Credit, Collections & Insolvency News
Latest figures from the Insolvency Service have indicated that person insolvencies increased by 9.2% to 9,954 in September 2021 compared to August’s figure of 9,118, and were 33.2% higher than September 2020’s figure of 7,471. There were 614 bankruptcies were registered, which was 42% lower than September 2020 and 55% lower than September 2019. Numbers…
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The High Court Enforcement Officers Association (HCEOA) has welcomed this week’s publication of a new Ministry of Justice guidance document entitled VAT on High Court Enforcement Officer Fees. The Ministry of Justice has released the new official guidance, which clarifies how VAT on High Court enforcement fees should be treated, following a range of discussions…
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The Universal Credit cut will worsen rent arrears crisis according to the National Residential Landlords Association (NRLA) The NRLA says that with the Government pressing ahead with a planned cut to Universal Credit of £20 per week, the level of welfare support which had been increased in light of the impact of the pandemic on…
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Credit Connect’s hosted its third Online Collections Technology Think Tank 2.1 last week which saw the discussions focused upon collections strategy as we prepare to start to feel the impact of the pandemic and Brexit. Fourteen collections professionals from a variety of industry sectors joined the discussion on business transformation, customer engagement, affordability, vulnerability and…
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Research by the nationwide buy-to-let specialist, Sequre Property Investment, has revealed that the tide of pandemic rental arrears woes that have impacted one in five landlords could be starting to turn, as the majority are now seeing a reduction in the level of late rental income owed to them. The survey of nearly 4,000 UK…
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Latest statistics from the Insolvency Service have shown that Northern Irish personal and business insolvencies numbers increased in August when compared to 2020’s figures. In August 2021 there were 148 personal insolvencies in Northern Ireland, 38% higher than August 2020 but 28% lower than August 2019. This consisted of 127 IVAs, 15 DROs and six…
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A new Credit & Technology Think Tank has been launched by Credit Connect Media. The event will examine credit and collections technology strategies to increase effectiveness and efficiency as we emerge from the worst impact of the pandemic. The inaugural Credit & Collections Technology Think Tank powered by Credit Connect will take place on Thursday…
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Marston Holdings has introduced a new notice processing and enforcement service that will help councils to effectively enforce contraventions committed by foreign registered vehicles (FRVs) on British roads. The company says that these vehicles are more likely to contravene traffic and parking regulations than drivers of UK registered vehicles as well as being less likely to…
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A new survey of court users by the High Court Enforcement Officers Association (HCEOA), has found that almost 99% support greater freedom of choice – enabling them to use a High Court enforcement route – when recovering outstanding debts. The call from court users comes following significant delays in the County Court system. The vast…
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The Government Debt Management Function has launched a Vulnerability Toolkit which ensures ‘vulnerable’ citizens who are in debt to the public sector are handled with compassion and support by frontline staff. The new guidance will be accessible to government departments and public bodies, enabling them to identify and assist people whose physical or mental health…
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The number of evictions by landlords in England and Wales hit 1,516 in June in the first month since the ban on evictions ended on 31st May according to the latest Ministry of Justice (MOJ) figures. Possession claims rose from 3,023 to 7,000, orders from 656 to 5431, warrants from 274 to 3,709. However, the…
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The number of County Court Judgments (CCJs) issued against consumers in England and Wales saw a huge rise in Q2 2021 compared to the same period last year, according to figures released by Registry Trust. The number registered in Q2 2021 was 188,092, up 267 per cent from 51,245 in Q2 2020. The value of…
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The number of decrees and total amount of debt registered against Scottish consumers saw large rises in the second quarter of 2021 (Q1 2021) compared to the same period last year, according to figures released by Registry Trust. The number rose from 1,419 to 3,991 in Q2 2021, a rise of 181 percent from Q2…
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