Credit, Collections & Insolvency News
Debt Buying members of the Credit Services Association (CSA), the voice of the debt collection and debt purchase sectors, are on target to contribute at least £25.5 million in voluntary ‘Fair Share’ payments in 2018* to help fund free-to-customer debt advisers This is an increase on the 2017 total of £23 million which at the…
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Up to 18 million mobile phone customers are paying additional costs in order to stay connected, totalling over £64 million nationwide, for additional smartphone data, according to research from comparethemarket.com. Exclusive new research, found that 44% of consumers with a monthly mobile phone contract, have gone over their allocated data allowance before the end of…
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New research shows those in control of their finances feel generally calmer, happier and less worried – yet two million over-65s have no one they feel comfortable talking to about money. New research for Age UK shows the importance of older people feeling on top of their finances, with a third (33 per cent) of…
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The average value of a consumer county court judgment (CCJ) reached a historic low during the third quarter of 2018, according to new figures released by Registry Trust. The fall in average value was accompanied by a fall in number to 276,097, down 13 percent compared with the same quarter of the previous year. The…
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New research published by the University of Bristol, in partnership with the Money Advice Trust and the Money and Mental Health Policy Institute has outlines the experiences of nearly 1,600 UK debt advisers when supporting people in vulnerable situations. The report, Vulnerability: the experience of debt advisers – which was grant funded by the Money…
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The number of debt decrees registered against Scottish consumers rose by six percent more than in the third quarter of 2017. During Q3 2018, 5,668 debt decrees were registered against Scottish consumers. A further one percent increase on last year’s historic Q3 high in the average value of small claims and summary cause decrees set a…
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Consumers are hiding more than £96 billion of debt from their friends and family, with the average amount of hidden debt in the UK standing at £4,164 per person. These findings come from new research by the Money Advice Service for Talk Money Week – a public awareness campaign held this week (from 12th to 18th November),…
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Rule-breaking bailiffs are causing people increased stress, anxiety and financial hardship, according to new research published today by Citizens Advice and StepChange. The charities are calling for the government to step in and regulate the industry to prevent more people suffering at the hands of debt collectors who flout the rules. New figures reveal that…
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UK Finance’s latest mortgage arrears and possessions update for the third quarter of 2018 has revealed that there were 77,600 homeowner mortgages in arrears of 2.5 percent or more of the outstanding balance in the third quarter of 2018 showing that arrears remain at a historic low. This is 5 percent fewer than in the…
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New figures released today by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q3 2018 was 36, 5.9% higher than in the same quarter in 2017. The annual rate of second charge mortgage repossessions as a percentage of average outstanding agreements at the end of Q3 2018…
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The interim findings of the Financial Conduct Authority’s (FCA) Mortgage Market Study have highlighted the challenge of mortgage prisoners. In addition, the report says long-term and lifetime lending is another concern and that the FCA is looking to firms to use their common sense to make sure they’re matching the right products to the right…
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The UK public sector outsourcing market recorded its highest quarterly performance since 2016 in the third quarter of 2018, as government departments focused on securing deals for IT and tech services, according to the Arvato UK Outsourcing Index. The research, compiled by business outsourcing partner Arvato and industry analyst NelsonHall, found that the strong performance…
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R3 has welcomed the news that the Government has launched a consultation on introducing a “breathing space” for indebted individuals, Stuart Frith, President of insolvency and restructuring trade body R3, said “R3 welcomed the Government’s plans for a ‘breathing space’ for indebted individuals, during which they will have an opportunity to seek advice about their finances…
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