Credit, Collections & Insolvency News
Latest quarterly figures from Accountant in Bankruptcy (AiB) have shown that overall, personal insolvency numbers in Scotland for Quarter 2 2022-2023 rose by 8% In Q2 2022, there were 2,037 personal insolvencies in Scotland, 8% higher than during the same quarter of 2021. The insolvencies comprised of 1,451 protected trust deeds and 586 bankruptcies (also…
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Latest quarterly statistics from the Insolvency Service have indicated that Northern Irish personal insolvencies increased whilst business insolvency figures declined. The figures showed that in Q2 2022 there were 440 personal insolvencies in Northern Ireland, 25% down on the same quarter of 2021. The insolvencies comprised 373 IVAs, 39 DROs and 28 bankruptcies. Separately there…
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Latest figures fromcomparethemarket.com’s Household Financial Confidence Tracker, has found that nearly half (46%) of households with children at home, the equivalent of 3.8 million families, struggled to pay their bills over the last month, reflecting the worsening conditions for millions of families across the UK as the cost-of-living crisis deepens. Financial anxiety is highest amongst…
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Latest figures from the Registry Trust has shown a significant increase in the number and value of monetary judgments (including CCJs) registered against consumers and business in England & Wales compared to the same period last year. The total number of monetary judgments registered in England & Wales rose from 207,976 in Q2 2021 to…
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New figures from the Registry Trust have revealed that the number of decrees and the value of debt registered in Scotland have seen an increase in Q2 2022 as compared to the same period last year. The total number of decrees increased from 4,356 in Q2 2021 to 5,351 in Q2 2022, an increase of…
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New figures from the Registry Trust have revealed that the number of judgments registered in Northern Ireland saw the number of judgments and the value of debt increase in Q2 2022 when compared to the same period last year. The number of judgments rose from 823 in Q2 2021 to 1,113 in Q2 2022, an…
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One-in-seven customers are still paying the loyalty penalty across the broadband, mobile and mortgages markets in the midst of a cost-of-living crisis according to latest Citizens Advice research, The charity found two-fifths of people (41%) who are paying the loyalty penalty have struggled to sleep due to their finances. Three in 10 (28%) have already…
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Latest Bank of England data has shown that people borrowed an extra £1.8 billion in June, up from £900 million in May showing that consumer credit growth rose 6.5 percent in June 2022. The annual growth rate of credit card borrowing was 12.5 percent with outstanding balances for consumer credit now standing at £203.9 billion.…
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Latest figures from Accountant in Bankruptcy (AiB) have shown that overall, personal insolvency numbers (bankruptcies and protected trust deeds) in Quarter 1 2022-2023 rose by 8.1% The number of personal insolvencies (bankruptcies and protected trust deeds) in Scotland for Q1 rose by 7.4% when compared with the previous quarter (January-March 2022). Commenting on the figures…
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Consumer spending and the number of transactions made by households fell in June, according to Nationwide Building Society’s Spending Report. The latest data is the first real indication of how the cost-of-living crisis is pushing households to cut back on costs while they can. The latest spending data comes as Nationwide prepares to launch support…
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As the cost of living squeeze continues to be a growing concern, research from Canada Life has revealed the impact this will have on family members’ ability to financially support their relatives, both now and in the future. Among those who already financially support their relatives, or could do so, nearly half (48%) say the next…
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Soaring energy costs and rising food and fuel prices are set to put an extra burden on families’ budgets over the school holidays, which begin this week with more parents being forced to turn to borrowing to make ends meet over the summer according to new research by Ste[Change. The research shows that parents are…
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Latest quarterly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies numbers decreased by 6.4% to 9,824 in June 2022 compared to 10,497 in May, and were 0.3% lower than June 2021’s figure of 9,852. For individuals, 471 bankruptcies were registered, which was 37% lower than in June 2021 and 64%…
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