Credit, Collections & Insolvency News
The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has confirmed Matt Forde – the ex-political advisor turned writer and comedian – as the compere for this year’s Credit and Collection Technology Awards, as part of the UK Credit and Collections Conference Gala Dinner taking place on 13…
Read moreCredit risk analytics specialist, Jaywing has announced a partnership with Hitachi Capital Consumer Finance. The Hitachi Consumer Finance division has appointed Jaywing to explore the potential to significantly improve its existing application credit scores using Jaywing’s AI modelling technology, Archetype. Hitachi Capital Consumer Finance wanted to understand the uplifts that may be possible through using…
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People are increasingly struggling with ‘smaller but trickier’ debts on everyday household bills, according to new figures from National Debtline, run by the Money Advice Trust. The charity expects the number of calls to National Debtline to hit 189,000 by the end of the year – the highest level in five years – with webchat…
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The Government-backed Bank Referral Scheme since the scheme which was launched in November 2016 means that small businesses have been able to source more than £15 million in funding. The scheme allows small businesses rejected by high street lenders to source alternative finance through the referral scheme. The scheme has enable financial support to nearly 19,000 small…
Read moreThe Central Bank of Ireland’s latest money and banking latest statistics from July 2018 indicate that loans to households for house purchase increased by €63 million on a net basis in July. The annual growth rate continues to trend upwards, rising to 0.8 per cent in July, representing the ninth consecutive month of positive growth.…
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After much speculation Wonga has succumbed to the mountain of miss-selling compensation claims against it. The Payday sector is an industry that I understand quite well and I am reliably informed that the vast majority of Payday claims are coming via templated letters from claims management companies on a no win no fee basis. These…
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Wonga Group and WDFC UK have decided to place themselves into administration. Insolvency Practitioners from Grant Thornton are in the process of being appointed as administrators to manage the firms’ businesses and affairs. An announcement on the website said “A decision has been taken to place Wonga Group Limited, WDFC UK Limited, Wonga Worldwide Limited…
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