Credit, Collections & Insolvency News
Challenger credit bureau Credit Kudos has announced the releases of their newest credit risk scoring metric, the ‘Liquidity Score’. Using Open Banking data, the newly introduced Liquidity Score predicts how liquid an individual will be in the future, i.e. the likelihood an individual will remain above £0 or above their unarranged overdraft across all bank…
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A new company has announced its launch as a free digital marketplace for the management, oversight and enforcement of judgment debt. The company focuses on ensuring that creditors are paid what they’re owed and that debtors are treated fairly, whilst raising standards across the whole High Court Enforcement industry. Te launch marks the first time…
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Monevo, Europe’s largest personal loan marketplace and platform has scored a hat-trick of new partners with Confused.com, Monese and Yolt. The hat-trick follows on from a series of wins for the global fintech company, which is based in the UK. Confused.com, Monese and Yolt now join a host of other brands seeking to enhance their…
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The Insolvency Service (IS), the executive agency responsible for overall authorisation and regulation of the insolvency profession (including supervising the insolvency regulators) conducted its annual monitoring on the Insolvency Practitioners Association (IPA) in April 2019 as is standard protocol in insolvency regulation. The report has now been published and details improvements that the IPA has…
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Sainsbury’s Bank has announced that it is to stop selling mortgages with immediate effect. As part of its five-year plan for financial services, it will also end all group capital injections after £35 million in 2019/20. Sainsbury’s Group Chief Executive Mike Coupe said the bank “is too expensive to run” and that its cost-income ratio would…
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Begbies Traynor Group has acquired Exeter-based advisory practice Regeneratus Consulting 1, the deal is Begbies Traynor’s third acquisition this year. In March, it acquired the Newcastle upon Tyne insolvency practice, KRE Corporate Recovery, and in June it bought up Dunion & Co, an insolvency firm in Stoke on Trent. Regeneratus, which was founded in 2016…
Read moreMore consultation is needed before the Government progresses plans to change how planes are used in airline insolvencies, R3, the insolvency and restructuring trade body, has warned. On Wednesday (25th September) during a ministerial statement on Thomas Cook, the Secretary of State for Transport, the Rt Hon Grant Shapps, said: “Firms need to be able…
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UK Finance’s latest Household Finance Update has revealed that credit card spending reached £11 billion in August, up one per cent compared to the same month the previous year. Repayments have remained in line with credit card spending, showing that consumers are managing their finances effectively overall. Personal deposits grew by 1.4 per cent in…
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Energy suppliers are getting better at helping vulnerable customers manage their energy day to day, Ofgem’s research shows, but are still too slow at helping rising numbers of customers deal with debt. Ofgem has published its annual report on how suppliers treat their customers in vulnerable situations, including those in debt and at risk of…
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