personal insolvency

Wbg acquires Scottish personal insolvency book from Azets

31st October 2024 Debt Sale and Purchase | #debt purchase #personal insolvency

Accountancy firm, Wbg has announced that it has acquired the Scottish personal insolvency ‘book’ of accountants and business advisors Azets for an undisclosed sum. Donald McKinnon, Wbg COO, said the deal showcased the firm’s long-standing involvement in the personal insolvency market and commitment to it as a vital part of its rapidly-expanding business. “We’re delighted…

Insolvency Service to investigate potential mis-selling of IVAs

17th January 2024 Consumer Collections | #IVA #personal insolvency

The Insolvency Service has announced it is launching an investigation to understand the experience of some consumers when taking out an Individual Voluntary Arrangement (IVA). The Insolvency Service says that IVAs support a valid public policy objective by providing debt relief for individuals in financial distress. However, specific issues and concerns have been raised which…

CCJ debt registered against consumers and businesses in England & Wales rises

2nd August 2022 Business | #business insolvency #personal insolvency

Latest figures from the Registry Trust has shown a significant increase in the number and value of monetary judgments (including CCJs) registered against consumers and business in England & Wales compared to the same period last year. The total number of monetary judgments registered in England & Wales rose from 207,976 in Q2 2021 to…

Creditfix announces changes to third-party debt packagers firm relations

23rd February 2022 Consumer Collections | #personal insolvency

Personal insolvency provider Creditfix has announced changes to how it works with third-party debt packager firms. The move, which will see the company introduce a flat rate to external providers, comes in a proactive response to industry calls for tighter regulation around external sources and to further ensure that customers seeking debt advice get the…

Personal Insolvencies show minor increase

17th February 2022 Consumer Collections | #personal insolvency

Latest figures from the Insolvency Service have indicated that personal insolvencies in England & Wales increased by 0.3% to 8,477 in January 2022 compared to 8,451 in December 2021, and were 1.8% higher than January 2021’s figure of 8,331. There were 1,873 DROs and 575 bankruptcies. The number of DROs in January 2022 was 59%…

Personal Insolvencies fall by 10.1%

19th January 2022 Arrears and Recoveries | #personal insolvency

Latest figures from the Insolvency Service have indicated that personal insolvencies in England & Wales fell by 10.1% to 8,434 in December 2021 compared to 9,385 in November 2021, and were 12.4% lower than December 2020’s figure of 9,625. There were, on average, 6,648 IVAs registered per month in the three-month period ending December 2021,…

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