Credit, Collections & Insolvency News
Since industrialisation, there has been a ‘fear of automation’ from people who ‘manually’ do the jobs that new technologies promise to make more efficient. But delivering money advice or debt collection services digitally is not about ‘replacing’ people, it is about enhancing the role of the people dealing directly with customers. The fact of the…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market fell by 11% in September, compared with the same month in 2016, while the growth in the value of new business was flat over the same period. In Q3…
Read more
New figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q3 2017 was 23, 25.8% lower than in the same quarter in 2016. The annual rate of second charge mortgage repossessions as a percentage of average outstanding agreements at the end of Q3 2017 was…
Read more
Italian debt purchaser MBCredit Solutions has completed the acquisition of the “Sherazade” portfolio from Intesa Sanpaolo, comprising a stock of unsecured non-performing exposures (NPEs) with a nominal value of approx €600million. The agreement consolidates the Mediobanca Group company’s leadership position in the retail unsecured NPE segment, with MBCredit Solutions now a leading player in the…
Read more
Commenting on the September 2017 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “The fall in new business volumes in September comes amid subdued consumer confidence which has affected the housing market as a whole. It follows six…
Read more
Ofgem has announced a £150 cap on charges for installing pre-payment meters under warrant for customers in debt, and banned charges for the most vulnerable. Suppliers can apply to the court and install a prepayment meter under warrant, as a last resort when customers fall into debt. Under current rules, suppliers can charge warrant costs…
Read more