Second Charge mortgage arrears fall to record low

8th February 2018 Consumer Collections |

New figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in 2017 was 105, 27% lower than in 2016. In the final quarter of 2017, the number of repossessions was 27, down by almost 31% compared with the same period in 2016. The rate of second…

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Millions of pounds in Business rates fraud estimated

8th February 2018 Local Authority Collections |

It is estimated that there could be over £25 million worth of fraud being perpetuated by businesses falsely claiming Small Business Rates Relief across England, according to data analytics specialist Destin Solutions. Small Business Rates Relief (SBRR) is provided to a number of businesses across England on the basis that they either only use one property…

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Irish debt judgments fall to record low

8th February 2018 Consumer Collections |

The number of debt judgments recorded in the Four Courts of Ireland fell to a historic low during 2017, according to figures released today by Registry Trust. There were 2,157 judgments registered against consumers in 2017, two percent fewer than the previous year and a record low. The mean average consumer judgment’s value fell 11…

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Toyota Financial Services launches credit assessment partnership with Aire

8th February 2018 Consumer Collections |

Aire, which provides an alternative way for lenders to understand and score credit applicants, today announces that it is launching an evaluation with Toyota Financial Services (TFS) for its Artificial Intelligence (AI) platform. The collaboration is designed to prove the effectiveness of Aire’s technology to assess the financial situation of TFS customers within ‘customer delinquency’.…

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MarketInvoice and Euler Hermes announce partnership

8th February 2018 Commercial Credit Management |

Business finance company MarketInvoice has announced a partnership with credit trade specialist Euler Hermes. The agreement will see Euler Hermes provide credit insurance policies to customers of MarketInvoice in safeguarding their businesses. With Euler Hermes credit insurance, MarketInvoice customers who use invoice finance solutions will have the assurance that they are protected in the event…

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Clarke Willmott make debt recovery team promotions

8th February 2018 Appointments |

Clarke Willmott has announced a series of promotions within their debt recovery team. Phil Roberts has been promoted from Senior Associate to Partner in recognition of his contribution to the firm and the team. Phil, along with Partner Kat Quinton, will be responsible for jointly leading the team. Senior Associate Stuart Hoysted has also been…

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VAT bill increase hitting small businesses the hardest

8th February 2018 Commercial Credit Management |

The Government’s focus on increasing tax through VAT is creating cash flow problems for businessesaccording to new research from Funding Options. Businesses are normally required to pay the VAT they owe once they invoice customers, rather than after they receive payment for their services. Corporation Tax, on the other hand, is only charged once a…

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Millions struggling with mountain of credit card debt

8th February 2018 Consumer Collections |

British consumers are increasingly struggling to cope under an ever-growing mountain of credit card debt, according to new research by the New Economics Foundation (NEF) think-tank. Using data from the Financial Conduct Authority, R3 and its own modelling, NEF finds that credit card debt is increasingly becoming as unmanageable as payday lending debt was for…

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