Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) has announced new proposals designed to protect millions of people who use overdrafts and high-cost credit. The changes the FCA are consulting on follow an in-depth review into the high-cost credit market and are expected to reduce the costs for consumers and give them greater control over their finances. These…
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SSE’s has announced that it will increase its energy prices by 6.7%. The price rise will affect 2.36m customers. Commenting on the news Gillian Guy, Chief Executive at Citizens Advice, said “It’s extremely disheartening to see SSE join the rest of the ‘big six’ energy suppliers in raising prices for its standard variable customers. Today’s price…
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Greece’s largest lender Piraeus Bank has announced that it has agreed to sell a 1.45 billion euro portfolio of secured, non-performing business loans to Bain Capital Credit as part of moves to reduce its bad debts. Greek banks have been under regulatory pressure to tackle their bad debt problem, which restricts their ability to expand…
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Some people in my sphere hold the opinion that I must be barking mad to work in the area of financial services that I do. Or even in financial services at all. In fairness it’s an apt description given that credit controllers are often referred to as Rottweilers! Yet, stepping away from the association with…
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The summer months can represent a difficult time for companies’ cash flow.Internally, resource can become stretched as staff disappear on summer holidays and take time off to look after their children during the school break. And particularly during good weather and high-profile sporting events (the World Cup will surely grip the nation), the temptation is…
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