Credit, Collections & Insolvency News
The number and total value of judgments registered against Irish businesses saw large falls in 2020 compared to 2019, figures released by registrar Irish Judgments show. Judgments against Irish businesses fell less, by 33 percent, from 676 to 455. The total value registered against businesses fell by 51 percent, from €13.3 million to just €6.4…
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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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Credit management firm Intrum has achieved gold rating in an independent customer experience assessment for the seventh consecutive year by Investor in Customers (IIC). IIC has again given the business its highest gold standard for delivering ‘exceptional’ customer service, making Intrum the only business ever to achieve gold on first IIC assessment and maintain that…
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New data from insurance specialist Euler Hermes has predicted that 2021 is likely to bring a flood of corporate insolvencies throughout the world’s largest economies. The company points out that Q4 in Europe is likely to be the time when the surge in business insolvencies reaches its zenith. Whilst insolvencies in the US will rise…
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The number and total value of judgments registered against Irish consumers saw a huge fall in the fourth quarter of 2020 compared to the same quarter last year, figures released by registrar Irish Judgments show. The number of judgments against consumers fell by 72 percent, from 618 to just 172. The total value fell by…
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Judgments against Irish businesses fell from 234 to 62, a drop of nearly three quarters (74%), figures released by registrar Irish Judgments show. The total value registered against businesses fell by 62 percent, from €3.4 million to just €1.3 million. The average value of business judgments rose by 41 percent from €14,525 to €20,536. Mick…
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Sales of non-performing loans (NPLs) hit a four-year low last year with €67.7bn sold, according to the Debtwire European NPLs FY20 Report. The Government supported disposals accounted for 60% of the total, the report found. The Cobid-19 crisis delayed portfolio sales as Europe went into lockdown, while agreements fell apart as the economic outlook deteriorated.…
Read moreIrish personal finance provider Permanent TSB has signed up to use Experian’s banking categorisation technology to improve its customer lending journeys. The solution produces high levels of accuracy, so Permanent TSB can treat customers fairly and deliver improved outcomes. The categorisation engine is an Irish-specific version and is the first in the market within the…
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With the UK now officially separated from the European Union, new research from Nucleus Commercial Finance has found that the UK’s SMEs are worried about their future and the negative impact Brexit will bring to the economy. The research found that three in ten (30%) small to medium-sized businesses think Brexit will have a negative…
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As European economies struggle to cope with the effects of the second wave of the coronavirus, Intrum’s Financial Wellbeing Barometer highlights the disparities in financial wellbeing among consumers across the continent. While pre-existing household debt and financial instability have been aggravated by the pandemic in southern Europe, stimulus measures appear to have protected household incomes…
Read moreThe European Commission has today presented a strategy to prevent a future build-up of non-performing loans (NPLs) across the European Union, as a result of the pandemic crisis. The strategy aims to ensure that EU households and businesses continue to have access to the funding they need throughout the crisis. Banks have a crucial role…
Read moreNew data from Barclays released today reveals that there has been a 20 per cent surge in business scams in the past five months, with thousands of SMEs across the UK falling victim to highly sophisticated and targeted scam tactics. The bank is issuing a warning to businesses across the UK to remain vigilant as…
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Economic upheaval is putting a disproportionate strain on young adults and parents in the UK, according to the latest European Consumer Payment Report by Intrum The annual European-wide survey of more than 24,000 consumers found that 36% experienced an income drop as a result of the Covid-19 crisis. Though 10% said their income has since…
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