Credit, Collections & Insolvency News
Credit Connect has announced its annual Credit & Collections Technology company power list for 2020. The section edition of the power list is a round-up of the most prominent innovating companies within credit and collections technology. Credit Connect has identified the top 20 ‘Premier’ innovators highlighting the achievements and successes of the top-performing companies.The list…
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One in three people has got into debt since the start of the pandemic, according to a new report by national poverty charity, Turn2us. The findings also reveal how families with three or more children are twice as likely to run out of money as families with only one child. The report, which was co-designed…
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A new report by Lowell has revealed that 32% of consumers say that the pandemic has made them talk about their finances, whilst 31% of the UK worry about their finances every day. Whilst for those who have opened up to others regarding their own debt, 42% said it made them feel that they had…
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The winners of the 2020 Credit & Collection Technology Awards have been announced following a live interactive virtual awards broadcast yesterday (Thursday 19th November). The awards are the flagship event for innovational technological professionals working in credit and collections and the fourth annual event honoured the UK’s technological innovators, celebrating outstanding achievement across nineteen hotly…
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Credit Connect Media will host a free live webinar on Tuesday 15th December which will showcase innovation in mobile collections technology. The webinar titled ‘Agile collections technology that’ll outlive the pandemic’ is the latest in the series of Credit Connect webinars which have looked at the latest thematic innovations enhancing collections strategy. The event partner…
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Older homeowners are using their property wealth to clear debt and help family with nearly three-quarters of the £884 million released going to boost their finances and support relatives, according to new analysis from equity release adviser, Key. Figures from the company’s Quarter 3 (Q3) Market monitor report highlight that the market has returned to…
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Banks and building societies have agreed to allow six month mortgage holidays up until 31st July, 2021, with the industry agreeing the move with the Financial Conduct Authority (FCA). Lenders have committed to renewed support for mortgage customers facing financial difficulty as a result of the Covid-19 pandemic, as the Financial Conduct Authority (FCA) confirms…
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Three-in-ten working-age consumers who have faced a sustained income hit during the pandemic are now unable to afford some basic household costs such as heating and fresh fruit and vegetables, as the persistence of the crisis exacerbates divides in how low- and high-income households are coping financially, according to new Resolution Foundation research. The Foundation’s…
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More than half of consumers have no idea what their current credit score is which could have a huge impact on their financial health according to latest research from Experian. The research of 2,000 adults found three in ten never look at their credit score, while a quarter are unaware of what factors contribute to…
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New figures from the Insolvency Service’s latest personal insolvency figures have risen by 60% in October 2020 when compared to September in England and Wales. Personal insolvencies increased to 11,939 in October 2020 compared to September’s figure of 7,458, and were higher than October 2019’s figure of 10,030. There were, on average, 6,154 IVAs registered…
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Accountant in Bankruptcy (AiB) has published its latest figures which indicate that in October 2020 Scottish personal insolvencies decreased by 32%. The figures show that there were 7,799 personal insolvencies in the year to the end of October 2020, 3,707 (32%) fewer than in the same period the year before. Bankruptcies decreased by 37% in…
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The average adult spends the equivalent of an entire year worrying about money over their lifetime, with more than a quarter admitting it is bad for their mental health. A study of 2,000 consumers found they typically think about their finances four times-a-day, for a total of 28 minutes. This amounts to 170 hours-a-year –…
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New research has found that one in eight families have struggled to cover funeral debts, with a shortfall of almost £2,000 on average causing financial issues. According to SunLife’s ‘Cost of Dying Report 2020’, two in five of us don’t make any financial provision to pay for our own funeral, leaving loved ones to pick…
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