Credit, Collections & Insolvency News
The number and total value of judgments registered against Irish consumers saw very large percentage rises in the second quarter of 2021 (Q2 2021) compared to the same quarter last year, figures released by registrar Irish Judgments show. The number of judgments registered against Irish consumers in Q2 2021 was 307, an increase of 358…
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The number and total value of judgments registered against Irish businesses rose significantly according to new figures released by registrar Irish Judgments. The number of judgments registered nearly doubled from 63 in Q2 2020 to 124 in Q2 2021. The total value owed in Q2 2021 was €1.4 million, more than three times the €440,462…
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A new report from Juniper Research has found that global contactless card transaction values will reach $2.5 trillion in 2021, from $1.7 trillion in 2020, with cards retaining the majority share of overall contactless transaction values at 79% in 2021. The pandemic has significantly accelerated an existing contactless card usage trend, and these value increases…
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NatWest’s Ulster Bank is preparing to sell €7.6 billion of loans and 25 branches to Irish bank Permanent TSB. Between 400 and 500 Ulster Bank employees will transfer over under the deal while NatWest will secure a 20% stake in PTSB as part payment. “In line with our strategy of a phased withdrawal from the…
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Ireland’s Central Bank is proposing to ban the practice of price walking following its Review of Differential Pricing in the Private Car and Home Insurance Markets. The Review examined how differential pricing is used in the private car and home insurance sectors and established its impact on consumers. Differential pricing is where customers with a…
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A total of 169 corporate insolvencies were recorded in Ireland in the first half of 2021, according to analysis of the latest insolvency statistics published by Deloitte. The figures represent a decrease of 38% from H1 2020 when 273 insolvencies were recorded. On a quarterly basis, a total of 58 corporate insolvency incidents were recorded…
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NatWest has announced that it is selling most of its Irish commercial lending business to Allied Irish Banks (AIB), which will take over about €4.2 billion in loans, €2.8 billion in undrawn facilities and about 280 transferred Ulster Bank employees. The exact size of the portfolio and amount payable will depend on movements in the…
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Intrum has published its latest European Payment Report with the analysis showing that half of the companies surveyed stating that they think they are lucky to have survived 2020. At the same time, reality did not turn out as gloomy as expected, partially due to government support, but also with new, digital business models gaining…
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New research by Uswitch.com has revealed impersonation scams as collectively having had the highest financial impact from fraud in the UK. with £96.6 million lost to impersonation fraud of police or bank staff in 2020, alongside £53.7 million lost to other types of impersonation scams. Unlike impersonation scams, where collectively more than half (56%) of…
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The number and of judgments registered against Irish businesses saw huge falls in the first quarter of 2021(Q1 2020) compared to the same quarter last year according to latest Registry Trust figures. Judgments against Irish businesses also saw sharp falls from 252 to 89, down 65 percent. However, the total value registered against businesses rose…
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The number of judgments registered against Irish consumers saw huge falls in the first Quarter of 2021 compared to the same quarter last year according to latest Registry Trust figures. The number of judgments against consumers fell by 73 percent, from 565 to just 155. The total value fell by 71 percent, from nearly €26…
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Analysis by the Resolution Foundation suggests that British households have been hit harder by the pandemic than those in France and Germany. As part of a new project, supported by JP Morgan Chase, the Resolution Foundation has examined and compared the strengths and weaknesses of family finances across the UK, France and Germany on the…
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Businesses must take measures to protect themselves from the impact of unpaid bills as global insolvency rates are forecast to surge according to trade credit insurer Atradius. The company’s Insolvency Forecast reveals the likely extent of business failures in the wake of the coronavirus pandemic. Entitled ‘2021: A turn of the tide in insolvencies’, the…
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