Credit, Collections & Insolvency News
The number and total value of small claims judgments in Northern Ireland dropped to record lows in the first quarter of 2019 compared to the same period the previous year, according to figures released by Registry Trust. There were 1,750 small claims judgments in the first three months of 2019, 22 percent fewer than in…
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Insurance provider, Hastings Direct, has announced it has extended its relationship with Equifax, the consumer and business insights expert, in a multi-year deal. Equifax provides fully integrated data solutions to inform and support the speed and accuracy of Hasting Direct’s pricing decisions. The partnership between Equifax and Hastings Direct harnesses consumer data, ID verification and…
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The number of complaints to the Financial Ombudsman Service (FOS) about fraud and scams has surged to record highs, figures show. The 40% rise in grievances after people have been tricked out of their money has pushed the overall number of complaints to its highest level in five years. For the first time in ten…
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The Financial Ombudsman Service (FOS) has released its latest complaints data which shows that complaints against high-cost short term loan providers (payday lending) rose by 130% in March. High-cost short term lending complaints accounted for 39,715 of the new disputes. FOS said the surge of complaints in the sector contributed to a 14% rise in…
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A new study of parents has discovered the true price parents will pay for extracurricular activities before their children turn 18, with as many as 77 percent admitting they feel under huge pressure to find extra cash each week for activities, tuition, sports training and clubs, as school budgets are cut and families are left…
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Fintech platform Freedom Finance has announced that it has appointed Jake Ranson as Chief Customer Officer (CCO) to further drive its digital transformation. Ranson joins from Equifax where he held the position of Chief Marketing Officer for Europe. Ranson will be responsible for furthering Freedom Finance’s customer strategy, helping potential borrowers to understand and unlock…
Read moreAccording to the National Numeracy Day campaign, around half the UK’s adults have poor numeracy skills. Yet evidence suggests becoming a “numbers person” can help you save money and make money. To mark National Numeracy Day, StepChange is hosting a “Budgeting Special” Facebook Live event from 12:30pm onwards [15 May], to which questions can be…
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New figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q1 2019 was 24, 47.8% lower than in the first quarter of 2018. The rate of second charge mortgage repossessions (as a percentage of outstanding agreements) was 0.08% in the twelve months to March 2019.…
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Three in ten (28%) consumers ran a ‘deficit budget’ in the past month, spending more during the month than they received in income, according to new research from R3, the insolvency trade body, and ComRes. One in six consumers (17%) spent up to £100 more than they received in income over the past month; 7%…
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The number and total value of debt judgments in Jersey fell in the first quarter of 2019 compared to the same period 2018, according to figures released tby Registry Trust. There were 448 judgments registered in Jersey during Q1 2019, 17 percent fewer than in the first three months of 2018. The average value of…
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Free debt advice specialist, PayPlan, has surveyed its clients to find out how being in debt has impacted their mental health. The survey found that over 85% of clients reported that being in debt negatively impacted their mental health, reporting feelings of stress (91%), anxiety (84%) and depression (68%). Almost half of those surveyed visited…
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Business advisory firm, Quantuma has completed a merger with Kingsland Business Recovery, which sees the firm open three new offices across the Midlands and Yorkshire As a result of the merger, Quantuma will take on Kingsland’s offices in Bradford, headed by Partner, Rehan Ahmed; and Nottingham and Birmingham, led by Partner Tauseef Rashid, as well…
Read moreDebt collection specialist Opos has announced that it has appointed John Freel as Head of Client Engagement. Freel has over 30 years’ experience within the collection and debt purchase industry and is known for his honesty, integrity and commitment to exceeding clients’ service requirements. Freel said “My reasons for joining Opos were straightforward. Firstly, I…
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