Credit, Collections & Insolvency News
The debt collection industry has taken a step towards stopping people in debt with mental health problems from having to pay to prove their condition at the very time they are least able to afford to do so. Coinciding with Mental Health Awareness Week, the Credit Services Association (CSA), the voice of the UK debt…
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More county court judgments (CCJs) were registered against consumers in England and Wales during Q1 2018 than any other quarter since current records dating back to Q1 2005 began, according to figures released by Registry Trust. During Q1 2018, 305,877 judgments were registered against consumers in England and Wales – over double the 150,622 consumers…
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Here is an overview of The Money Charity’s latest statistics for May 2018: Personal debt in the UK People in the UK owed £1.584 trillion at the end of April 2018. This is up from £1.53 trillion at the end of April 2017– an extra £1,026.74 per UK adult. Per adult in the UK that’s an average debt of £30,601 in…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business fell 10% by value and 13% by volume in March, compared with the same month in 2017. In Q1 2018 as a whole, new business increased 1% by volume compared with the same quarter in 2017. Fiona Hoyle,…
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UK Finance’s latest Mortgage Arrears and Possessions Update for the first quarter of 2018 reveals that: There were 78,800 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance in the first quarter of 2018, 8 per cent fewer than in the same quarter of the previous year and the lowest…
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Debt Purchaser, Arrow Global has announced its latest company results (for the three months ended 31 March 2018). Commenting on the results Lee Rochford, Group Chief Executive Officer, said “The power of our differentiated model has meant that we have had another strong start to the year. Our sophisticated approach to capital investment and asset management, underpinned…
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Debt purchaser, Cabot Credit Management has announced that it is to become a wholly-owned subsidiary of Encore Capital Group. The announcement was made as part of the companies latest financial results for the three months ending 31 st March 2018. Commenting on the results Ken Stannard, Chief Executive Officer, Cabot Credit Management, said: “Cabot Credit Management…
Read moreThe number of debt judgments registered in Jersey rose slightly during the first Quarter (Q1) of 2018, according to figures released today by Registry Trust. In Q1 2018, a total of 543 debt judgments were made, 13 percent more than during the same quarter last year. This increase in total volume was caused by an…
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More than half of consumers with debt are struggling according to a new poll that reveals most people take on the strain themselves rather than seek help. The Nationwide Building Society poll of more than 2,000 UK adults reveals that of those in debt, 57 percent are experiencing debt problems and feel like they are…
Read moreThe Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has confirmed the line-up of speakers for this year’s UK Credit and Collections Conference (UKCCC). Two senior executives from the Financial Conduct Authority (FCA) – Roma Pearson (Head of Consumer Credit) and Richard Fox (Head of Cross-Sectorial & Funds…
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Millions of consumers feel they are ‘living beyond their means’, a study has found. Researchers discovered a large percentage of the nation fall back on credit cards and overdrafts when wages fail to last until the end of the month according to new research by Vantage Leasing. Of the 2,000 Consumer surveyed, 43 percent have…
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The number of tickets issued to drivers on parking on private land has surged by almost a million in just 12 months to a new high, the latest official data suggests. RAC Foundation analysis of DVLA data shows that in the last financial year (2017-18) 5.65 million sets of vehicle keeper records were released to…
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The Insolvency Service has released the latest numbers personal insolvency in Quarter 1 (January to March 2018). The figures show that individual insolvencies reached the highest quarterly level since Quarter 3 of 2012. This was driven primarily by an increase in individual voluntary arrangements, which reached a record high, while the number of bankruptcies and…
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