Credit, Collections & Insolvency News
The Money and Pensions Service (MaPs) has provided an update on debt advice commissioning following the completion of a key stage of the procurement process As well as providing money and pensions guidance through the MoneyHelper and Pension Wise brands, the Money and Pensions Service (MaPS), the largest single funder of debt advice provision in…
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Despite the turbulence of the last year, UK businesses are continuing to make positive strides towards technological innovation. This has been highlighted in fresh analysis of four years of data from Visma | Onguard’s Fintech Barometer, which shows that number of organisations planning to undertake a digital transformation strategy within the next 6 to 11…
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The Financial Conduct Authority (FCA) has called for legislative change to address concerns beyond its remit in its latest Perimeter Report. .The report recommends that duties on internet companies in the Online Safety Bill should extend to paid-for advertising, as well as user-generated content. The FCA also believes that the Bill should designate content relating…
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Credit app, TotallyMoney has announced API integration partnership with loan and credit card platform, Lendable. TotallyMoney’s API integration for Lendable’s ‘Level’ credit card will provide greater transparency as customers will be shown the APR they’ll get before application. In addition to this they can find out if they’re pre-approved for the offer, meaning a more…
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Provident Financial Group has said customer demand had picked up to pre-pandemic levels in the three months to the end of September 2021. The business, which has published a trading update, attributes the improvement of customer demand to more favourable macroeconomic conditions. Provident says that in its credit card and personal loans business, expenditure levels…
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Ofgem has appointed Shell Energy Retail to take on supplying Goto Energy’s approximately 22,000 domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers. Funds that current and former domestic customers of Goto Energy have paid into their accounts will be protected, where they are in credit.…
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New research by the Joseph Rowntree Foundation (JRF) has found that a third of low-income households are unable to pay their bills, The research found that 3.8 million low-income households are behind on rent, bills or debt payments, which is up threefold since the pandemic hit, revealing the growing cost of the living crisis facing…
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New research from the Consumer Council for Water (CCW) has found that two-thirds of complaints to water companies involve concerns over bills. CCW says that households have a right to expect clear and accurate water bills and be treated with empathy by water companies if they slip into debt. Bill concerns dominated two-thirds of the…
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Credit Connect’s hosted its second Online Lending Technology Think Tank last week which saw lending strategies and the future of the sector discussed by thirteen leading professionals from a variety of lending sectors. The themes of business transformation, credit risk, affordability and open banking were discussed by panellists and Chair Chris Warburton from ROStrategy The…
Read moreThe number of County Court Judgments (CCJs) issued against consumers in England and Wales saw another very large rise in Q3 2021 compared to the same period last year, according to the latest figures by Registry Trust. The number registered in Q3 2021 was 241,952, up 116 percent from 111,931 in Q3 2020 – this…
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County Court Judgments (CCJs) against businesses in England and Wales rose by 70 percent in Q3 2021, compared to the same quarter in 2020, according to figures released by Registry Trust. The number of business CCJs increased from 15,970 in Q3 2020 to 27,073 in Q3 2021. The total value of CCJ debt owed by…
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The number of debt judgments registered against Northern Ireland businesses rose, from 73 to 117 according to new Registry Trust data, Debt judgments increased by 60 percent over the period. The total value of judgments against Northern Ireland businesses rose by much less, 21 percent, from £457,243 to £554,524. As a result, the average value…
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The number of debt judgments registered against Northern Ireland consumers in Q3 2021 was 755, a rise of 24 percent from the 608 in the same period last year, according to figures released today (14.10.2021) by Registry Trust. But, it is worth noting that numbers are still well below the highs seen before Covid struck.…
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