorities to collect arrears aggressively and is causing people serious financial harm, according to new research by Citizens Advice. Citizens Advice new research shows missing an average council tax payment of £167, in the first month of the financial year, can escalate to a debt of…
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Marston Holdings has announced the acquisition of Stockholm-based Parktrade. Marston said in news release that Parktrade is a technology and data business that has two compelling offerings: a technology platform that facilitates easy management and payment of Low Emission Zone charges, congestion charges and free flow road tolls. This platform facilitates multi-currency payments, auto payments…
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Vulnerable people who fall behind with Council Tax payments will have greater protection from aggressive debt enforcement under new plans to improve the way councils collect arrears. Following concerns from charities, debt advice bodies and local councils, ministers are moving forward with work to create a fairer, more efficient and compassionate debt recovery system. Local…
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Videalert, a supplier of intelligent traffic management and enforcement solutions to local authorities, has been acquired by enforcement services group Marston Holdings. The announcement follows successful deployments for a number of Marston’s strategic clients, including the London Borough of Barnet, the Royal Borough of Kingston upon Thames and the City of Westminster, where Videalert has…
Read moreFollowing on from the successful acquisition of the SIRS Europe in 2018, Carnoustie Resources has announced the acquisition of a second company. CLS Associates (UK) has been acquired after completing successful negotiations over the last 6 months. CLS was formed in 2006, is based in Kent and provides a range of Investigation services to clients…
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