Credit, Collections & Insolvency News
The Civil Court Users Association (CCUA) is is calling on the Ministry of Justice (MoJ) and HM Tribunals and Courts Service (HMCTS) to consider far greater involvement by private sector court users in the enforcement of Judgments and Possession Orders to address performance issues. The call follows reports that some property possession appointments in the…
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Silicon Credit Management, a provider of credit management solutions, has announced that its has appointed Rob Sands as its new Chief Operating Officer. Sands brings almost 20 years of operational leadership and financial services experience, making him a valuable addition to the team. he has a proven track record in the financial industry, having served…
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An estimated 5.5 million people (one in ten adults) were behind on their energy bills in April, an increase of 2.1 million compared to March 2022 according to new research from the Money Advice Trust, the charity that runs National Debtline and Business Debtline. The charity’s Under Pressure research, based on an Opinium survey…
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Less than half of children have been taught about money at home or in school, according to a new report from the Money and Pensions Service (MaPS). Financial Foundations, based on a survey of 4,740 children aged 7-17, found that just 47% had received a meaningful financial education in either or both settings. The figure…
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The North East was England’s most affordable region to privately rent last year, Paragon Bank analysis has revealed. In the North East of England, earnings averaged £30,078 in 2022. A rental affordability ratio of 23.5% is derived by dividing this by £7,054, the average annual cost to privately rent a home in the region. This…
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Energy retailers have been urged to simplify the language used in consumer communications after a survey found the majority of customers (76%) are confused by their bill. Consumer group Which?’s research found almost half (48%) of all consumers said they experience a negative emotional response when reading their bills. The research that almost half (47%)…
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Audit, tax and consultancy firm RSM UK has appointed a dedicated Consumer Duty expert to support financial services clients with the new rules, which represents the most fundamental regulatory change programme for the financial services industry since TCF (Treating Customers Fairly) principles were introduced in 2006. Michael McCormick joins RSM’s London office on 12 June…
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New research by TotallyMoney has predicted the impact of the Bank of England’s hiking interest rates by a further 0.25% (to 4.75%) on borrowers with a variable rate mortgage head of the next MPC announcement on the 22nd of June. The research found that for the average UK property costing £270,708 with a 75% LTV,…
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Cost of living pressures have affected UK consumers more than their European counterparts, according to the latest EY UK Future Consumer Index. The twelfth edition of EY’s survey of 1,000 UK consumers found that 62% of UK consumers say they are ‘extremely concerned’ by the cost-of-living squeeze, compared with 50% in the rest of Europe.…
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Households have faced more than a year of high inflation and rising interest rates and the impact of both is becoming more apparent according to new UK Finance data. The research found that squeezed budgets and higher financing costs are bearing down more heavily on affordability for prospective house buyers. The same pressures are, as…
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The Enforcement Conduct Board (ECB) Chief Executive Officer Chris Nichols has welcomed David Parkin on a full time secondment for up to 12 months. Until recently, Parkin was the Deputy Director for Civil Justice and Law Policy at the Ministry of Justice. Chris Nichols said “David brings a wealth of experience to the ECB –…
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Specialist debt purchasing and customer management services provider, Lantern has announced that it has raised a syndicate financing facility with specialist banks Hampshire Trust Bank, Paragon and Shawbrook and alternative investment firm, BCI Capital The EY FS Corporate Finance team has recently advised Lantern on the completion of a £97.5 million amendment, refinance and extension…
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The Money and Pensions Service (MaPS) has announced that its Chief Executive Officer (CEO), Caroline Siarkiewicz, has confirmed to the board that she will not be taking up a second term. Siarkiewicz was appointed as CEO in January 2020 having been acting CEO since June 2019. She will step down at the end of January…
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