Credit, Collections & Insolvency News
The Credit Services Association (CSA) has welcomed the support for fair treatment for people struggling with mental health but has expressed concern over the continued characterisation of their members as being ‘anti-consumer’. The CSA, which represents over 300-member firms dealing with more than 40 million cases, has called upon the debt charity sector to work more closely with…
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More than 80,000 people have had their mortgage help stopped according to the first official figures released since changes were made to the Support for Mortgage Interest (SMI) scheme. The figures issued on 24 April show only 18,000 claimants out of a caseload of 103,000 have opted to continue to receive SMI under a new…
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The UK’s second largest home collected credit Morses Club has announced its preliminary results for the 52 weeks ended 24 February 2018. Commenting on the results Paul Smith, Chief Executive Officer of Morses Club, said “We are very pleased to report that FY18 was an even stronger year for Morses Club, reflecting our continued success in serving…
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Prudential Regulation Authority (PRA) rules introduced at the end of September 2017 are having a significant impact on the buy-to-let mortgage market according to Paragon’s latest PRS Trends research. The research is based on interviews with 203 experienced landlords in Q1 2018. The new rules comprise the second phase of the PRA’s buy-to-let underwriting standards and…
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I’ve just been taking a look at the Financial Conduct Authority 2018/19 business plan, published today and, in particular, the bits about debt solutions. The numbers are interesting. So are the implications for the future of debt advice but that’s for another time. FCA say: “Financial Lives data suggest that 3% of UK adults used debt advice or debt…
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There has been plenty written online about GDPR compliance already. Since the New Year it has become a popular blog topic. Indeed, most large businesses already have had large central programs underway for some time. Mapping of data and the basis of processing should have been already established. Privacy notices and any updates to data policy may have…
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The Competition and Markets Authority (CMA) has found that the merger of SSE Retail and Npower could lead to higher prices for some billpayers, following its initial investigation. The CMA) has been assessing whether SSE Retail and Npower’s proposal to create a new energy company for domestic retail customers could reduce competition. Its initial Phase 1 investigation…
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