Credit, Collections & Insolvency News
New research by Leeds Building Society found nearly a quarter of people in the UK who celebrate the festive season (24%) don’t save ahead for it at all. Conversely, 15% of those surveyed start saving in January although 39% tend to leave it much later and start putting money away from September onwards. As part…
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The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase industries, has appointed Henry Aitchison, a former senior executive with the FCA and OFT, to the newly-created role of Head of Policy. Aitchison, who has a career spanning almost 20 years in consumer credit, will have a broad role supporting…
Read moreOfgem has appointed Ovo Energy to take on supplying Economy Energy’s 235,000 domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers. Ovo Energy will absorb all of the costs of honouring customers’ credit balances and the migration of customers. Customers of Economy Energy will be contacted…
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Annual household bills have risen by over £550 in the past three years according to new findings from comparethemarket.com– increasing three and a half times faster than inflation over the same period. The new research, which analyses the average cost of energy, home and motor insurance since 2015 has shown a relentless rise in bills for…
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Arvato Financial Solutions (AFS) has appointed a new CEO for the UK market Debbie Nolan, who has spent the last one and a half years as Commercial Director for AFS will take up the position with immediate effect. Arvato Financial Solutions provides professional financial services to renowned international brands as well as respected local businesses.…
Read moreA new webinar taking place on Wednesday 30th January at 12pm GMT will explore how consumer debt collections can be optimised. The webinar presented by Lightico will explore how consumer debt collections can be optimised for 2019 and beyond. The webinar will analyse key insights gleaned from 100,000 collection calls and present practical, provenly effective advice…
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A new industry careers site for the credit industry and collections industry has been launched by Credit Connect Media. The website is a careers platform which aims to connect the UK’s top credit and collections industry talent with the best career options. Credit-connection.co.uk is an industry careers website sharing the latest job vacancies and a training course…
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Stafford Borough Council is set to write-off business rate and tax debts worth more than £77,000. The authority’s cabinet agreed to write off eight cases at a meeting last Thursday. A cabinet report said that there were five council tax cases totalling £22,037.64 and three business rate cases totalling £55,027. Councillor Ken Williamson, cabinet member for…
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Economy Energy, an energy supplier with about 235,000 domestic customers, has ceased to trade, this follows last week’s news that it had been by banned by Ofgem from taking new customers. Under Ofgem’s safety net, the energy supply of Economy Energy’s customers will continue and prepayment meters can be topped up as normal. The outstanding credit…
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Unsecured debt has hit a new peak of £15,400 per household according to new analysis by the Trade Union Congress (TUC) with a further threat of families being pushed further into the red, Debt levels are now higher than before financial crash. The new analysis by the TUC shows that household debt rose sharply over 2018, with…
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The Consumer Council for Water (CCWater) secured £930,000 in financial redress for consumers as complaints made to it about water companies and retailers rose. Almost 5,200 homes and businesses turned to the CCWater for help with a complaint during the first six months of the year, a rise of 14 percent compared to the same period last…
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Ofgem has banned Economy Energy from taking on new customers until it resolves its customer service issues. The provisional order against the supplier also bans it from requesting one-off payments and increasing direct debits. The ban will initially remain in place for up to three months in order for Economy Energy to take steps to:…
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Over one fifth of Brits (22%) say they feel most financially under pressure in January, following the excess of Christmas according to research from TDX Group, an Equifax company. The research indicates that of all the months in the year, January is the most financially difficult, with 26% of females flagging it as a pressure…
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