Credit, Collections & Insolvency News
Nine in ten (95%) of adults are concerned about the rising cost of living, with households across the earnings spectrum worried with as much concern among those with six-figure incomes as lower-earners according to new research by mutual insurer, Royal London. Women are the most worried, with a third (33%) mentioning they are extremely worried…
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Ecospend has announced a partnership with Anglian Water where it will begin processing customer payments using open banking technology. Pay-by-bank technology will enable Anglian Water to receive instant account to account payments, which will reduce the utility provider’s processing costs. The partnership will also enable a range of new payment functionalities for Anglian Water customers…
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Vulnerability Registration Service (VRS), has agreed a new partnership with data-driven technology company, Connected Data. The partnership with the Vulnerability Registration Service means that organisations working with Connected Data will now have access to the only UK wide database that provides a view on those individuals who are registered as vulnerable. This means that both…
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UK households spent 2% more on essentials in the last three months (December, January and February), according to the latest Lloyds Bank Spending Power Report. Fuel spend has seen the sharpest immediate increase, up 16% in the three months, as a result of both people returning to offices and rising prices. For similar reasons, commuter…
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Two in five people receiving Universal Credit were forced into debt this winter as payments failed to cover soaring cost of living according to new research by the Trussell Trust. Trussell Trust says new research has revealed the true and devastating consequences of the current cost of living crisis, with hundreds of thousands of families…
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The poorest households could see their cost of living jump by as much as 10% by this autumn, the Resolution Foundation think-tank has warned. Office for National Statistics (ONS) figures show that the unemployment rate fell 0.2 percentage points between November and January to 3.9%. Meanwhile, the number of UK workers on payrolls rose by…
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NatWest Group, Citizens Advice and Citizens Advice Scotland are working together on a pilot project to provide debt support and advice to customers Since 2020 members of staff from Citizens Advice have supported teams from across NatWest by providing a referral service for customers who contact NatWest with issues including with debt, benefits, relationships and…
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Aberdein Considine has announced that it has strengthened its Lender Services Practice Group (LSPG) with the appointment of a new Partner and two lawyers. Neil Patterson has been appointed a Partner in the firm’s Banking Litigation team (part of LSPG) and he will be working with financial services organisations across the UK. He has over…
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Marston Holdings, a provider of integrated technology-enabled solutions from design through to implementation, management and recovery, has announced it has acquired Grosvenor Services Group (GSG), supplier of specialist services to utilities. GSG will form part of Engage, a technology-driven field services provider that conducts over 50,000 visits to people, businesses and their properties every month…
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Latest figures from the Insolvency Service have indicated that personal insolvencies in England & Wales increased by 15.8% to 9,825 in February 2022 compared to 8,486 in January, and were 43.7% higher than February 2021’s figure of 6,839. They were also 14.4% higher than in February 2020 (8,590). There were 2,242 DROs and 588 bankruptcies. The…
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Latest statistics from the Insolvency Service have indicated that Northern Irish business and personal insolvency figures increased the latest quarterly figures. In February 2022 there were 18 business insolvencies registered in Northern Ireland, this was over three times as many as in February 2021, but 33% lower than February 2020. The insolvencies comprised of 10…
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The poorest households could see their cost of living jump by as much as 10% by this autumn, the Resolution Foundation think-tank has warned. The Foundation says that rising food and energy prices risk driving a second inflation spike this autumn that could reach over ten per cent for poorer households – significantly higher than…
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Over 1.8 million adults in Scotland have seen their finances get worse during the Covid pandemic, according to new analysis from Citizens Advice Scotland (CAS). Polling for the charity by YouGov found 41 per cent of Scottish adults found their financial position got worse during the pandemic, with 15 per cent saying their position has…
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