Credit, Collections & Insolvency News
Energy regulator Ofgem has published its Market Compliance Review of how energy suppliers help customers in payment difficulties and has found issues ranging from minor through to severe weaknesses, or failings. The research found that, although good practice exists across the industry, with one supplier having no issues, most need to make improvements in processes…
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IE Hub has announced that it has joined forces with StepChange and C&R Software in a partnership to support consumers in financial hardship This partnership will see IE Hub’s income and expenditure solution integrated with both C&R Software’s solution Debt Manager, and StepChange’s debt advice and support solutions service. StepChange Chief Executive, Phil Andrew…
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The Government has announed that around 114,000 people on Universal Credit will be supported to increase their pay while getting access to more one-on-one time with a Work Coach. The changes will bring tens of thousands of claimants of all ages across Great Britain into closer contact with a dedicated Work Coach focused on guiding…
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Chancellor Kwasi Kwarteng announced a series of tax cuts and financial support in the mini budget on Friday (23rd September). The Chancellor announced changes to income tax and stamp duty, alongside plans to cut taxes for businesses in designated sites for ten years to support investment, jobs and growth, and cancelled the planned increase in…
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Almost 1.1 million private renters in England, one in seven, have had their rent increased in the last month, a new report from Shelter reveals. The charity’s research shows millions of private tenants are stretched to breaking point: one in three (2.6 million adults)are spending at least half their household income on rent. And even…
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Indigo Cloud has announced it has appointed Ian Simpson as Director of Business & Client Development where he will be defining new market strategies, driving sales, and overseeing client relationships. Simpson is a collection and recovery specialist who has been active in the industry since 1997 having worked for names such as Transcom, GE Money,…
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Water regulator, Ofwat is calling on water companies to trial creative and targeted ways in calculating customers’ charges to help make sure those who need support can get it. In the midst of cost of living concerns, the regulator is pushing companies to think differently about how they work with customers and develop models of…
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Scottish Power and Utilita have been issued a provisional order by Ofgem compelling the energy suppliers to improve how it treats customers in debt. A review conducted by Ofgem into suppliers’ practices found a number of apparent failings around the way it sets debt repayment plans and deals with customers struggling with bills. Provisional Orders…
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The Bank of England has raised interest rates from 1.75% to 2.25% and indicated that Britain’s economy is now in recession. A majority of the Bank’s nine-member monetary policy committee voted to increase the key base rate by 0.5 percentage points, judging that the risks of inflationary pressures becoming entrenched outweighed the short-term dangers to…
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The Joseph Rowntree Foundation (JRF) is urging the Chancellor to go beyond tax cuts in Friday’s (23rd September) fiscal statement with more targeted support for households that will desperately need it. New analysis from JRF looked at the cost rises facing low-income working-age households on means-tested benefits this tax year compared to last tax year…
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The winners of the 2022 Credit Services Association (CSA) Awards which is hosted as part of the trade body’s annual conference, the UK Credit and Collections Conference (UKCCC) have been announced following a live event at the Radisson Blu Hotel, Manchester Airport last week. Notable wins on the night were for Data on Demand who…
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Almost two in five households (38%) wrongly believe that the Government’s energy price guarantee means their bills cannot go above £2,500, according to new research from Uswitch.com, the comparison and switching service. The measures announced by Prime Minister Liz Truss will support people with their energy bills, and avoid the nightmare scenario of Ofgem’s price…
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A new report from Citizens Advice lays out the need for a way out of the UK’s energy crisis. Despite the recent bills freeze, it warns that many families will continue to struggle with high energy costs and cold, damp homes because of a lack of investment in basic bill-saving measures like insulation. The research…
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