Credit, Collections & Insolvency News
Latest figures released by Christians Against Poverty (CAP) has highlighted the depression, anxiety and stress caused by spiralling personal debt. Three quarters (75%) of the people being helped by Christians Against Poverty (CAP) sought medical attention as they lived with the burden of failing finances. 1,200 debt clients were surveyed with a shocking 38 per…
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Here is an overview of The Money Charity’s latest statistics for May 2017: Personal debt in the UK People in the UK owed £1.529 trillion at the end of March 2017. This is up from £1.484 trillion at the end of March 2016 – an extra £886.84 per UK adult. The average total debt per…
Read moreThe Bank of England’s latest money and credit statistics have revealed that mortgage approvals have fallen to a six month low. The statistics also show an increase in consumer debts such as credit cards and loans. The Bank of England’s figures for March 2017 show consumer credit increased by 10.2% in the year to March, to…
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Fewer debt judgments were recorded in the Four Courts during the first three months of 2017 than in any other first quarter on record, according to figures released today by Registry Trust. There were 535 judgments registered against consumers in Q1 2017, three percent fewer than the same period last year. It marks the fourth…
Read moreCredtfix is calling on the Scottish Government to widen its offering of debt solutions to Scottish residents struggling with their personal finances, beyond just the Debt Arrangement Scheme (DAS) that has been in place since 2004. Glasgow-based Creditfix wants different solutions to be offered depending on individuals’ personal circumstances. Pearse Flynn, CEO of Creditfix said…
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The number of debt judgments in Northern Ireland fell slightly during the first three months of 2017, according to figures released today by Registry Trust. There were 1,925 small claims judgments in Q1 2017, three percent fewer than the first quarter of 2016. The total value rose by six percent, however, to £3.9m. The average…
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A study, by the International Longevity Centre-UK (ILC-UK), supported by the Building Societies Association (BSA) has found that borrowing into older age is likely to move from niche to mainstream within the next decade. The amount of mortgage debt held by over 65s is set to increase by more than £19 billion by 2030 (from…
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The latest results Insolvency statistics from The Insolvency Service for Quarter 1 (January to March 2016) reveal that Personal Insolvency numbers have gone up. The main findings of the report were: Total individual insolvencies increased this quarter, driven primarily by an increase in individual voluntary arrangements. This was the highest number of individual insolvencies since Q2…
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A new briefing note released by the Institute for Fiscal Studies (IFS) has analysed the impact of tax and benefit changes since May 2015 on the incomes of different kinds of households. One of the key findings in the reports suggests that the one million families with children and nobody in paid work would be…
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Accountant in Bankruptcy (AIB) has published Scotland’s latest Insolvency figures. The provisional number of personal insolvencies in Scotland increased by 1,484 or 18% to 9,958 in 2016-17 when compared with 2015-16. Estimates for 2016-17 are provisional until final figures are published in July 2017. The number of personal insolvencies (bankruptcies and protected trust deeds (PTDs)) increased…
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Fewer Scots have accessed statutory debt solutions according to the figures from Accountant in Bankruptcy (AiB) for the fourth quarter of 2016-17. Compared with the third quarter of 2016-17, total personal insolvencies, which include bankruptcies and protected trust deeds, fell by 3.9%. In the three months between 1 January and 31 March, bankruptcies fell by…
Read moreHere is an overview of The Money Charity’s latest statistics for April 2017: Personal debt in the UK People in the UK owed £1.524 trillion at the end of February 2017. This is up from £1.476 trillion at the end of February 2016 – an extra£964.450 per UK adult. Based on February 2017 trends, the…
Read moreAnalysis from The Insolvency Exchange, part of TDX Group, reveals that volumes of personal insolvency in the UK are likely to see a significant spike in 2017. The company’s latest Insolvency Market Trends data highlights that new Individual Voluntary Arrangement (IVA) and Trust Deed (TD) applications continue to rise and volumes could increase by as much…
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