Credit, Collections & Insolvency News
Nearly 3.8 million consumers are excluded from the government’s income replacement schemes according to new analysis by Standard Life Foundation. The figures indicate that 7 per cent of consumers have lost earnings as a direct result of the pandemic and have not been either furloughed or able to get help from the Self-Employment Income Support…
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The Advertising Standards Authority (ASA) has published two rulings that have banned misleading adverts by two commercial debt advice firms. The rulings involve commercial debt advice companies, National Direct Service and Fidelitas Group who the ASA says made various misleading claims, in paid-for search ads and on their websites, about their services. An investigation was…
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The number of County Court Judgments (CCJs) issued against consumers in the fourth quarter of 2020 fell 28 percent, from 268,858 to 194,102, compared to the same quarter in 2019, according to figures released by Registry Trust. The total value of CCJs registered fell by 25 percent to £342 million in Q4 2020, down from…
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The number of decrees and total amount of debt registered against Scottish consumers fell sharply in the fourth quarter of 2020 compared to the same period last year, according to figures released by Registry Trust. The number of decrees fell by 27 percent from 4,984 to 3,654. The total value fell from £12.9 million to…
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The number of debt judgments registered against Northern Ireland consumers in the fourth quarter of 2020 was just 699, a huge fall of nearly 60 percent compared to the 1,732 registered in the same quarter last year, according to figures released by Registry Trust. The total value of judgment debt owed in Q4 2020 fell…
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UK Finance has warned that home repossessions may surge tenfold in 2022 as coronavirus support measures come to an end, saying that while 2,900 properties were repossessed by lenders in 2020, this could rise to 22,300 in 2022. Around 81,300 households were in home loan arrears last year, but figures suggest this could climb to…
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BT Group is facing a class-action lawsuit over claims it failed to compensate elderly customers who were overcharged for landlines for eight years. In 2017, telecoms watchdog Ofcom found that BT had been overcharging 2.3 million landline customers since 2009. Law firm Mishcon de Reya has launched an opt-out collective action, Justin Le Patourel v…
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The Government must immediately stop all bailiff doorstep visits to prevent serious risks to public health, a coalition of charities has warned. Taking Control, a group campaigning for regulation of the bailiff industry, is urging the government to extend the suspension of bailiff enforcement of rental evictions (announced on Friday 8th January) to include a…
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The Financial Conduct Authority (FCA) has proposed an extension to a ban on repossessions until April. The updated guidance on mortgages and consumer credit repossessions. follows a November announcement on further support for mortgage and consumer credit borrowers experiencing payment difficulties as a result of the pandemic. This included guidance for firms on the treatment of…
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The Government has launched a new consultation which is launched aimed at extending debt solutions and helping vulnerable people in financial distress get a fresh start. The proposals have been outlined by the Government to increase the financial eligibility criteria for debt relief orders (DROs), helping more people deal with financial difficulties to get a…
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The Government has extended the eviction ban, which was due to end on Monday 11th January (today), The Government says that renters will continue to be supported during the new national restrictions, with an extension to the ban on bailiff evictions for all but the most egregious cases for at least 6 weeks –until at least…
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The UK’s two leading enforcement association trade bodies the Civil Enforcement Association (CIVEA) and the High Court Enforcement Officers Association (HCOEA) and Just have welcomed the High Court judgment on non-entry Controlled Goods Agreements. CIVEA, the HCEOA and Just have issued this joint statement which also invites the Ministry of Justice (MoJ) to review the…
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Ascent Performance Group, the financial services outsourcing business and part of the Irwin Mitchell Group, has announced that it has acquired Excel Collection and Enquiry Services. Ascent says that the deal will strengthen its market-leading position in the provision of field and affordability services to major financial institutions such as banks and building societies. The…
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