Credit, Collections & Insolvency News
Enforcement specialist JBW have announced have acquired Phoenix Commercial. The agreement will create the UK’s second largest enforcement company. The deal follows an acquisition of the shares in Phoenix by JBW, with funding provided by OUTSOURCING Inc OUTSOURCING Inc. is a Japanese listed company with headquarters in Tokyo and has expanded its operations internationally in Asia,…
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The winners of the second annual 2018 Credit & Collections Technology Awards have been revealed. There were sixteen winners from the eighteen Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation. The awards ceremony was held at Credit Services Association’s (CSA) annual Gala dinner at the…
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The winners of the second annual Credit & Collections Technology Awards were announced last night at the Credit Services Associations’s annual Gala dinner at the Crown Plaza in Stratford-upon-Avon. Eighteen winners from the Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation were revealed. Stay tuned…
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The Ministry of Justice (MOJ) has announced it has had to suspend its Transforming Compliance and Enforcement Programme (TCEP) enforcing court orders and collecting historic criminal debt will continue unchanged after further upgrades to the service, including systems and technology, were put on hold. The plans are no longer affordable within the Ministry of Justice’s…
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Citizens Advice is calling for better regulation of unaccountable bailiff firms as it reveals households have fallen behind on their essential bills, such as council tax and utilities, by an estimated £18.9 billion. Last year, the charity helped one person every 3 minutes with bailiff issues. In 2014, the government introduced reforms which were meant…
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New figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q2 2018 was 38, 2.6% lower than in the same quarter in 2017. The annual rate of second charge mortgage repossessions (as a percentage of average outstanding agreements) in the twelve months to June 2018…
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Personal Insolvencies for the UK’s under 25s have risen 20% in just a year, from a total of 4,709 in 2016 to 5,640 individuals in 2017, according to new analysis from Moore Stephens. Within the under 25s age bracket, women are more likely to become insolvent than men with 3,175 women going insolvent in 2017…
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The number of debt decrees registered against Scottish consumers has risen by 20% during the first half of 2018, according to latest figures released by the Registry Trust. During Q1 and Q2 2018, 13,190 debt decrees were registered against Scottish consumers, 20 percent more than in the first half of 2017. This combined with an…
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The total number of defaults and small claims judgments issued in Northern Ireland during the first half of the year rose to the highest levels since 2012, according to figures released today by Registry Trust. However, the percentage of judgments marked as satisfied was just a fifth of the percentage satisfied in England and Wales…
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In the past two years, government bodies in Northern Ireland accounted for a larger proportion of debt judgments than lenders, according to the latest figures released by Registry Trust. Governmental organisations took to court 34 percent of judgments issued for the top 50 claimants during 2016 and 2017; lenders accounted for 33 percent. Housing organisations…
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The number of debt judgments marked as satisfied in Jersey almost halved during the first half of 2018, according to figures released today by Registry Trust. In Q1 and Q2 2018, a total of 895 debt judgments were made, four percent fewer than during the same period last year. Despite falling in number, the total…
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Public sector debt collection should not be lagging behind private sector best practice, H&F Ethical Collections said today. H&F Ethical Collections is the joint venture between global credit management firm Intrum and Hammersmith & Fulham Council which was formed in 2017 to reduce the use of bailiffs and improve the treatment of people in debt.…
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A new report by The Treasury Select Committee says debts and overpayments are often pursued “over-zealously and uncompromisingly” by councils. In its report, it calls for public sector bodies to change the way they recoup debts. A summary overview of the report says that people become over-indebted not just through conventional credit, but through arrears on…
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