Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that new business in the point-of-sale (POS) consumer used car finance market grew 12% by value and 9% by volume in October, compared with the same month last year. The POS consumer new car finance market also reported new business up 8% by value…
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New figures released by the Finance & Leasing Association (FLA) show growth of 6% in consumer finance new business in October, compared with the same month last year. Credit card and personal loan new business together grew by 7% compared with October 2015, while retail store and online credit new business fell by 4%. Second charge…
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Over a third (35%) of entrepreneurial Britain said they would resort to their own personal savings when starting or growing a business, new research commissioned by crowdfunding specialist Crowdfinders has found. The second most popular option in the nationally representative survey of over 2,000 UK adults was banks and institutions (28%). Whereas, 15% – the…
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Four-in-ten (38%) small and medium-sized businesses (SMEs) have suffered cashflow problems over the past two years, according to new research1 by Amicus Commercial Finance. The figure rises to two-thirds (65%) among medium-sized firms with between 50 and 250 staff. According to the study conducted among 500 small businesses owners, over the past two years one-in-seven (15%)…
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The Financial Conduct Authority (FCA) has given an update on the post-implementation review of the loan-based and investment-based crowdfunding market. Based on a review of the feedback received, issues seen during the supervision of crowdfunding platforms currently trading and consideration of applications from firms seeking full authorisation, the FCA believes it is appropriate to modify…
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The Credit Services Association (CSA) and the Civil Court Users Association (CCUA) issued a joint statement following the Civil Procedure Rule Committee (CPRC) meeting attended by Leigh Berkley and Rob Thompson as industry representatives, and by the Master of the Rolls. The outcome was as follows: • The Pre-Action Protocol (PAP) is likely to be…
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The Financial Conduct Authority (FCA) have sent a letter to CEOs of all debt management firms expressing their concerns with the way firms are carrying out annual reviews and to remind them of the requirements of administering debt management plans (DMPs). All debt management plans must be reviewed at least once a year. If a…
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