Credit, Collections & Insolvency News
The number of debt judgments in Jersey fell in 2018 compared to 2017, according to figures released today (February 6) by Registry Trust. However the total value of judgments increased during the same year. There were 1,492 judgments registered in Jersey during 2018, 14 percent fewer than in 2017. By contrast, 3,489 judgments were registered in…
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Latest figures from the Insolvency Service for Northern Ireland show that there were 73 company insolvencies between October and December. 34 were compulsory liquidations while 26 were creditors’ voluntary liquidations. There were also eight administrations and five company voluntary arrangements. That total of 73 was 19.8 percent lower than the same quarter in 2017 and…
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The Insolvency Service has published the latest personal insolvency statistics for England and Wales for Quarter 4 2018 (October to December 2018) which show that that the percentage of IVAs failing within the first year has increased for the fourth consecutive year. The figures also show that 9% of IVAs registered in 2011 and 3%…
Read moreThe latest statistics from Accountant in Bankruptcy (AiB) have highlighted a 10% rise in bankruptcies with an overall increase in Scottish personal insolvencies continuing to be driven by growth in the protected trust deed (PTD) market. In the third quarter of 2018-19 covering the period 1st October to 31st December, there were 1,981 PTDs in…
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Slough Borough Council is to become the latest local authority to pass unpaid debts to ethical credit management firm Intrum in a bid to enhance the experience of residents and raise revenue for the borough. The agreement with H&F Ethical Collections, the joint venture partnership set up by Intrum UK and Hammersmith & Fulham Council…
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Local authorities from across the UK will next month come together to discuss ways of transforming their debt collection practices. Credit management firm Intrum UK and its joint venture partner Hammersmith & Fulham Council have launched an ethical debt collection conference to drive change in council collections after a series of reports suggested the public…
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A new industry careers site for the credit industry and collections industry has been launched by Credit Connect Media. The website is a careers platform which aims to connect the UK’s top credit and collections industry talent with the best career options. Credit-connection.co.uk is an industry careers website sharing the latest job vacancies and a training course…
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Bailiffs are not being held to account when they break the rules because the complaints system is complicated and intimidating, according to new research from Citizens Advice. Figures obtained by Citizens Advice from the Ministry of Justice show just 56 complaints were made through a court-based process introduced as part of the bailiff reforms in…
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Unsecured debt has hit a new peak of £15,400 per household according to new analysis by the Trade Union Congress (TUC) with a further threat of families being pushed further into the red, Debt levels are now higher than before financial crash. The new analysis by the TUC shows that household debt rose sharply over 2018, with…
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The Justice Committee has launcheed an inquiry into the enforcement of debt by bailiffs (also known as enforcement agents) in England and Wales. The Committee’s inquiry will run alongside an Ministry of Justice (MOJ) consultation and will focus on High Court and Civil Enforcement Officers, who collect debts such as Council Tax, parking fines and utility…
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Enforcement specialist Newlyn has announced the appointment of Paul Sharpe as its new Managing Director. Sharpe will join the Newlyn team in January 2019. Sharpe is a highly experienced figure who, since 1985, has worked within the enforcement industry; firstly with John Crilley and Son and latterly with Equita, where he held the position of…
Read moreThe Financial Conduct Authority (FCA) has published new rules and fees that will apply to all claims management companies (CMCs) from April 2019. That’s when the FCA takes over responsibility for regulating the firms, which help thousands of people every year. From next April, all CMCs set up or serving customers in England, Scotland and Wales will…
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The Money Advice Service (MAS) has launched new guidance which they say will assist Local Authorities to take a more progressive approach to the recovery of Council Tax, encouraging improved resident engagement, fairer outcomes and sustainable arrears repayments. Across the UK, the number of overindebted people is approximately 8.3 million. Furthermore, a third of people…
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