Credit, Collections & Insolvency News
2016, it feels, has been a year of extremes of accomplishment and uncertainty. In the UK we have seen everything from feats of skill, agility and strength at the Olympics, to political turmoil with a vote to leave the EU by the narrowest of margins. On a wider global scale, we have seen a fractious…
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Living beyond means, relationship breakdowns, and reduced levels of income were the leading causes of bankruptcy in 2015, according to new government statistics. R3 says the statistics also reveal significant differences between the reasons why men and women enter bankruptcy. One-third (34%) of men’s bankruptcies in 2015 were caused by the bankrupt’s own company running…
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Target Group has announced the signing of a new two year contract with the DVLA using their payments collection system. In 2014, Target and the DVLA introduced a newly automated system, which provided consumers with an alternative method of paying their vehicle tax. The payments solution was delivered in 18 weeks and supported the DVLA…
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Peer-to-peer lending platform RateSetter has completed a sale of £2.1million worth of non-performing debt to 1st Credit. The sale is believed to be the first of its kind for a UK peer-to-peer lender. The debt sold comprises non-performing loans worth £2.1million written between 2010 and 2015, where RateSetter believes that it stands a low chance…
Read moreCatalogue customers who ‘buy now and pay later’ are being hit with shock fees for failing to pay in full within the interest free period, Citizens Advice warns today. The charity has helped 24,000 people with nearly 50,000 catalogue or mail order debt problems in the last year – with 70% of the issues related…
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