Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) is proposing changes to its decision-making process which will enable it to make faster and more effective decisions which will help improve how it tackles firms and individuals who do not meet the required standards. The FCA is consulting on moving some decision-making from its Regulatory Decisions Committee (RDC) to…
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County Court Judgments (CCJs) registered against businesses England and Wales fell by 24 percent in the second half of 2021 (H1 2021), compared to the same period in 2020, according to figures released by Registry Trust. The number of CCJs against businesses fell from 46,117 in H1 2020 to 35,228 in H1 2021. The total…
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Latest figures from the Registry Trust has shown that the number of decrees against Scottish businesses rose by 36 per cent from 268 to 365 in the second quarter of 2021 (Q1 2021). The total value actually fell by nearly one-third from just under £2 million to £1.4 million. As a result, the average value…
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Barclays reported a large rise in first-half profit driven by a drop in credit impairment charges as the economy recovers. Pre-tax profit for the six months through June jumped to £4.98 billion, up from £1.27 billion year-on-year. Credit impairment releases fell to £742 million, down from £3.79 billion, more than offsetting a 3% drop in…
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Virgin Money has cut the amount of money put by for bad debts in the pandemic, releasing £19 million of cash set aside for loans that could turn sour in its third quarter. The lender added that the remaining £678 million of provisions could be cut further alongside full-year results if the rebound in the…
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The number of County Court Judgments (CCJs) issued against consumers in England and Wales saw a huge rise in Q2 2021 compared to the same period last year, according to figures released by Registry Trust. The number registered in Q2 2021 was 188,092, up 267 per cent from 51,245 in Q2 2020. The value of…
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The number of decrees and total amount of debt registered against Scottish consumers saw large rises in the second quarter of 2021 (Q1 2021) compared to the same period last year, according to figures released by Registry Trust. The number rose from 1,419 to 3,991 in Q2 2021, a rise of 181 percent from Q2…
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The number of debt judgments registered against Northern Ireland consumers in the first half of 2021 (H1 2021) was 1,678, a fall of nearly 12 per cent from the 1,900 in the same period last year, according to figures released by Registry Trust. But, the total value of judgment debt owed by consumers rose by…
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The number of debt judgments registered against Northern Ireland businesses fell by more, down 24 per cent from 353 in H1 2020 to 269 in H1 2021. The total value of business judgments fell by a similar degree, 21 per cent, from £1.2 million to £976,602. As a result, the average value of business judgments…
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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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The number of personal insolvencies (bankruptcies and protected trust deeds) in Scotland rose by 12.3% to 1,884 in April-June 2021compared with January-March 2021’s figures of 1,677, and was 9.6% lower than in April-June 2020 according to latest Accountant in Bankruptcy (AiB) figures. A total of 586 bankruptcies were awarded during this quarter – a 61.4%…
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Here is an overview of The Money Charity’s latest statistics for July 2021 Personal debt in the UK People in the UK owed £1,721.3 billion at the end of May 2021. The average total debt per household, including mortgages, was £61,933 and per adult was £32,544, around 108.7% of average earnings. Net mortgage lending rose by…
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