Credit, Collections & Insolvency News
Annual household bills have risen by £112 during the past year, according to new statistics from comparethemarket.com. The research which analyses the cost of energy, home and motor insurance since 2015 has shown a relentless rise in bills for households across the country. On average, people are spending £2,707 on these three products over the year…
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Credit Connect Media will host its first free live webinar in February. The webinar titled “How to accelerate effective collections with digital transformation” will be the first of a series of webinars looking at the latest thematic innovations enhancing collections strategy. The first partner for the webinar will be Lightico, winner of the Contact Centre…
Read moreA noticeable levelling off of credit card lending over the second half of 2019 so far bucks a significant long-term trend, suggesting that we may see big changes in the credit market during 2020, according to the December 2019 Money Statistics, produced by The Money Charity. In 2019, after years of considerable, rapid growth, credit…
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Here is an overview of The Money Charity’s latest statistics for December 2019: Personal debt in the UK People in the UK owed £1,665 billion at the end of October 2019. The average total debt per household, including mortgages, was £59,840 and per adult was £31,569, around 111.7% of average earnings. Net mortgage lending rose…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes up by 15% in October. Commenting on the October 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 second…
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Arrow Global Group has announced has raised €838 million for inaugural pan-European NPL (Non-Performing Loans) fund. Arrow says raising the Fund is a major achievement in the development of the company’s fund management capabilities and is central to the Group’s strategy to accelerate towards a more capital-light model. Lee Rochford, Group Chief Executive Officer of…
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Banks have been urged by debt charity StepChange ‘not to shroud their repeated-overdraft use strategies in mystery’. With new rules on overdraft repeat use starting today (18th December 2019), the charity says that banks will need careful oversight by the Financial Conduct Authority (FCA) to ensure they break the cycle of financially vulnerable people getting…
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The Christmas period is set to cost British consumers almost £1,000 each. A study of 2,000 adults found celebrating the festive season by buying presents, food and drink, and outfits for parties will see them splash out an average of £973.80 per person. Gifts for friends and family take up more than half of the…
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Peter Wallwork, Chief Executive of the Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has decided he will be stepping down in June 2020 after more than ten years at the helm. Wallwork was appointed to the newly-created role of Chief Executive following the retirement of CSA Executive…
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Water firms in England and Wales will have to cut the average bill by £50 over the next five years, under plans published by the industry regulator Ofwat. The move is part of water regulator Ofwat’s approval of a huge investment plan for water companies, aimed at improving their performance. The move was part of its…
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One in five (20%) energy customers, equivalent to 5.5 million households, have been put off switching to a new supplier following the collapse of 14 energy suppliers since the start of 2018, according to new research by comparethemarket.com. More than one million customers have been affected by a failed energy supplier since the start of…
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Energy customers still struggling to get accurate bills according to a new poll by Citizens Advice. The research is being released alongside the latest edition of the charity’s energy star rating which ranks domestic energy supplier on customer service. Bill errors are the most common problem for people contacting the Citizens Advice consumer service helpline.…
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The number of County Court Judgements (CCJs) registered against consumers has risen in Q3 year-on-year, according to latest figures released by Registry Trust, making the figures the highest amount of registered judgments against consumers in the third quarter since 2017. A total of 289,971 County Court judgments (CCJs) were registered against consumers in England and…
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