Credit, Collections & Insolvency News
The Insolvency Service has released a statistical breakdown of individual insolvencies in England and Wales, by region, county, unitary authority and local authority levels. The statistics also include age and gender breakdowns of individual insolvencies at region level. The statistics cover the calendar years 2000 to 2016. Main Messages The total insolvency rate increased for…
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Citizens Advice Cymru has called on the Welsh Government to ban letting agent fees in Wales. New analysis from the charity reveals that renters in Wales pay at least £3 million a year in fees when they move into a privately rented home, with charges averaging £178. The total figure could be even higher as…
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R3 has published its latest UK personal finances statistics which indicated that two-fifths (41%) of British adults are at least fairly worried about their current level of debt, while a similar proportion (40%) say they sometimes or often struggle to make it to payday, says insolvency and restructuring trade body R3. The figures, from the…
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Mounting debt is causing six in ten (59%) ‘Middle Britain’ families to fall short of the recommended level of savings to be financially resilient – leaving them at risk of being hit hard if they were to lose their income, according to new research by leading insurer, LV=. In the final instalment of its ‘Income…
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RBS has announced its plans to postpone the introduction of cut-price credit cards and the Labour Party has pledged to back legislation limiting the amount of interest that can be charged on credit card debt. Key industry groups have responded to the developments in the consumer credit landscape. Steve McNicholas, Managing Director – Credit and…
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Accountant in Bankruptcy(AIB) has announced that paper bankruptcy applications are to end with all debtor applications to move online from September 2017. From 30 September 2017, money advisers and insolvency practitioners working on behalf of debtors will no longer be able to submit bankruptcy applications on paper forms, with the whole process moving online. Not only…
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The Money Charity has appointed Erik Porter as Head of Adult & Industry Programmes. In this role, Porter will have responsibility for adult financial capability programmes and industry consultancy services. Porter has 20 years experience in retail banking within Collections & Recoveries, Credit Operations, and Risk & Control including time spent at Citi and Barlcays/Barclaycard.…
Read moreRising debt levels and the continued struggle to meet essential household bills are among the key findings from the latest statistical research released today by StepChange Debt Charity. The Statistics Mid-Year Book which examines the latest trends from the charity’s client data, highlights how increasing numbers of the under-40s, lone parents and people in rented…
Read moreHere is an overview of The Money Charity’s latest statistics for September 2017: Personal debt in the UK People in the UK owed £1.548 trillion at the end of July 2017. This is up from £1.489 trillion at the end of July 2016 – an extra £1033.06 per UK adult. Per adult in the UK…
Read moreThe Money Advice Service has announced its 2017 over-indebtedness figures for the UK. This year’s report by the Money Advice Service and CACI reveals that 8.3 million (15.9%) people in the UK are living with a debt problem – the figures show a moderate increase from figures released in 2016 (15.4%). The statistics from the…
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A new report from the Department for Work and Pensions (DWP) says that a five-week wait for Universal Credit has been a major factor in pushing claimants into rent arrears. The report shows that people on the new benefit are falling into rent arrears, with over 2 in 5 saying this was due to problems with…
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The Money Advice Service (MAS) has announced the date of this year’s Financial Capability Week 2017. The Week will take place on 13th – 19th November and aims to celebrate, showcase and amplify the work underway to improve financial capability and wellbeing through a series of events on why it matters and how to improve…
Read moreNew figures released by the Department for Work and Pensions (DWP) show over half of families on Universal Credit receive help with their housing costs, Citizens Advice says that problems with the new benefit – such as the long wait for payment – mean thousands could be at risk of falling behind on their rent.…
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