Credit, Collections & Insolvency News
UK Finance has released its latest UK Card Expenditure Statistics for May 2017. The statistics include: A third of card payments are now contactless, up to 33 per cent from 18 per cent in May 2016; A total of £4.5 billion was spent via contactless in May 2017, compared to £3.9 billion in April 2017; The…
Read more
Ofwat has announced that Chief Executive, Cathryn Ross, will be leaving the regulator at the end of the year to take up a senior position in the private sector unconnected with the water industry. Ross, who was appointed as Ofwat Chief Executive in October 2013, has successfully led the regulator through a significant period of…
Read more
Mortgage sales for the UK decreased by £200 million in June, down 1.2% on the previous month, according to Equifax Touchstone analysis of the intermediary marketplace. Buy-to-let figures bucked the general trend, rising by 3.2% (£80 million) to £2.6 billion, while residential sales contracted by 2.0% (£280 million) to £13.9 billion. Overall, mortgage sales for…
Read more
It’s one of the deadly sins I know but last year’s win at the Leasing World Awards, in the Independent Lessor category, filled me with pride. While most of our senior management team was there to enjoy the occasion, I was particularly keen to get back and share the great news with the troops. Every…
Read moreItalian banks could take 10 years to reduce their level of non-performing loans (NPLs) to the European average according to Morgan Stanley, adding that setting up a “bad bank” could help. A recession that ended in 2014 saddled Italian banks with 349 billion euros (305.94 billion pounds) in impaired debts, one-third of Europe’s total, while…
Read more
The Money Advice Trust, the charity that runs National Debtline and Business Debtline, has appointed two senior industry leaders to its Board of Trustees. Lawrence Slade has served as Chief Executive Officer at Energy UK, the trade association for the UK energy industry, since July 2015. He previously ran the Energy Retail Association and the…
Read moreDebt Management specialist MoneyPlus Group has bought Baines & Ernst after it went into administration. FRP Advisory was appointed administrators of Baines & Ernst. The business and assets of Baines & Ernst were then sold, resulting in the transfer of all 80 staff and all its debt solution plans and customer data. Baines & Ernst…
Read more