Credit, Collections & Insolvency News
New research from NS&I has revealed that 14% of Britons (7 million people) think they may have lost track of a financial product, highlighting the staggering amount of money left dormant with UK financial services providers. And it’s not just savings accounts, with a fifth (20%) admitting there is a possibility that they have lost…
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More than a quarter of UK consumers would be happy for service providers to share their personal data with other suppliers or third parties, according to new research. The findings were reported in a study completed by outsourced customer contact specialist Echo Managed Services. The company surveyed 1,000 UK residents on their knowledge and attitudes to debt and asked…
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Over 1.5 million renters across the UK could be at risk of losing their deposits after new research from comparethemarket.comreveals that one third (33%) of renters know that their landlord has not placed their money into a Government-backed deposit protection scheme (DPS). Despite the legal obligation which requires landlords to put deposits into schemes such…
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Energy services group, Engie has signed its first energy white-label contract with a local authority to supply householders across the north-west of England. In the new offer launching today, residents in the Cheshire West and Chester region will benefit from a new local energy platform called Qwest Energy. The new proposition sees Engie become the…
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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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Londoners are more likely to be struggling with debt than the rest of the UK despite average higher incomes. That is according to London in the Red, a new report from StepChange Debt Charity, that reveals 100,000 Londoners sought their debt advice, meaning one in six of its clients last year came from London. The…
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Almost 10% (9.08%) of UK consumers have been in debt during their life due to the price of household bills, research conducted by Vanquis Bank has revealed. The survey of 1,311 UK consumers, conducted on 3rd August 2018, analysed the factors behind debt, taking into account household bills, rent, overspending, unemployment, medical costs and high…
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People are increasingly struggling with ‘smaller but trickier’ debts on everyday household bills, according to new figures from National Debtline, run by the Money Advice Trust. The charity expects the number of calls to National Debtline to hit 189,000 by the end of the year – the highest level in five years – with webchat…
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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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The finalists for Credit Connect’s second annual Credit & Collections Technology Awards 2018, the UK’s celebration of tech innovators in credit and collections, have been revealed. The Credit & Collections Technology Awards, organised by Credit Connect, brings together credit and collections technology executives to honour the industry’s leading players across 18 categories. The Technology focused-Awards scheme seeks…
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The total council tax owed in England has risen by 6.6% in the past year. The Ministry of Housing, Communities & Local Government figures show that in 2017-18 local authorities collected a total of £28.0 billion in council tax, irrespective of the year to which it related. This was an increase of £1.4 billion, or…
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Public sector outsourcing spend has increased sharply in the first six months of 2018 despite a backdrop of Brexit uncertainty, according to the Arvato UK Outsourcing Index. Overall, £2.61 billion of outsourcing deals were signed between January and June, of which £998 million were government contracts. The total value of public sector spending was up 39…
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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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