Credit, Collections & Insolvency News
Vulnerable people who fall behind with Council Tax payments will have greater protection from aggressive debt enforcement under new plans to improve the way councils collect arrears. Following concerns from charities, debt advice bodies and local councils, ministers are moving forward with work to create a fairer, more efficient and compassionate debt recovery system. Local…
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The amount of money being achieved for a repossessed home by Spicerhaart Corporate Sales is at its highest level in nine months. Spicerhaart Corporate Sales achieved an average of 104.29% against the market value on properties that were taken into possession and sold in March 2019. This figure is up from an average of 96.73%…
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The Money Advice Trust has today launched its revamped ‘How to deal with debt’ guide for England and Wales. The guide takes people in debt through the steps they need to take to deal with their financial situation from start to finish and draws on behavioural science techniques to keep users engaged and motivated throughout…
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UK Asset Resolution (UKAR), has confirmed that it has agreed to sell two separate portfolios of residential owner-occupied mortgages and unsecured loans to Citi for a total of £4.9 billion. The majority of financing for the transaction is being provided by PIMCO. Financial completion is expected within the next few weeks and will enable UKAR…
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Arvato Financial Solutions (AFS) has announced it has appointed a new Operations Director for the UK market. Alasdair Skeoch, who has over thirty years’ experience within the credit industry, has joined AFS to lead the contact centre and field services operations. Skeoch has a track record of success in senior Operational and Client Service roles…
Read moreFollowing on from the successful acquisition of the SIRS Europe in 2018, Carnoustie Resources has announced the acquisition of a second company. CLS Associates (UK) has been acquired after completing successful negotiations over the last 6 months. CLS was formed in 2006, is based in Kent and provides a range of Investigation services to clients…
Read moreOn the 1st April £1.67 billion is set to be added to the nation’s energy bill and, according to new analysis from price comparison and switching service uSwitch.com, the hardest hit will be those who can least afford it. Last month, Ofgem announced that it was increasing the level of the price cap on poor value…
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Here is an overview of The Money Charity’s latest statistics for March 2019: Personal debt in the UK People in the UK owed £1.629 trillion at the end of January 2019. This is up from £1.579 trillion at the end of January 2018, an extra £952.50 per UK adult over the year. The average total debt per…
Read moreNew research by the Money and Mental Health Policy Institute has revealed the links between financial difficulty and mental health problems in England – and which mental health conditions can increase your chances of being in problem debt. The charity is calling on the government to use its upcoming Consumer White Paper to ensure people with…
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Mortgage customers who have previously been unable to switch mortgages despite being up-to-date with their payments (commonly known as mortgage prisoners), could soon be able to find a cheaper deal after the Financial Conduct Authority (FCA) proposed changes to how lenders assess whether or not a customer can afford the loan. In the final report…
Read moreResearch carried out by financial advice website Moneycomms.co.uk and supported by credit experts TotallyMoney has revealed that credit card cash withdrawals cost UK consumers £219 million in fees and interest last year. In the 12-month period, there were more than 36 million credit card cash transactions. The average amount withdrawn or spent was £125. Every time a…
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Cabot Credit Management has won the Employee Engagement Strategy of the Year Award at the Institute of Customer Service UK Satisfaction Awards. In the Awards category Cabot had to demonstrate an employee engagement strategy that has led to an improvement in performance and customer satisfaction. The judges were looking for improved staff retention, reduced sick…
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The Credit Services Association (CSA), the voice of the UK debt collection and purchase industries, has announced that it has appointed Chris Gardner as its new Complaint and Compliance Administrator. Gardner will act as a first line complaint handler, providing a high level of customer service to consumers and members alike. He will ensure that…
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