Credit, Collections & Insolvency News
The Bank of England has released it’s latest Money & Credit statistics for January 2017. In response to the statistics, Peter Tutton, Head of Policy at StepChange Debt Charity, said: “While the consumer credit growth rate has slowed, the level of outstanding unsecured debt continues to increase by more than 10% year on year and another £1…
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New research from Which? has found that nearly five million working people in the UK are worried about their financial situation. Overall, 28% of all UK households said they were experiencing some form of financial distress, be it relying more on overdrafts and loans or struggling to pay bills. When Which? looked at working households that…
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British adults say that their personal or household finances are the most likely factor, from a list of common causes of stress and anxiety, to have a negative impact on their mental health, according to a new survey of over 2,000 people by insolvency and restructuring trade body R3 and ComRes. A quarter (24%) of British…
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Equifax has been granted full Financial Conduct Authority (FCA) authorisation. The FCA approval comes at a pivotal time for credit reference agencies (CRAs), with technological advances and shifts in customer behaviour fuelling important developments in data sharing, evidenced by industry initiatives such as Commercial Credit Data Sharing (CCDS) and the Open Banking Standard. Patricio Remon, President…
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Today sees the launch of the new Standard Financial Statement (SFS), an initiative designed to bring greater consistency to the way organisations assess people’s finances when they are in debt. The SFS, the launch of which has been co-ordinated by the Money Advice Service, will be adopted by all major debt advice providers across commercial and…
Read moreMore than half a million (590,000) Brits holding at least one kind of interest-bearing debt are paying more than they need to by not moving to a better deal, according to new research by TSB. Almost 5 million British adults owe between £7,500 and £25,000, and TSB calculates that more than half a million of these…
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Masthaven have appointed Matt Andrews as the new Managing Director of Mortgages. Andrews is the Managing Director of Bluestone Mortgages. Andrews brings 10 years of mortgage leadership experience with him and prior to his role at Bluestone he was Managing Director of a Merrill Lynch mortgage division and a Director at Kensington Mortgages’ direct to consumer operation.…
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Experian has announced that it has achieved full Financial Conduct Authority (FCA) authorisation Charles Butterworth, Managing Director at Experian said ” The process has allowed Experian to stress-test our risk management structures and the plans we have in place to ensure fair outcomes for our customers. We have always looked to implement effective resolutions for people, to…
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Ofcom has announced that more than two million people who buy only a landline telephone service from BT will see their monthly bills cut by at least £5 per month. Ofcom has reviewed how the market is working for customers who buy only a landline service from a provider – either because they do not want…
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