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£779m owed in CCJs

Money currently owed to creditors in County Court Judgments across the UK stands at £779m for the third quarter of 2008 – with more people less willing to meet their financial responsibilities.

According to Callcredit, this is an increase of £45.6m in just one quarter – and an increase of more than £100m on 2007 figures – but individuals are less willing or able to settle these mounting debts.

The number of CCJs active in Q3 2008 stands at 213,061 – up 19 per cent in just three months. head Owen Roberts says: “As the economic climate gets stormier, more and more people are struggling to make their debt repayments. This is shown by the rising number of County Court Judgments issued and the fall in the number of people repaying in full.

“A number of factors may be contributing to this situation: with tighter lending criteria some may be unable to get the credit they need to repay their debts or people may be reluctant to pay them off if they believe they will not be lent to again.”


Extension after Gabriel glitches

Thousands of adviser firms have been given a seven-day extension to submit RMAR reports after glitches in the FSA’s Gabriel filing system.

Schroders to merge UK fund duo

Schroders is to merge Richard Buxton’s UK large-cap fund into its UK alpha plus vehicle by the end of the year.

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David Cameron appoints former adviser to Tony Blair as new pensions minister

Following a cabinet reshuffle in light of last week’s general election, David Cameron has announced that Ros Altmann will be replacing Steve Webb as pensions minister. As the industry works with one of the largest reforms to the sector in almost a century, the former adviser to Tony Blair has been tasked with ensuring that the pensions revolution does not stray off track.


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