New research from GoCompare Money has revealed that Brits are hiding a collective £13bn worth of secret personal debt from their friends, families and even their partners. The study from the comparison site found that 40% of UK adults had some form of personal debt (excluding mortgages), owing £6,131, on average. However, despite nearly a third (29%)…

New figures from Highways England revealed that 200,610 drivers who did not pay the Dart Charge, for the Dartford Crossing between Kent and Essex, were visited by debt collectors. The automated toll was introduced in November 2014 in an effort to ease congestion and help traffic at one of the countries busiest roads. In 2016…

New figures released by the Finance & Leasing Association (FLA) show a growth in new business of second charge mortgages in November 2017. Commenting on the new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said: “The second charge mortgage…

New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market fell by 8% in November, compared with the same month in 2016, while the value of new business increased by 2% over the same period. The percentage of private…

New figures released by the Finance & Leasing Association (FLA) show consumer finance new business grew in November by 5%, compared with the same month in 2016. Credit card and personal loan new business together grew by 3% compared with November 2016, while retail store and online credit new business increased by 13%. Second charge…

Italy’s Intesa Sanpaolo is considering selling its debt collection business and a bad loan portfolio to Sweden’s Intrum Justitia the two companies have said in separate statements. The move would mark a change of strategy for the Italian lender which set up the bad loan unit, called Capital Light Bank, back in 2014 and has…

Rapid growth in Britain’s consumer credit has been driven by borrowing by people with good credit scores, not subprime lending, according to research the Financial Conduct Authority (FCA) and Bank of England (BOE). Unsecured consumer lending grew at near double-digit rates in 2016 and 2017, and concern that lenders had overestimated their borrowers’ creditworthiness led…

Romania’s Alpha has agreed to sell debt portfolio valued at €360m. The bank said that portfolio will be acquired by entities financed by a consortium of international investors including Deutsche Bank, funds advised by AnaCap Financial Partners and funds advised by APS Investments. The completion of the transaction is subject to the relevant regulatory approvals.…

Almost £5 million in council tax went uncollected across Wolverhampton last year while a further £1.5 million in business rates was also unpaid. Councillor Wendy Thompson, Conservative leader on the Labour-controlled Wolverhampton council, said: “I find this absolutely shocking. It is a huge amount of money – and just think of what could have been…

Millions of pounds are owed to Dundee City Council by tenants in rent arrears according to a new report by the Evening Telegraph. Figures provided to the Telegraph show that more than £2 million of debt has been accrued by council tenants in the city who have defaulted on their payments to the local authority.…

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