Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) has published findings on how mortgage lenders treat customers who have long-term mortgage arrears and provide forbearance to affected customers. The FCA had previously identified that there was a trend of increasing long-term arrears cases, whilst the number of homes being repossessed had been falling. As a result of this…
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Charity, Action for Children has warned that the UK risks ‘Dickensian’ levels of poverty as a new analysis of official government data¹ shows a million children under 10 years old face a desperate Christmas this year. The Charity says that ss other young children spend December writing their Christmas wish-list to Santa, a million under-10s from low-income…
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One-in-five people (22 percent) say they have previously borrowed money from friends and family to help pay for Christmas even though the majority are embarrassed about asking, a new survey reveals. The research, commissioned by Curve, examines how people in the UK plan to finance their spending this holiday season. The results expect the average…
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The value of residential mortgages written off by banks and building societies has increased by 58% in the last year, jumping from £77 million to £122 million in the year to 30 June 2018 according to new analysis by Moore Stephens. Moore Stephens says the increase could be an early sign of distress in the…
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An increasing challenge for major lenders is how to ensure satisfactory governance and oversight of outsourced arrears management suppliers. This is in the context of where the regulatory burden is ever increasing but investment in internal processes and resources – especially in supplier management – may be going backwards. Super-suppliers Increasingly, the solution to this…
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It is said that in time everything changes. Certainly, how most of us feel about borrowing money is likely to change, possibly many times, over the course of our lives. Better intelligence on credit profiling and customer data can support the challenge lenders face in keeping pace with consumer ambitions around lifestyle and loans. It…
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