Credit, Collections & Insolvency News
Credit Connect Media announced that it has launched a new event called the Lending Technology Think Tank which will take place on Thursday 22nd April. The event will focus on technological and innovational developments and strategies within lending. The inaugural Think Tank is a multi-session event that includes a diverse range of speakers and is…
Read moreLatest statistics from the Insolvency Service have shown that personal insolvencies in England & Wales decreased by 13.7% to 8,305 in January 2020 compared to December’s figure of 9,623, and were 20.8% lower than January 2020’s figure of 10,482. Overall, numbers of individual insolvencies have remained low since the start of the first UK lockdown…
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Almost two million workers were unemployed or fully furloughed in January and had been for at least six months highlighting the scale of lasting damage to the UK’s labour force that will need to be addressed in the Budget, according to major new research published by the Resolution Foundation. The report titled Long Covid in…
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New research by the Fabian Society has found that over 700,000 people in working or disabled households are to be pulled into poverty by universal credit cuts. The government has indicated that they will decide in early March whether to keep or scrap the temporary 12-month Covid payment giving claimants just a month to plan…
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The Government has announced that renters will continue to be supported during the ongoing national lockdown restrictions, with an extension to the ban on bailiff evictions extended until 31st March. The ban on bailiff evictions was introduced at the start of the pandemic means that the ban has been extended for another six weeks with…
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Ofcom has fined O2 £10.5 million, after customers leaving the mobile provider were overcharged, due to billing errors by the company. Ofcom’s rules require telecoms companies to provide customers with accurate bills and charges. In 2019, Ofcom opened an investigation into potential issues with the way O2 was billing customers who were leaving the provider. When a…
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A new report from Christians Against Poverty (CAP) has shown that over 50% of their clients forced into bankruptcy, should be allowed to use a much cheaper route out of debt CAP is calling for urgent changes to be made to Debt Relief Orders (DROs) so thousands of people can access a simpler way out…
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MPs have called on the Chancellor to maintain. for another year ‘at the very least’ the £20 per week increase in Universal Credit (UC) and Working Tax Credit introduced to support families during the coronavirus pandemic. The report from the Work and Pensions Committee notes that since March the number of people claiming UC has doubled to…
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New Insolvency Service guidance has been published which makes Insolvency Practitioners responsible for the advertising by the firms and lead generators who introduce customers to them. The guidance reflects recent rulings from the Advertising Standards Authority on misleading advertising in the sector as well as concerns raised in the Woolard report for the Financial Conduct…
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The number of County Court Judgments (CCJs) issued against consumers in England and Wales in 2020 fell by 45 percent compared to 2019, from 1,146,475 to 626,775, according to figures released by Registry Trust. The total value of CCJs registered in 2020 fell by 34 percent to £1.1 billion, down from £1.7 billion in 2019.…
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The number of decrees and total amount of debt registered against Scottish consumers fell sharply in 2020 compared to 2019, according to figures released by Registry Trust. The number of decrees fell by 31 percent from 19,153 to 13,308. The total value fell from £49.6 million to £37.2 million, a fall of 25 percent compared…
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The number of debt judgments registered against Northern Ireland consumers in 2020 was 3,207, a fall of 52 percent compared to the 6,649 registered in 2019, according to figures released by Registry Trust. The total value of consumer judgment debt owed in 2020 also fell by just over half (54%) compared to last year, from…
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The number and total value of judgments registered against Irish consumers saw a large fall in 2020 compared to 2019, figures released by registrar Irish Judgments show. The number of judgments against consumers fell by 62 percent, from 2,456 to just 930. The total value fell by 79 percent, from €192 million in 2019 to…
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