Credit, Collections & Insolvency News
Rising living costs, reduced incomes, and cuts to support among the easons more people than last year will turn to borrowing to pay for the festive season according to research by StepChange debt charity. The report says that this Christmas will be a time of financial distress for many households, with more people expecting to…
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The Money Advice Trust, the charity that runs National Debtline, has welcomed today’s action from the Advertising Standards Authority (ASA), to uphold complaints against a company found to have used ‘misleading’ and ‘irresponsible’ debt advice adverts. Online adverts from Financial Support Systems, trading as National Debt Service, were found to have misled consumers by suggesting…
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Ofgem failed to act against unfit energy suppliers for nearly a decade, leaving the market vulnerable to this year’s spike in wholesale prices according to a major new report from Citizens Advice. The charity has found that mistakes and missed opportunities left the market in a precarious position when gas prices surged in 2021. Since…
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Law firm Wright Hassall has named announced the appointment of a new Managing Partner. Phil Wilding has been appointed to the role after Sarah Perry, who has been in the position for the past six years, announced her decision to step down from the firm. Wildling has been with the firm for ten years as…
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Average rent debts still owed by renters as a result of the pandemic have increased by 41 per cent since May according to the latest research by the National Residential Landlords Association (NRLA). A survey of over 2,000 private renters in England and Wales by research consultancy Dynata has found that average COVID related rent…
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Global information services company, Experian and TIPTrust, have agreed on a data-driven partnership. TIPTrust supplies data and technology to the free debt advice sector, by providing faster, more accurate client data to debt advisers, the partnership has enabled those seeking free debt advice to get the personalised support needed to start their journey towards regaining…
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New research commissioned by Dun & Bradstreet has found that over half (52%) of European businesses surveyed don’t think they will survive without relevant, up-to-date and compliant business data. The findings, of the ‘The Future of Data’ report, revealed that two-thirds of business leaders agree that data is the most useful tool for their organisation…
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Mortgage lenders have announced a voluntary moratorium on possessions from Monday 13th December until Tuesday 4th January 2022. The industry is committed to providing ongoing support to those in financial difficulty as a result of the pandemic, especially those who may be worried about making their mortgage payments over the Christmas period. Members of UK…
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Credit risk management software and analytics provider, GDS Link has announced that Brian Kinch has joined the team as the Managing Director of Fraud Solutions. As one of our resident experts on fraud, Kinch will focus on how GDS Link delivers powerful solutions to help our clients combat all types of fraud in the lending…
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New analysis by UK Finance has indicated that unsecured debt levels have increased in line with spending, but customers continue to pay off their card bills on time each month. The analysis also indicated that mortgage arrears ticked down overall but heavier arrears continued to rise. Possessions increased slowly but a substantial backlog of cases…
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More than eight in 10 (86%) consumers are concerned about the rising cost of living and have taken steps to reduce their household spending, according to research by Scottish Friendly. A survey of 2,000 UK adults found that more than one in three (36%) are anxious that inflation will mean they don’t have enough money…
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A study by Canada Life has found that 6% of UK workers, equivalent to over a million people, believe they will never retire. The research also found 44% of workers, equivalent to 17.1 million people, think that they will work beyond state pension age. Of those expecting to work beyond state pension age, 43% believed…
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New research has found that just over half (51%) of consumers are not aware of their credit score. The research by NerdWallet has found that18% want to improve their credit score but don’t know how to, whilst 17% of UK adults feel anxious about the state of their credit score. 12% of respondents believe have…
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