Credit, Collections & Insolvency News
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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The Ministry of Justice (MOJ) has announced a call for evidence to review of enforcement agent (bailiff) reforms. The call for evidence asks about people’s experiences of the 2014 reforms which regulate how enforcement agents (bailiffs) operate and to end what it calls intimidating practices and to better protect vulnerable people. The consultation has been…
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More than 80 percent of North Ayrshire Council tenants on Universal Credit are in rent arrears. Responding to the news the local authority’s leader has branded the welfare policy a ‘tragedy’. Labour Council Leader Joe Cullinane said Universal Credit was pushing families into debt, which could lead to a sharp rise in poverty, hardship and anxiety. Since…
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The number of debt judgments in Jersey fell by almost a third during the third quarter of the year compared to the same period of 2017, according to figures released today by Registry Trust. However the average value of judgments increased by 84 percent compared to the third quarter of last year. In Q3 2018,…
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The total number of defaults and small claims judgments issued in Northern Ireland during the third quarter of the year was 1,711, a historic low for any quarter, according to figures released today by Registry Trust. In the third quarter of 2018, the number of small claims judgments fell by 22 percent and the average…
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The average value of a consumer county court judgment (CCJ) reached a historic low during the third quarter of 2018, according to new figures released by Registry Trust. The fall in average value was accompanied by a fall in number to 276,097, down 13 percent compared with the same quarter of the previous year. The…
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The number of business debt judgments registered in the Republic of Ireland during the third quarter of 2018 fell to the lowest levels on record for any third quarter, according to figures released today by Registry Trust. In Q3 2018, 137 business judgments were issued, 10 percent fewer than Q3 of last year and the…
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The number of debt decrees registered against Scottish consumers rose by six percent more than in the third quarter of 2017. During Q3 2018, 5,668 debt decrees were registered against Scottish consumers. A further one percent increase on last year’s historic Q3 high in the average value of small claims and summary cause decrees set a…
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Rule-breaking bailiffs are causing people increased stress, anxiety and financial hardship, according to new research published today by Citizens Advice and StepChange. The charities are calling for the government to step in and regulate the industry to prevent more people suffering at the hands of debt collectors who flout the rules. New figures reveal that…
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