Credit, Collections & Insolvency News
The annual growth rate of consumer credit slowed in July, to 8.5% but remains elevated relative to 2009-12 according to the latest lending figures from the Bank of England. Households borrowed an additional £3.2 billion secured against their homes in July. Net lending has been relatively stable over the past year but this was the lowest…
Read moreHome credit specialist, Morses Club has provided its latest trading update for the 26-week period to 25 August 2018. The company has reported a 4.3% rise in the credit it issued during the first half of 2018. Trading in line with the Board’s expectations with total credit issued increased to £85.7m compared to the same period last year (H1…
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Britsh consumers are more confident in their own finances than the country’s according to Lloyds Bank latest spending power report has shown. The survey found that almost half (46%) of people lack confidence in the UK’s current employment situation, yet 81% are comfortable with their own job security. Likewise, 54% report a gloomy outlook on inflation…
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Debt purchaser,Arrow Global Group has announced its results for the period ended 30 June 2018. Commenting on the results, Lee Rochford, Group chief executive officer of Arrow Global, said “Momentum at Arrow remains strong. Our broad sourcing capabilities and operating platform have enabled the Investment Business to continue to achieve consistent returns, with unlevered net IRRs…
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Debt Purchaser, Lowell has announced its Q2 2018 Results, for the period ending 30 June 2018. The quarter has delivered continued growth across all key metrics – reinforcing the Group’s ability to achieve sustainable growth through strategic investment and diversification, unmatched data insight and customer focus. James Cornell, Group CEO, said: “I am very pleased…
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More than a third of UK young people think they will still be in debt by the time they’re 40, as they report worsening debt levels, finds Young Women’s Trust. The charity, which helps young women on low or no pay, surveyed more than 4,000 young people with Populus Data Solutions to find that one…
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Debt Purchaser, Intrum has announced that it is reorganising its regional structure combining Spain, Portugal and its newly acquired unit in Brazil, communicated in the Interim Report 24thof July, into a new region to be called – Iberian Peninsula and Latin America. The new Intrum region takes shape based on the strong cultural, historically and…
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The Competition and Markets Authority (CMA )has announced that it has provisionally found that the proposed merger between SSE Retail (SSE) and Npower does not raise competition concerns. An inquiry group of independent Competition and Markets Authority (CMA) panel members has investigated how the merger would affect householders, following initial concerns about the potential impact on ‘standard variable tariffs’…
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Henry Howard Finance Group has announced it has appointed a new Group Chief Financial Officer (CFO). Mark Tweed will join Henry Howard Finance in October, where he will take up responsibility as Group CFO and Head of Legal. Tweed joins from Opel Vauxhall Finance, where he was held various pan European CFO and CEO roles…
Read moreThe number of credit card applications have soared in the past year, with banks doubling their efforts in handling these record numbers of credit card applications. This has been the sharpest rise since March 2007, according to a study by the Bank of England. However, banks are increasingly being unable to allocate sufficient time and…
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In an industry facing a constant onslaught of regulatory and media scrutiny, new product development can be a challenge. Meeting consumer demand for fast and accessible alternative credit with compliant approaches and affordable products is a complex mix. Some of the biggest companies in the industry have found, at their great cost, that getting this…
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