Category: Collections and Arrears

Under Pressure. Cost of living crisis piles on the stress

Over 9 million people in the UK are already in problem debt, with the average person owing over £31k. With the cost of living crisis, we anticipate a sharp rise of customers in financial crisis. Learn how updating you collection's and arrears strategies can better support these customers.

The changing world of collections and recoveries

The Covid-19 pandemic has undoubtedly had a significant impact on customer arrears. We’re seeing many changes in the demographics of customers in arrears and the typical arrears lifecycle, including the increasing complexity, longer recovery periods and more vulnerability.

A look back on a year of financial support measures

The pandemic has had a great impact on people’s finances. While some people could save money or reduce their debt, many individuals have faced a hit to their income due to the Covid-19 crisis. In this blog post, we highlight the key figures on the financial support given to customers across the country over the last 12 months.

3 ways for Local Authorities to ease their Covid-19 pressures

With tough new lockdown measures across the UK to counter a surge in Covid-19 cases, businesses and citizens are once again struggling.

Humanising Debt Collection: How to Support Customers in Difficult Circumstances

The debt collection process can be difficult, stressful and time-consuming for both the debtor and the lender. Due to the ongoing coronavirus crisis, there are more loss-making accounts than ever, and the pressure is on lenders to provide debt collection methods and techniques that are effective and compassionate.

UK Consumer Debt: At a glance

Lenders are facing a tsunami of challenges off the back of the Covid-19 pandemic. The impact on consumer debt in the UK is huge and long-lasting. As we head towards the end of the furlough scheme, and with payment holidays finishing soon, lenders will need to be prepared for what comes next.

Looking over the horizon of payment holidays and forbearance

We take a look at how businesses can adjust to the short and mid-term demand increase for servicing collections and arrears.

Arrears management for Local Authorities in a post-Covid-19 world

It's critical that local authorities and central government are well-prepared for an influx of financial support requirements as the lockdown is eased. Local authorities should be able to provide such support with empathy and fair treatment, despite tightened purse strings.