Credit, Collections & Insolvency News
Almost one-fifth of consumers (19%) would never inform a partner of their debt situation, according to new research by Equifax. The survey conducted online with Gorkana, found those aged 65 and over (29%) are almost twice as likely as those aged 18-24 and 35-44 (both 12%) not to reveal their debt to their significant other.…
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Enforcement agency Bristow & Sutor (B&S) has announced the formation of a new Independent Advisory Panel, to be chaired by Anthony Sharp of Anthony Sharp Associates. The industry-wide consultancy has been launched to discuss all matters relating to credit and debt collection. The new Panel consists of experienced individuals drawn from the debt advice, regulatory and creditor sectors…
Read moreThe Financial Conduct Authority (FCA) has today published the complaints figures for regulated firms for the first half of 2018. Complaints continued to increase for the fourth successive half year, reaching a new record level of 4.13 million complaints made to 3,161 firms. This was a 10% increase compared with the previous 6-month period. 98%…
Read moreCommunity service should replace the sanction of imprisonment for non-payment of Council Tax, according to the Civil Enforcement Association (CIVEA). The industry proposal is in response to a consultation by Financial Secretary, Mark Drakeford AM, which calls for a ban on imprisonment for anyone who does not pay their Council Tax. CIVEA, which represents the…
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The new energy price cap won’t cut bills for customers on three in ten dual-fuel deals, some of which cost almost £200 more than the cap per year for a medium energy user, according to new Which? Research. Which? looked at all energy deals available and identified more than 70 fixed deals that were more…
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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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