Credit, Collections & Insolvency News
In the first three months of 2019, the number of decrees against Scottish consumers dropped by 28 percent, compared to the same period of 2018, according to figures released by the Registry Trust. During the first quarter of 2019, 5,253 debt decrees were registered against consumers. There was a 29 percent decrease in the combined…
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Financial capability charity, The Money Charity, has announced that it has now reached over 200,000 recipients of their high-quality financial education in a Money Workshop at Darton Academy in Barnsley. Delivering financial education to young people has never been more essential as negotiating the world of money and personal finance remains a confusing, intimidating prospect…
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The Fairness Group has issued a joint public statement as it sets out how the government will work with the advice sector to support vulnerable people and those in financial hardship. The Fairness principles are aligned to Financial Conduct Authorities (FCA) guidelines on Treating Customers Fairly. These Principles are embedded in the Cross Government Debt…
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The Insolvency Service has published its latest insolvency statistics which indicate that the underlying number of personal insolvencies decreased in England & Wales. Total individual insolvencies fell in Q1 2019 from an 8 year high in Q4 2018. This fall was largely driven by a decrease in the number of individual voluntary arrangements (IVAs) though…
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Latest figures released by the Registry Trust shows that the number of consumer debt judgements increased in Ireland during Q1 2019. There were 595 judgments registered against consumers in Ireland during Q1 2019, 26 percent higher than the same quarter of the previous year, according to figures released today (April 29 2019) by Registry Trust.…
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The Insolvency Panel has announced a new partnership with credit referencing agency TransUnion (formerly Callcredit) that will allow its clients access to credit reporting information for the first time. The detailed data available from TransUnion will be a valuable resource to those seeking debt management and insolvency counsel. The Insolvency Panel is an industry group…
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‘Outdated and punitive council tax regulations’ are encouraging local authorities to collect arrears aggressively and is causing people serious financial harm, according to new research by Citizens Advice. Citizens Advice new research shows missing an average council tax payment of £167, in the first month of the financial year, can escalate to a debt of…
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Here is an overview of The Money Charity’s latest statistics for April 2019: Personal debt in the UK People in the UK owed £1.633 trillion at the end of February 2019. This is up from £1.584 trillion at the end of February 2018, an extra £942.39 per UK adult over the year. The average total debt per household,…
Read moreAccountant in Bankruptcy’s (AiB) has published its latest scottish personal insolvency provisional figures for the financial year 2018-19 which show there were 4,862 awards of bankruptcy compared to 4,644 during 2017-18. The number of personal insolvencies (bankruptcies and protected trust deeds) in Scotland rose by 29% in January-March 2019 compared with the same quarter the…
Read moreThe Credit Services Association (CSA), has responded to the ongoing debate around future funding of the debt advice sector which will see some £172 million of funding provided to providers in 2019. The CSA says that it is right that Financial Services firms should be a significant contributor to debt advice funding, but they should…
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The Financial Conduct Authority (FCA) has published its Business Plan for 2019/20, which outlines the key priorities for the coming year. As the UK finalises preparations to leave the European Union, the immediate priority will remain supporting an orderly transition post-exit. The FCA will also continue to play a leading role in shaping the global…
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Two in five (40%) British adults are at least fairly worried about their current level of debt, while the same proportion (40%) say they sometimes or often struggle to make it to payday, according to research by insolvency and restructuring trade body R3. The figures, from the latest in the long-running R3/ComRes survey of over…
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The amount of money being achieved for a repossessed home by Spicerhaart Corporate Sales is at its highest level in nine months. Spicerhaart Corporate Sales achieved an average of 104.29% against the market value on properties that were taken into possession and sold in March 2019. This figure is up from an average of 96.73%…
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