Credit, Collections & Insolvency News
The number and total value of small claims judgments in Northern Ireland dropped in 2018 compared to the previous year, but still show a marked increase on 2016’s record lows. There were 8,021 small claims judgments in 2018, eight percent fewer than in the previous year. The total value dropped by 13 percent to £17.1million,…
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Rent to own specialist Brighthouse has announced that it is shutting 30 of its shops cutting 350 jobs amid tough conditions on the High Street. Brighthouse, which employs about 3,000 people, said it had informed staff. A Brighthouse spokesman said: “We are working to redeploy as many people as possible into alternative roles but redundancies…
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People claiming Universal Credit are still struggling to pay for the roof over their heads, despite the wait for their first payment being reduced from six weeks to five, according to new Citizens Advice data. One in two people the charity helped were in rent arrears or fell behind on their mortgage payments, the same…
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AccountScore, and The Insolvency Panel has announced the launch of the first ever Open Banking solution for the debt advice and debt solutions sector. The service, going live in February, will use AccountScore’s Open Banking platform consents.online to instantly auto-populate consumers’ income and expenditure information, direct from their current account, in complete compliance with the Standard…
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The total number of judgments in 2018 against Irish consumers is at a record low, with consumer judgments down eight percent. However, the value of consumer judgments rose by 22 percent in the same year. There were 1,985 judgments registered against consumers in 2018, eight percent fewer than the previous year and a record low.…
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Latest figures published by the Registry Trust have shown that Scottish debt orders have risen by 7 percent in the past year. During 2018, 24,362 debt decrees registered against Scottish consumers, this was seven percent higher than in 2017. There was also a moderate increase to the combined value of all consumer decrees to £64.1million. The average…
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The number of debt judgments in Jersey fell in 2018 compared to 2017, according to figures released today (February 6) by Registry Trust. However the total value of judgments increased during the same year. There were 1,492 judgments registered in Jersey during 2018, 14 percent fewer than in 2017. By contrast, 3,489 judgments were registered in…
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The Financial Ombudsman Service (FOS) has published its latest quarterly financial products and services complaints data. The statistics include the number of enquiries and new complaints received, the number of complaints referred to an ombudsman’s final decision, and the proportion of complaints resolved in consumers’ favour. The number of complaints about high-cost short term credit (payday…
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The Financial Ombudsman Service (FOS) has released its latest report which shows that it has dealt with around 3,300 inquiries about debt collection and took on over 1,000 new complaints for investigation in 2018. The complaints cover credit and consumer loans, such as mortgages, credit cards and personal or business loans. They don’t include household debts…
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The Irish Central Bank has published the penultimate update on the Tracker Mortgage Examination, showing that, at end-2018, lenders had paid out €647 million to customers affected by their failings. This is an increase of €67 million since end-August. The update also showed that an additional 1,400 affected customers have been included by lenders for…
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Probate Searches & Services Ltd (PSaS) has selected TransUnion (formerly Callcredit) to provide account information checks for its new credit report service to help probate professionals settle estates more quickly and accurately. PSaS is a new business servicing the legal sector with consumer data solutions to help better manage estate administration of probate cases and…
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Gala Technology, developer of cloud-based, PCI DSS compliant payment solution SOTpay, has announced that it has won a PCI: 2019 Award For Excellence in January to follow up on their recent ‘Best Use Of Technology’ within a contact centre win at the national UKCCF awards in November. Jason Mace, Chairman of Gala Technology said “We are delighted…
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The Financial Conduct Authority (FCA) has today set out how it would use the temporary transitional power in the event the UK leaves the EU without a withdrawal agreement. The Treasury has put forward draft legislation that would make transitional provisions if the UK leaves the EU without a withdrawal agreement. This is intended to minimise the disruption for…
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