Credit, Collections & Insolvency News
The Civil Enforcement Association (CIVEA), which represents all the major civil enforcement agencies along with a number of independents, is to host a conference on Thursday, 19th September at Banking Hall, Cornhill, London. The one-day event will include a conference and exhibition and will be free to delegates drawn primarily from local authorities. A capacity…
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Here is an overview of The Money Charity’s latest statistics for July 2019: Personal debt in the UK People in the UK owed £1,640 billion at the end of May 2019. This is up from £1,592 billion at the end of May 2018, an extra £922 per UK adult over the year. The average total debt per household, including mortgages,…
Read moreThe Financial Conduct Authority (FCA) has launched a consultation on proposed guidance for firms on the fair treatment of vulnerable customers. The guidance sets out the FCA’s view of what the FCA Principles require of firms to ensure that vulnerable consumers are consistently treated fairly across financial services sectors. The FCA wants to see doing…
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Kirklees Council wrote off almost £6 million of bad debt during the financial year 2018-19 according to new figures released by the council. Whilst the figure appears high finance chiefs at the council have advised it reflects only a tiny percentage of the authority’s revenue. The largest write-offs from April 2018 to March 2019 were…
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Councils across England and Wales have today (Monday 8th July) launched a pilot a scheme that will help local authorities recover unpaid Council Tax – currently costing local authorities tens of millions every year. Twenty-nine local authorities will take part of the trial working with the Department of Work and Pensions (DWP) and Revenue and…
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Indesser, a joint venture between TDX Group (an Equifax company) and the Cabinet Office set up to manage consumer debt to government departments more effectively and responsibly, has announced Rhona Parry as its new Chief Executive Officer (CEO). Parry joined Equifax in January 2017 as Vice President for External Affairs, during which time she has…
Read moreHere is an overview of The Money Charity’s latest statistics for June 2019: Personal debt in the UK People in the UK owed £1,637 billion at the end of April 2019. This is up from £1,588 billion at the end of April 2018, an extra £946.00 per UK adult over the year. The average total debt per…
Read moreThe Government has announced a new breathing Space scheme which will protect Individuals and families struggling with problem debt. Under the new scheme, consumers will be given extra help and time to get their finances under control, City minister John Glen has revealed. The new plans will see the introduction of a 60-day Breathing Space…
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Here is an overview of The Money Charity’s latest statistics for May 2019: Personal debt in the UK People in the UK owed £1,633 billion at the end of March 2019. This is up from £1,588 billion at the end of March 2018, an extra £852.40 per UK adult over the year. The average total debt per…
Read moreFinancial wellbeing is deteriorating at its fastest pace since September 2017 despite a sustained rise in income from employment according to a new report IHS Markit. The report found that household finances were squeezed to the strongest extent since September 201 whilst workplace activity and incomes from employment continue to rise. The outlook towards future…
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The Fairness Group has issued a joint public statement as it sets out how the government will work with the advice sector to support vulnerable people and those in financial hardship. The Fairness principles are aligned to Financial Conduct Authorities (FCA) guidelines on Treating Customers Fairly. These Principles are embedded in the Cross Government Debt…
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Test Valley Borough Council has been forced to write off more than a quarter of a million pounds in uncollectable debts — the majority of which is down to companies becoming insolvent. Test Valley Borough Council’s cabinet has approved wiping out £310,975 in unpaid business rates debts, accrued by businesses. Much of the uncollectable sum…
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HMRC has spent over £140 million on private debt collectors in the last decade, according to new analysis by UHY Hacker Young, the national accountancy group. UHY Hacker Young says HMRC has come under pressure to maximise revenues in recent years which has led to it adopting an increasingly aggressive approach to collecting unpaid tax.…
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