Credit, Collections & Insolvency News
The Government must fix key elements of the Universal Credit application process or millions will fall into hardship in 2019, a new report from Christians Against Poverty. The report cites the experience of low-income debt clients migrating to the new six-in-one benefit that has caused them threats of eviction, escalating mental health issues and extreme vulnerability.…
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1Experian has announced that it has agreed to acquire Compuscan (CSH Group Pty), one of the leading credit bureau and information services businesses in Africa. Established in South Africa in 1994, Compuscan started as a credit bureau, focused on the micro-lending industry. It enabled micro lenders to avoid financial loss by identifying clients’ repayment probability…
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After ten years of growth (2008-2018), it has been suggested that we may have reached the peak in the global construction growth cycle: 2018 will be the turning point according to Euler Hermes’ unique proprietary data on millions of companies across 70 countries. Growth in this industry should gradually cool down to +3.0% in 2019,…
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The original protocol was cobbled together in a rush by the Supreme Court Rules Committee under pressure from consumer groups to do something about heavy-handed tactics on the part of debt purchase companies, particularly in the world of energy and mobile phone debts. There was no consultation with the credit industry and, as a result,…
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Although the ongoing Brexit updates mean the announcement went under the radar, last month saw both Houses of Parliament agree to pass legislation that will put an end to Bans on Assignment. I’m sure you’ll agree that this is great news that many of your clients will see as a positive development. Why are Bans…
Read moreOn 6th December 2018, the Solicitors Regulation Authority introduced new rulings of pricing transparency for certain services, including debt recovery, for any values under £100,000. ‘Debt recovery’ is a very broad term and an extremely crowded market, with suppliers offering various levels of competency, service, approach and success. Some firms are more suited to handling…
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