Credit, Collections & Insolvency News
Here is an overview of The Money Charity’s latest statistics for September 2017: Personal debt in the UK People in the UK owed £1.548 trillion at the end of July 2017. This is up from £1.489 trillion at the end of July 2016 – an extra £1033.06 per UK adult. Per adult in the UK…
Read moreThe Money Advice Service has announced its 2017 over-indebtedness figures for the UK. This year’s report by the Money Advice Service and CACI reveals that 8.3 million (15.9%) people in the UK are living with a debt problem – the figures show a moderate increase from figures released in 2016 (15.4%). The statistics from the…
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Business process outsourcing (BPO) Target Group, has announced several new senior appointments to its Board of Directors and within its leadership team. Andrew Doman and Vivek Agarwal have joined as Non-Executive Directors. Andrew is currently Chairman at Castle Trust and a Non-Executive Director at One Savings Bank. Dorman will help advise on Target’s business strategy…
Read moreSwedish debt purchaser, DDM Debt AB has announced that it has entered into an agreement to acquire a portfolio of distressed assets from a leading bank in the Czech Republic. The total investment amounts to approximately €12 million. Andreas Tuczka, CEO of DDM, said “This investment is in line with our strategy to continue to…
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Qualco UK has been awarded ISO 14001 certification by The British Assessment Bureau. The internationally recognised standard is awarded to organisations that have an effective Environmental Management System (EMS) in place, demonstrating a business-wide commitment to reducing the environmental impact of its activities, products and services through effective recycling, safe waste disposal, pollution prevention and…
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New figures released by the Department for Work and Pensions (DWP) show over half of families on Universal Credit receive help with their housing costs, Citizens Advice says that problems with the new benefit – such as the long wait for payment – mean thousands could be at risk of falling behind on their rent.…
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Statutory debt relief and debt management products overseen by Accountant in Bankruptcy (AiB) have returned £80 million to creditors in the past year, according to the Annual Report and Accounts published by the Agency today (13 September 2017). A record 1,603 debt payment programmes under the Scottish Government’s pioneering Debt Arrangement Scheme were also completed in…
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Citizens Advice is warning that the expansion of Universal Credit is ‘a disaster waiting to happen’, as as new findings show it is pushing people further into debt. The charity says that the government’s plans to accelerate roll-out of the benefit from five to 50 areas a month from October could have catastrophic consequences, as…
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Speech and customer engagement analytics supplier CallMiner and deceased Account Management services specialist, Phillips & Cohen Associates, have been shortlisted for the ‘Best Customer Insight/Voice of the Customer Initiative’ by the European Contact Centre and Customer Service Awards (ECCCSA) Phillips & Cohen was shortlisted for achieving significant customer experience benefits from its deployment of the…
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The Money Advice Trust has launched a new face-to-face training course designed to help creditor staff to better support customers affected by gambling, alcohol and substance addictions. The course has been developed in partnership with the Royal Bank of Scotland and NatWest, and can be tailored to creditor organisations across a range of sectors. The…
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Wigan council has seen a rise in tenants falling into arrears with the ratio of tenants failing to make council rent payments rising in the past three years. A report given to the town hall’s housing advisory panel has highlighted the growing problem of people missing more than seven weeks of payments in a row. Contrary…
Read moreArrow Global Group has announced its latest interim results for the six months to 30 June 2017. Highlights include: · Strong organic portfolio purchases up 30.3% to £125.1 million (H1 2016: £96.0 million) · Revenue growth of 47.6% supported by 11.3% increase in core collections and 98.6% increase in Asset Management income from H1 2016…
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Debt Purchaser, Motormile Finance (MMF) have been awarded a Silver rating for ‘outstanding’ customer service – from Investors in Customers (IIC). IIC, a customer experience consultancy, surveys customers, staff and senior management to assess how well a business understands its customer needs and how well it delivers services that meet those needs. Denise Crossley CEO…
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