Credit, Collections & Insolvency News
Since the Apprenticeship Levy was introduced almost a year ago, employers are still confused about what it means for them. According to the CIPD, the professional body for HR and people development, 22% are still unaware whether they have to pay the levy or not. And for those businesses that are aware and paying, they…
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It’s no secret that digital technology continues to play an increasingly prominent role in modern society. For many, smart devices now take the place of credit cards and travel tickets, with some even ditching their regular weekly shop, replaced by a simple online transaction and delivery service, which can be completed in minutes and at…
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I am motivated by a pathological fear of waste. I cannot comprehend the logic of a sports car: what’s the point of transport that is limited to a speed limit, which then has to stop more often for fuel, which then makes the overall journey time longer. And don’t get me started on Bitcoin. Waste,…
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The plight of Open Banking is dependent on consumers offering information from their current account in exchange for improved products and better deals. So, what are the chances of success? Developments in the financial services sector over the last decade should provide a reliable marker. Let’s take the changing way people apply for credit cards…
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Credit card debts have surged at the fastest annual rate in 12 years in February. The latest figure from UK Finance shows that consumer spending use of credit cards, with outstanding levels of card borrowing, grew at a rate of 6.3 percent over the year, whilst the use of loans and overdrafts continues to fall.…
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Latest UK Finance lending figures show that gross mortgage lending in February is estimated to have been £19bn, 4.9 percent more than a year ago but below the monthly average of £21.4bn for 2017, The data also shows re-mortgage approvals in the month are up over 9 percent in both number and value compared to…
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New research from Citizens Advice shows high-interest rates, late payment fees and expensive add-ons are leaving rent-to-own consumers struggling to pay for goods that they can end up having to return. Figures in the charity’s new ‘Rent to Return’ report show if existing rent-to-own loans were priced down through a similar cap to that on…
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Ofgem has banned Iresa from taking on new customers, increasing existing customers’ direct debits, and asking them for one-off-payments, for up to 3 months until it resolves customer service issues. Over this period, Ofgem has ordered Iresa to improve the service it provides to its customers, including in the following ways: (2) extending call centre…
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New Lloyds Bank analysis shows 3% year-on-year growth in essential spending putting pressure on outgoings with only 35% of working consumers believing they have seen their household income increase over the last 12 months according to the latest Lloyds Bank Spending Power Report. In the monthly Ipsos MORI survey of over 2,000 bank account holders…
Read moreParents are dipping into their kids’ savings to supplement day-to-day living costs, a study has found. Researchers polled 5,000 mums and dads and found one fifth have borrowed money from their children’s piggy banks and accounts in order to pay their living expenses. Nearly half of those have taken cash out of their little one’s…
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Danko Maras has been appointed as Intrum’s new Chief Finance Officer (CFO). Mikael Ericson, President and CEO of Intrum said “I am delighted to welcome Danko Maras to Intrum. We stand on the threshold exciting opportunities in the years ahead, and will continue to create value for both clients and owners, by continuing to develop…
Read moreNearly two thirds (65%) of finance organisations are already prepared or preparing for an initiative related to blockchain, an in-depth study of over 1000 finance professionals has revealed. The research commissioned by Onguard, the fintech firm that focusses on the order to cash process, discovered that nearly a quarter (23%) of the organisations polled are…
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