Credit, Collections & Insolvency News
New research from Echo Managed Services has found that one in four people want businesses to contact them via digital channels in order to settle their debts. 25% of the 1,500 consumers questioned said digital means, such as SMS or email (particularly when these are linked to an online payment portal) would likely lead to payment of a debt. 40%…
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New research from Equifax has found that 32% of people in the UK have had to borrow money from friends or family. The online survey, conducted by YouGov, found 31% of these loans were to pay for household essentials such as food, 23% to pay for car repairs and 18% to pay for utility bills…
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Callcredit Information Group has appointed Peter Simpson as Head of Partnerships and Steve Wishart as Head of Lending. Commenting on the appointments Eamonn Tierney, managing director, Credit Solutions, Callcredit Information Group said: “I am delighted to welcome Peter and Steve into their new roles which will play a part in the next chapter of our Credit…
Read moreCitizen Advice research has discovered that some payday lenders are still failing to carry out basic checks to make sure borrowers can afford to pay back their loans. Over a quarter of payday loan borrowers (27%) who responded to a survey by Citizens Advice said they were not, or could not remember being asked any questions…
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A report by TUC and Unison suggests that about 1.6 million UK households are living in extreme debt. The report says official figures underestimate the intense burden of repayment on many families and individuals. The Britain in the Red report says households are finding it harder than ever to cope as wages have fallen. Total unsecured…
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Nick Rossister has been appointed Deputy Chief Executive at the Registry Trust.
Read moreLondoners are more likely to be struggling with debt than the rest of the UK costing the city £1.4 billion a year according to a new report from StepChange Debt Charity. The report shows that the charity’s clients living in the capital owe more on credit cards and loans, have higher arrears on bills meaning that they…
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Here is an overview of The Money Charity’s latest statistics for August 2016: Personal debt in the UK People in the UK owed £1.484 trillion at the end of June 2016. This is up from £1.444 trillion at the end of June 2015 – an extra £777.90 per UK adult. Per adult in the UK…
Read moreThe study by Shelter and YouGov found that one in three families have little or no personal savings to fall back meaning that a staggering three million working families could be just one pay cheque away from losing their home. The research also revealed that a fifth of working parents face the prospect of being immediately unable to…
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Steve Humm has been appointed new Chief Operating Officer of Callcredit Information Group.
Read moreThe latest results Insolvency statistics from The Insolvency Service for Quarter 2 (April to June 2016) reveal that Personal Insolvency numbers have gone up. The main findings of the report were: Total individual insolvencies increased for the fourth consecutive quarter, driven primarily by an increase in individual voluntary arrangements Debt relief orders also increased, because of…
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A new national register – Landlord TAP – places all let properties in England and Wales in one place. Landlords will provide information about tenants responsible for paying water bills.
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The Bank of England Financial Policy Committee report published its Financial Stability report, which identified “the high level of UK household indebtedness.”
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