Credit, Collections & Insolvency News
The Law Commission has today published it’s report on Bill of Sale announcing a series of recommendations to protect borrowers from ‘unfair’ logbook loans. Logbook loans are a way for borrowers to use their vehicle as security for a loan. Borrowers who fall behind with payments can find their vehicle swiftly repossessed, as well as high…
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Research from Funding Options has announced that the number of businesses whose assets were seized by the HMRC in order to settle outstanding debts grew sharply in the last year is up 145%, from 649 in 2014/15 to 1,592 in 2015/16. Funding Options adds that HMRC seized assets to recover £42.6m of outstanding debt in the last…
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Creditsafe has announced the opening of its first office in Asia. Headquartered in Tokyo with operations based in Fukuoka, it is the firm’s 18th global office. In addition to setting up its operation in Japan, Creditsafe is also planning to extend its global database to offer UK businesses information on more than 12 million publicly traded…
Read moreB2Holding ASA, via its fully owned subsidiary Ultimo Netherlands BV, has entered into an agreement to acquire a residential mortgage Non-Performing Loan (NPL) portfolio from Romanian Bank Banca Comerciala (BCR) in a 50/50 partnership with EOS Investment RO GmbH (“EOS”). The portfolio consists of some 6,800 loans secured by real estate collaterals. The portfolio has…
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