Credit, Collections & Insolvency News
The number of insolvencies amongst women aged 65 and over increased from 1,109 in 2008 to 2,082 in 2018 – an increase of 88% in a decade, according to new analysis from Rest Less, a jobs, volunteering and advice site for the over 50s. The insolvency rate of this group increased from 0.02% to 0.04%…
Read more
Enforcement specialist JBW Group has announced that that it has been awarded four contracts to provide Approved Enforcement Agency services to Her Majesty’s Courts and Tribunals Service (HMCTS). As a result of these awards, JBW will be providing primary services to the London, South-East and Midlands regions of HMCTS and secondary services for all other…
Read more
There was a 20 percent rise in the number of judgments recorded against consumers in the Republic of Ireland in Q4 2019, compared to the same period last year, figures released by registrar Irish Judgments show. Consumer judgment numbers rose from 516 in Q4 2018 to 618 Q4 2019, while the total value grew by…
Read more
In the year up to November 2019, UK households borrowed almost as much as the Government, demonstrating that debt remains both a private and public sector issue, according to the January 2020 Money Statistics, produced by The Money Charity. The latest data available from the Bank of England and ONS shows that UK households borrowed almost…
Read more
Here is an overview of The Money Charity’s latest statistics for January 2020 Personal debt in the UK People in the UK owed £1,669 billion at the end of November 2019. The average total debt per household, including mortgages, was £59,982 and per adult was £31,643, around 111.6% of average earnings. Net mortgage lending rose…
Read more
The Insolvency Service has released its annual figures on personal insolvencies which show that in 2019, there were 122,181 personal insolvencies, an increase of 6% on 2018, and the highest annual total since 2010. This was mainly due to an increase in Individual Voluntary Arrangements which reached their highest year on record. Personal insolvencies fell…
Read more
Credit card spending rose by 7.3% and personal borrowing through loans jumped by 14% in December, trade body UK finance has revealed in its latest Household Finance Update. Figures from the trade body of the UK banking and finance industry have revealed that the credit card spending of £11.8 billion in December 2019 was 7.3%…
Read more
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in November 2019 by 2% compared with the same month in 2018, and held steady in the eleven months to November 2019. Credit card and personal loan new business together grew in November 2019 by 2% compared with…
Read more
Omnichannel contact centre technology solutions provider, Noble Systems has announced it ha renewed its partnership with debt recovery agent Pastdue Credit Solutions Pastdue Credit Solutions have been a Noble customer for over 10 years and first purchased a Premise-based Contact Centre solution. James Riley, VP Sales & Marketing said, “We’re pleased to continue this solid…
Read more
New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes increased by 14% in November 2019 Commenting on the November 2019 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “The…
Read more
A record number of County Court Judgments (CCJs) were issued last year against consumers who fell into debt, double the level of eight years ago according to new figures released by the Registry Trust. The number CCJs issued against consumers in England and Wales increased slightly in Q4 2019 compared to the same period last…
Read more
A new Collections Technology Think Tank has been launched by Credit Connect Media. The event will examine collections technology strategies to increase effectiveness and efficiency. The inaugural Collections Technology Think Tank powered by Credit Connect will take place on Thursday 11th June at the Marriott Hotel in Leeds. The event will focus on how collections teams can…
Read more
A new research report from StepChange Debt Charity, ‘Problem debt and the social security system’ has indicated that the Government should take steps to reform the design flaws within the system that are causing people to experience destitution. The research findings reveal that half (52%) of the charity’s clients who are in receipt of support…
Read more