Credit, Collections & Insolvency News
The second Commercial Credit & Collections conference saw the themes of Brexit and technology within credit management discussed at an event hosted by Aon and CVR Global at last week’s (23rd January 2020) event held at the Leadenhall Building in London. Over 80 industry professionals from the commercial credit management sector attended the event. The…
Read moreThe first point to make is that at whatever stage of the journey your customer has reached within your organisation, they must remain first and foremost a consumer who is provided with clear information and kept appropriately informed, to paraphrase the Financial Conduct Authority’s (FCA) Principle 6. It has always been important to treat customers fairly,…
Read moreIn what is a landmark case for the Insolvency Service, the courts have recently ordered a disqualified wine merchant to pay back more than £500,000 to creditors. This was after he abused customers’ trust and removed funds, of which a large part was due to be paid to customers after selling their wine stocks or…
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Utility Warehouse is to refund and compensate 3,430 Warm Home Discount customers with £450,000 after it overcharged them, due to a system error when the price cap was applied. The supplier will pay a further £200,000 into Ofgem’s voluntary redress fund, in recognition of the seriousness of the breach and the impact on potentially vulnerable…
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StepChange Debt Charity has appointed Vanessa Northam as its new Head of Strategic Relationships. Northam joins from Tully (part of the Openwrks Group) where she was previously Head of External Affairs. She will join the charity on 3rd February, reporting to Vikki Brownridge, Director of Charity Development. Northam and her team will be responsible for…
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The latest figures released by the Finance & Leasing Association (FLA) show that new business volumes in the consumer car finance market fell in November 2019 by 1% compared with the same month in 2018, and remained stable in the eleven months to November 2019. The consumer new car finance market reported a fall in new business…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in November 2019 by 2% compared with the same month in 2018, and held steady in the eleven months to November 2019. Credit card and personal loan new business together grew in November 2019 by 2% compared with…
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New research from insolvency firm, Begbies Traynor has revealed that the number of businesses in significant1 financial distress has risen to 494,000 – the highest number recorded by this research, with the real estate and property, support services, construction and retail the sectors particularly badly affected. The latest Red Flag Alert data for Q4 2019…
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Omnichannel contact centre technology solutions provider, Noble Systems has announced it ha renewed its partnership with debt recovery agent Pastdue Credit Solutions Pastdue Credit Solutions have been a Noble customer for over 10 years and first purchased a Premise-based Contact Centre solution. James Riley, VP Sales & Marketing said, “We’re pleased to continue this solid…
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Gala Technology has announced that it has won the ‘PCI 2020: Award For Excellence’ alongside leading acquirer Elavon and Dalata Hotel Group. For the second year running, Gala Technology, the specialist provider of secure payment solutions, has been presented with an award for its PCI DSS compliance solution. Gala Technology CEO Jason Mace, who collected…
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Ovo Energy has agreed to pay £8.9 million for issuing inaccurate or incomplete information to customers, and for under and overcharging customers due to IT issues. These breaches occurred while Ovo did not put enough attention on ensuring its processes and governance were capable of complying with Ofgem’s rules. Following an investigation by the energy…
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