Credit, Collections & Insolvency News
Here is an overview of The Money Charity’s latest statistics for September 2018: Personal debt in the UK People in the UK owed £1.592 trillion at the end of June 2018. This is up from £1.545 trillion at the end of June 2017– an extra £900.74 per UK adult. People in the UK owed £1.5955 trillion at the end of July…
Read moreThe winners of the second annual 2018 Credit & Collections Technology Awards have been revealed. There were sixteen winners from the eighteen Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation. The awards ceremony was held at Credit Services Association’s (CSA) annual Gala dinner at the…
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The winners of the second annual Credit & Collections Technology Awards were announced last night at the Credit Services Associations’s annual Gala dinner at the Crown Plaza in Stratford-upon-Avon. Eighteen winners from the Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation were revealed. Stay tuned…
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Computershare Loan Services has confirmed it has been appointed standby administrator by Belmont Green for its latest securitisation. The mortgage servicer will undertake the role for Belmont Green Tower Bridge Funding No 2 plc as well as acting as delegate mortgage administrator for the loans. Andrew Jones, Chief Executive Officer at Computershare Loan Services, said:…
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Energy regulator Ofgem has announced its price cap measures which it says will benefit over 11 million more households on poor value default tariffs and protect them from being overcharged. The announcement follows Parliament passing the Government’s Domestic Gas and Electricity (Tariff Cap) Act, which became law on July 19 and gives Ofgem a duty…
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A report by the National Audit Office (NAO) has revealed that problem debt costing the economy £847 million a year. The report has found that £248m of that sum came from increased use of housing and health services Problem debt – defined as the inability to pay debts or household bills – affects an estimated…
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New research from Royal London reveals the average cost of a funeral is £3,757, with costs having stabilised this year (£3,784 in 2017). The Royal London National Funeral Cost Index, in its fifth year, shows that London has consistently been the most expensive region in the UK for a funeral, with the average funeral costing…
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One-in-five (22%) consumers in Scotland has had an outstanding credit card balance for at least six months, according to a survey by R3 in Scotland, the insolvency trade body. The research, part of a long-running survey of Britain’s personal finances by R3 and ComRes, also found that, of the 35% of Scottish adults are concerned…
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Londoners are more likely to be struggling with debt than the rest of the UK despite average higher incomes. That is according to London in the Red, a new report from StepChange Debt Charity, that reveals 100,000 Londoners sought their debt advice, meaning one in six of its clients last year came from London. The…
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Computershare Loan Services has confirmed it has become the first domestic third-party administrator to act as standby servicer for a ‘Sukuk’ or Islamic Certificate issued in sterling in the UK. Al Rayan Bank recently made history with Tolkien Funding Sukuk, which is the largest that has been issued in sterling in the UK. Andrew Jones,…
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Water companies across England and Wales have submitted their plans to cut consumer bills. The plans were shared with Ofwat as part of their business plans for the years 2020-2025. As part of Ofwat’s 2019 price review, all water companies must set out a detailed business plan outlining how they will meet the needs of…
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Debt recovery law firm, Ascent, has appointed Robert Matthews as its Head of Sales. Based in Ascent’s offices at One St Peter’s Square in Manchester, Matthews moves from Debt Managers Services Ltd, part of Secure Trust Bank, where he was Commercial Director. Matthews’s other roles in a career spanning 30 years within the financial services…
Read morePeople are increasingly struggling with ‘smaller but trickier’ debts on everyday household bills, according to new figures from National Debtline, run by the Money Advice Trust. The charity expects the number of calls to National Debtline to hit 189,000 by the end of the year – the highest level in five years – with webchat…
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