Credit, Collections & Insolvency News
The recent introduction of new GDPR regulations has impacted on nearly all of us. Who hasn’t been deluged with emails from every company they have ever interacted with online? Wading through this plethora of messages from companies desperate not to fall foul of the new regulations, I was reminded of a similar frenzy in the…
Read more
The Financial Conduct Authority (FCA) has today proposed a new Directory to help consumers and firms check the status and history of individuals working in financial services. The Directory will include all those who hold Senior Manager positions requiring FCA approval and those whose roles require firms to certify that they are fit and proper.…
Read more
If you’ve attended any recent conferences or industry events, you’ve probably heard a lot about artificial intelligence, or AI. Claims about AI seem to be everywhere! None other than Sundai Pichar, Google’s CEO, has called it ‘one of the most important things humanity’s working on. It’s more profound than… electricity or fire.’ As far as…
Read more
Administration notices have been issued and advertised in the London Gazette for the following companies: 1ST CALL RECRUITMENT LTD A2B LOGISTICAL LTD ABBEVILLE INSTRUMENT CONTROL LTD ADAM MICHAEL SCAFFOLDING SERVICES LTD ADM PRECISION LTD AL-UMMAH HALAL POULTRY LTD ALLABOUT CLEANING SPECIALISTS LTD ANBO INTERNATIONAL LTD B & W LOGISTICS LTD BARWELL FINISHERS LTD BAXENDEN DEVELOPMENTS LTD…
Read more
New research from Direct Line Life Insurance reveals consumers are hiding over £69bn of debt from their partners. People are completely in the dark over their loved ones’ finances, with 8.3 million (16 per cent) of consumers having debts their partner knows nothing about. The average debt hidden from a partner in the UK is £8,293,…
Read more
The leasing sector needs to become more agile to meet the needs of an increasingly important and ‘entitled’ SME sector. This is the observation from financial software experts Copernicus’ MD Allen Jones reflecting upon a cultural and technical change that is emerging rapidly in the business community. “While there has been much written and reported about…
Read more
Ofwat has said that high levels of payments to bosses and investors by water companies have damaged customer trust. In a number of changes to Ofwat’s 2019 price review (PR19), a range of measures have been included that would see customers share the financial gains made by water companies which have high levels of debt.…
Read more
Nearly a quarter of all credit card searches carried out through Experian are for credit builder cards, new analysis from its first Credit Search Barometer has revealed. These cards give those with “thin” credit files or those with low credit scores the chance to get on track and gradually improve their creditworthiness by showing they…
Read more
Debt levels among Britain’s listed companies have hit a record high according to new research by Link Asset Services. Link Asset Services’ Debt Monitor report has revealed that listed companies’ debt has increased 69% since 2010/11, with oil companies seeing the fastest increase. The report measures the level of debt taken on by the UK’s…
Read more
At least 2.97 million families living in properties across the UK do not have life insurance cover to ensure that their mortgages are paid off should the policyholder pass away, according to new research by Compare The Market. The lack of life insurance protection is particularly concerning given the growing levels of mortgage debt and…
Read more
Millions of Brits are ‘fed-up’ with ‘overly complicated’ web and phone security measures, a new study has found. Researchers who polled 2,000 UK adults found 77 per cent don’t see the need for what they consider ‘unnecessary’ procedures. Around half are sick of having to answer ‘endless’ security questions whenever they call customer service departments.…
Read more
Greece’s largest lender Piraeus Bank said on Monday it agreed to sell a pool of unsecured non-performing loans (NPLs) to APS investments, confirming what banking sources told Reuters last month. The portfolio labelled Arctos, includes credit card and consumer loans and is part of effort to shrink the bank’s bad debt load. The sale of the…
Read more
Henry Howard Finance Group has announced that it has appointed joint heads of sales support. Nicola Evans, who joined the Newport-based firm as a business analyst in May last year, has become the head of sales support. Evans shares the role with her former GE Capital colleague, Jane Brown, who has worked in asset finance…
Read more