Credit, Collections & Insolvency News
Research is imperative to digitally transform processes to accelerate effective collections. Today’s debt collection pain points are the broken communication channels between customers and collectors. Poor tools ultimately confuse customers, frustrate debtors and collectors, and make it far less likely that parties can come to agreeable terms. There are tools and processes that can modernise…
Read more
New data from Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, has revealed that spending on essentials declined 0.9 per cent in December, with supermarkets contracting by 0.9 per cent compared with December 2018. Petrol expenditure also fell by 0.5 per cent. Many retailers also continued to see contractions in…
Read more
Lantern Debt Recovery Services has achieved a ‘gold’ award from customer experience experts, Investor in Customers (IIC). This is Lantern’s third IIC assessment – with scores steadily increasing from ‘Silver’ in 2017 and 2018 to Gold this year. IIC is an independent assessment organisation that conducts rigorous benchmarking exercises. These exercises determine the quality of…
Read more
The Financial Conduct Authority (FCA) is proposing to reform the easy access cash savings market. Under new rules all firms will have to set a single easy access rate (SEAR) across all easy access accounts. Firms will have flexibility to offer multiple introductory rates for up to 12 months, then they will need to choose…
Read more
Ofgem has launched an investigation into whether Utilita broke rules around charging customers above the permitted level of the price cap for prepayment meter customers, between May and September 2019. The Prepayment Meter Price Cap came into force on 1 April 2017. The cap is temporary, and applies to prepayment meter customers on a non-fixed…
Read more
New statistics from Comparethemarket.com have revealed the financial consequences of ‘Buy Now, Pay Later’ schemes. The survey of over 2,000 UK adults indicates that over two million UK adults who have used ‘Buy Now, Pay Later’ schemes (BNPL) have had their credit scores damaged by using these payment schemes, as national levels of consumer debt continue…
Read more