Credit, Collections & Insolvency News
Arrow Global has announced its acquisition of Eagle Street Partners, a real estate asset manager and developer focused primarily on the UK and Ireland. This acquisition will support one of Arrow Global’s core investment strategies, which alongside Direct Lending and Opportunistic Credit, focuses on European Real Estate. Eagle Street’s experienced team is led by Co-Founder…
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Here is an overview of The Money Charity’s latest statistics for April 2023 Personal debt in the UK People in the UK owed £1,839.3 billion at the end of February 2023. The average total debt per household, including mortgages, was £65,510 and per adult was £34,582, around 105.3% of average earnings. Net mortgage lending rose by…
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Annual figures from Accountant in Bankruptcy (AiB) have indicated that personal insolvency numbers in Scotland rose by nearly 3% in the year 2022-2023. The figures showed taht there were 8,004 personal insolvencies, this was an increase of 3% on 2021-2022’s figure of 7,769, a rise of 5.3% on 2020-2021’s figure of 7,600 and a fall…
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European credit management services specialist, Lowell has announced its full-year results for the 12 months ended 31st December 2022. The company showed that cash income and cash EBITDA growth of 8% and 7% respectively YoY with Cash EBTIDA margin held flat at 59% YoY as guided. Lowell also showed a strong collection performance at 101%…
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New figures released by the Trussell Trust have revealed that almost 3 million (2,986,203) emergency food parcels were provided to people facing hardship between April 2022 and March 2023, with more than a million of these parcels provided for children. This is the most parcels food banks in the charity’s UK-wide network have ever distributed…
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More than 16 million households have over £6.7 billion in energy credit balances with their suppliers according to new research from Uswitch.com. Credit balances are £5.3 billion higher than last year against the background of a mild winter and household efforts to reduce energy use. Households also benefited from the £400 in Government energy support between…
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Households on traditional prepayment meters are being urged by the Government to redeem their energy bill support vouchers, with £160 million remaining to be claimed. Prepayment meter customers have so far claimed £620 million under the government’s Energy Bills Support Scheme (EBSS). New figures show that more than £780 million in EBSS vouchers have been…
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Money and mental health are strongly linked, with a report from the Money and Mental Health Policy Institute showing one in five people (18%) living with a mental health problem are also in problem debt and are also 1.5 times as likely to struggle with bills and credit commitments. A report titled ‘Mental Health and…
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Latest ONS data has found that the cost of living crisis has seen as a fifth of households go without heating. The research found that around one in twenty adults (5%) reported that they had run out of food and couldn’t afford to buy more in the previous two weeks amd that almost half (49%)…
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StepChange has announced the appointment of Alex Pitcher as its new Chief Risk Officer, who will join the charity in June. Pitcher is currently leading credit reference agency TransUnion’s global risk management team and approach, having previously managed the UK risk function. StepChange says Pitcher’s wealth of experience will be crucial to supporting the implementation…
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Experian has announced the launch of a new service called Support Hub gives disabled people and those with additional support needs an easy, one-stop portal to tell organisations what they need to access essential services The company is piloting a new solution that aims to help disabled people get easier access to essential services like…
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Debt advice specialist, Money Wellness has announced that it has formed a new strategic partnership with Rethink Mental Illness, following the company’s recent commission by Money Advice & Pensions (MaPS) to deliver free debt advice and debt relief orders in England. Rethink Mental Illness, the national charity which aims to improve the lives of people…
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Deceased account management business specialist Phillips & Cohen Associates (PCA) has announced that it has completed the acquisition of debt recovery and credit management services provider, Ardent Credit Services following approval from the Financial Conduct Authority (FCA). Ardent will now formally become a wholly owned subsidiary of PCA’s UK business. Adam Cohen, Co-Founder and Chief…
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