Credit, Collections & Insolvency News
The HMRC has increased its spend on private sector debt collectors by 62% in the last year to £39m in 2017, up from £24m in 2016, says UHY Hacker Young, the national accountancy group. UHY Hacker Young says that the steep rise in spending on private sector debt collectors could suggest that HMRC may be…
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New figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q1 2018 was 46, up from 25 in the first quarter of 2017. The rate of second charge mortgage repossessions (as a percentage of outstanding agreements) was 0.09% in the twelve months to March 2018.…
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Enforcement specialist JBW Group, have announced they have agreed the recovery of unpaid Road User Charging penalties with a 3-year contract extension with the Highways England Dart Charge Scheme. Following an intensive competitive procurement exercise undertaken by Highways England earlier this year JBW Group, a supplier since the launch of the Dart Charge scheme in November…
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The number of debt judgments registered in Jersey rose slightly during the first Quarter (Q1) of 2018, according to figures released today by Registry Trust. In Q1 2018, a total of 543 debt judgments were made, 13 percent more than during the same quarter last year. This increase in total volume was caused by an…
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UK consumers saw a 22 percent spike in adverse debt judgments last year, according to national statistics released by TrustOnline. Over the same period the number of online searches by people checking judgment status grew by ten percent. During 2017 nearly 1.2 million judgments were registered against consumers in England, Wales, Scotland and Northern Ireland.…
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The number of tickets issued to drivers on parking on private land has surged by almost a million in just 12 months to a new high, the latest official data suggests. RAC Foundation analysis of DVLA data shows that in the last financial year (2017-18) 5.65 million sets of vehicle keeper records were released to…
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The Civil Court Users Association (CCUA) has announced that it has secured Susan Acland-Hood CEO of Her Majesty’s Courts & Tribunal Service (HMCTS) as its Keynote Speaker its Annual Conference in Birmingham on 16th October. Commenting on the news Amir Ali Chair of the CCUA said “I got the chance to meet and brief Prime Minister…
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The total value of consumer debt judgments registered in the Republic of Ireland topped €100m in Quarter 1 of 2018, for the first time during a single quarter since Q3 2015, according to figures released today by Registry Trust. Four hundred and seventy-one judgments were issued against consumers during the first quarter of the year,…
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Levels of arrears and repossessions are expected to grow this year, according to Jackie Bennett, Director of Mortgages at UK Finance, at the UK Finance Speaking at a UK Finance annual mortgage lunch, Bennett noted that arrears were at a historic low in 2017 with 89,000 people with arrears balances of 2.5% or more of their…
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According to research by Callcredit Information Group, 30% of consumers see defaulting on a loan payment as being the fault of the lender rather than the borrower. The study also revealed that consumers are increasingly feeling financial pressure, with almost half (45%) saying the financial burden on their personal finances has increased and that they…
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HM Courts & Tribunals Service (HMCTS) has announced that Tim Parker has been appointed as the new position as Chairman of the Board. The board is responsible for overseeing the leadership and direction of HMCTS and ensuring that it effectively delivers the aims and objectives set by the Lord Chancellor, the Lord Chief Justice and…
Read moreThe Financial Conduct Authority (FCA) has published its business plan for 2018/19 which sets out the key priorities for the coming year. The FCA says the priorities in this year’s business plan reflect the high level of resource needed to dedicate to European Union (EU) withdrawal, given its impact both on our regulation and the…
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The Government is to launch a call for evidence following concerns that a minority of bailiffs are still acting aggressively when collecting money from debtors –, particularly from vulnerable people. The call for evidence, which will be launched shortly, will look to those directly involved to share their experiences to help stop this in its…
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