Credit, Collections & Insolvency News
New research by Which? has found that around 2.5 million households missed payments in January. According to the latest findings from Which?’s consumer insight tracker, an estimated 2.5 million households missed or defaulted on at least one mortgage, rent, loan, credit card or bill in January 2022. This marks a significant increase on December 2021,…
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The 2022 Credit & Collections Technology Awards have opened for entries. Launched in 2017, the fourth annual awards seek to recognise excellence in credit and collections technology. The Credit & Collection Technology Awards powered by Credit Connect are judged by independently selected judges from across the industry, who have the enviable task of identifying the best and greatest…
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Latest figures from Accountant in Bankruptcy (AiB) has indicated that personal insolvency numbers (bankruptcies and protected trust deeds) in Scotland for the year ended 31st December 2021 were 16.9% lower than in the year ended 31st December 2020, at 7,543 (2021) against 9,078 (2020). The number of personal insolvencies (bankruptcies and protected trust deeds) in…
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New analysis from Citizens Advice shows the struggle that many people, particularly single-parent families, have with debt as the cost of living crisis starts to bite. Citizens Advice’s figures show that around 280,000 people in England and Wales sought one-to-one help with debt in 2021, with many more using its website. Of those, almost 70,000…
Read moreNew research by HL Savings and Resilience Barometer, in partnership with Oxford Economics, has found that higher earners have more debt than any other income group and they also have more debt as a percentage of their income. Higher earners also have a bigger proportion of their debt on variable rates than people on lower incomes.…
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Collections specialist, DebtStream has announced that it has raised £1.1 million of funding with the aim of revolutionising collections experience. The company has raised £1.1 million led by Ascension’s Fair By Design Fund, with participation from Fin Venture Capital, a US fund focused on B2B SaaS. A number of angels also participated in the round…
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A collective of industry experts from across the consumer credit, debt advice, collections, insolvency, and fintech sectors have joined together to launch ‘debt-tech’ firm Trustfolio which has acquired TIPTrust and Asperitas Technologies. Trustfolio’s mission is to enable better debt solutions and advice through powerful, bespoke technology that makes the process more efficient, cost-effective, and secure…
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New data shows victim-survivors of economic abuse are left with long-lasting harm have an average coerced banking debt of £4,607 and 83% with low financial knowledge and confidence. Charity, Surviving Economic Abuse (SEA) has revealed new data showing that victim-survivors of economic abuse are left without the support they need to escape an abuser and…
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Household bills fell marginally over 2021, with annual costs falling by £37 during the past 12 months, according to new data from comparethemarket.com. This new research which analyses the cost of energy, home, and motor insurance, based on comparethemarket.com’s switching data, shows that household bills were cheaper last year than the two years prior. A typical…
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Ofgem has appointed British Gas to take on supplying Together Energy’s approximately 176,000 domestic customers and 1 non-domestic customer. This follows a competitive process run by Ofgem to get the best deal possible for customers. Funds that current and former domestic customers of the suppliers have paid into their accounts will be protected, where they…
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Flexys Solutions have announced the appointment of James Hill to the position of Chief Operating Officer. Hill previously worked at Tribal Group where he was Global Professional Services Delivery Director with responsibility for project delivery and leadership of the global Professional Services and PMO divisions. He will take responsibility for implementing the strategic vision and…
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Charity, Age UK is calling for urgent action as research by the company shows over 80 per cent of over-65s think the Government should step in to help poorer older people. More than three in five over-65s (62 per cent) – equivalent to 7.8 million older people – are worried about heating their homes compared…
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Almost one in ten private landlords renting to Universal Credit claimants have experienced at least one tenant having difficulties paying their rent due to benefit cuts according to research by National Residential Landlords Association (NRLA). In October last year the Government cut Universal Credit by £20 a week following a temporary increase in response to…
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