Local Authority Collections

Government to restart sale of Bradford & Bingley loans

The government has resumed the sale of a failed bank’s £15.65 billion pound mortgage portfolio after it was delayed in the aftermath of the country’s vote to leave the European Union. UK Asset Resolution, which is selling off the Bradford & Bingley loans, is planning to send out non-disclosure agreements to prospective bidders this week,…

Council tax arrears is the biggest debt problem in Wales

A new report from Citizens Advice Wales “Fairness for all – Improving council tax debt collection in Wales” highlights the findings of research undertaken to better understand the recent increase in council tax arrears seen over the last few years. Council tax arrears is now the largest debt issue representing 13%t  of all debt issues. Council…

Staffordshire and Black Country councils owed tens of millions

Government figures reveal that tens of millions of pounds in unpaid council tax and business rates is owed to councils across the Black Country and Staffordshire. The figures owed are as follows: Walsall £20.3 million Sandwell £23.3 million Wolverhampton £14.7 million Dudley £8.7 million Cannock £6 million Stafford £4.4 million  

Rossendales confirms FCA authorisation

Marston Holdings (Marston) has confirmed that subsidiary Rossendales has been granted full authorisation by the Financial Conduct Authority (FCA). Rossendales is the second Marston business to become fully authorised. Burlington Credit was authorised in 2014.  

Policy changes to blame for Universal Credit delay

The Department of Work and Pensions (DWP) has blamed policy changes for the delay in Universal Credit rollout. Damien Green, Secretary of State for Work and Pensions, issued a statement to parliament outlining three major changes to the roll-out. The full statement can be found here. Source: Parliament UK

Bailiffs, Government and Councils ranked most unfair in dealing with debt

A report by charity Stepchange has found that  bailiffs, government departments and bailiffs are among the most unfair when dealing with people in problem debt. The report titled Creditor and debt collector conduct: What’s making debt problems worse? also found that some creditors are failing to take vulnerabilities such as depression and other ongoing mental health conditions into…

Civil Servants Credit Union to launch

The Department for Work and Pensions (DWP) has launched a Credit Union for civil servants. The DWP has around 85,000 employees. The DWP has set up the scheme with 3 Credit Unions – Commsave, Hull & East Yorkshire and Voyager Alliance.

UK Asset Resolution (UKAR) agreed to sell a £13 billion asset portfolio

UK Asset Resolution (UKAR) agreed to sell a £13 billion asset portfolio from the legacy book of NRAM (including £12 billion of loans within the Granite securitisation vehicle, plus a further £1billion of non-Granite assets) to Cerberus Capital Management LP.

UK Asset Resolution (UKAR) announces the transfer of its mortgage servicing operations to Computershare

The Government has announced that it is proposing a three month moratorium from creditor action for insolvent or near-insolvent companies

Government proposals in the Digital Economy Bill

Government proposals in the Digital Economy Bill,  suggests switching mortgages in seven days maybe possible in the future.

In June, UK Asset Resolution’s (UKAR) staff will move to Computershare’s loan services business

In June, UK Asset Resolution’s (UKAR) staff will move to Computershare’s loan services business. The company claims it will service three out of every five outsourced UK mortgages (approximately 62%) totalling £73 billion