Industry News

OFT issues new practices for debt collection

The Office of Fair Trading (OFT), the trading watchdog, has set out a range of measures that aim to stamp out unfair debt collection practices and give new guidance to debt collector, debt recovery agencies…

Debt Buyers and Sellers Group implement new audit on debt recovery firms

The Debt Buyers and Sellers Group (DBSG), which is part of the Credit Services Association (CSA) has implemented an new professional compliance audit to improve the quality and reputation of firms operating in the debt…

Liverpool bar entrepreneur made bankrupt with debts of £2.6m

In late 2010 the person largely cited as pioneering Liverpool’s thriving bar scene has been declared bankrupt with debts of £2.6m. Rob Gutmann has seen his empire of stylish Liverpool city centre bars and restaurants…

CSA says Debt Collection and Debt Recovery Industry needs new rule book

The Debt Collection and Debt Recovery Trade body, the Credit Services Association (CSA) has called for the creation of a new ‘rule book’ in order to help the proposed Financial Conduct Authority (FCA) regulate debt…

OFT v misleading debt management firms

The OFT has found that four businesses and their associates who targeted consumers with misleading unsolicited mailings may have mis-sold Individual Voluntary Arrangements (IVA) to consumers.
As a result the OFT has revoked the consumer credit…

Loss of Income is biggest cause of debt problems

Consumer debt in the UK is being accelerated by the changing and challenging job market according to the latest analysis from EuroDebt Financial Services.
According to EuroDebt, loss of income is the biggest single factor for…

Rise in local council use of debt recovery agencies

According to recent figures obtained via freedom of information requests by the civil liberties campaign group Big Brother Watch claims that 318 local authorities in England, Scotland and Wales engaged third–party debt recovery agencies with…

Bad Debt risk as retail administrations hit two-year high

The number of retail firms in the North West which fell into administration during the first quarter of 2011 has increased by 30% to 60, compared with 46 in the same period last year (2010)….

HMRC tax evasion and tax debt task force

As HM Revenue & Customs (HMRC) announces that it has launched task forces across the UK to tackle tax evaders, RSM Tenon, (a top 10 UK accounting firm) says this is yet another example in…

Debt Recovery and Debt Collection Mis-trace issues

Mis-trace is one of the biggest issues for the Debtor Tracing, debt collections industry and for the debt buying industry, and recently the improvement in the accuracy of debt data has been championed by The…

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