Credit, Collections & Insolvency News
Debt Purchaser, Motormile Finance (MMF) have been awarded a Silver rating for ‘outstanding’ customer service – from Investors in Customers (IIC). IIC, a customer experience consultancy, surveys customers, staff and senior management to assess how well a business understands its customer needs and how well it delivers services that meet those needs. Denise Crossley CEO…
Read moreThe Central Bank of Ireland has released Ireland’s Money and Banking Statistics for July 2017. Here is an overview of the main findings. NFC lending now stands at the lowest level since the series began. However, medium and long-term lending have both been positive on an annual basis for two consecutive months, which masks the substantial…
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Debt Purchaser, Arrow Global Group has agreed term with the potential acquisition of Mars Capital UK and Ireland, a leading UK and Irish mortgage servicing businesses, for an enterprise value of £15.5 million. The acquisition further strengthens Arrow Global’s asset management capabilities, while providing a strategic entry into Ireland, a new market for the Group…
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With stricter banking regulations since 2008, Brexit uncertainty and sparse data available on small-medium enterprises (SMEs, mainstream lending sources are not sufficiently servicing the credit appetite of UK businesses. The size of this ‘SME funding gap’ is estimated to increase to £22 billion by 2017. This is a major factor in the growth of the…
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…and what you can do about it Late payment remains a giant source of frustration for many businesses, with new figures from Bacs Payment Schemes suggesting £14.2 billion is currently owed to SMEs in outstanding invoices. While many are focused on the impact this has on cash flow and identifying ways to recover these unpaid…
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The Bank of England latest statistics showed a £200 million decrease in loans to smaller businesses during July. Mike Cherry, Federation of Small Businesses (FSB) National Chairman, said “Small businesses appetite for new finance is waning against a backdrop of unprecedented uncertainty, anaemic domestic growth and inflationary pressure weighing on consumer demand. Investment intentions are not where they should be…
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The growth in borrowing by consumers appears to be slowing amid a squeeze on households according to the Bank of England’s latest consumer statistics. The annual rate of growth for consumer borrowing through credit cards, overdrafts and personal loans decreased to 9.8% in July, the lowest rate of expansion since April 2016. The growth rate…
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