Credit, Collections & Insolvency News
More products are needed to accelerate the motor finance sector towards providing a spectrum of options that meet the needs of customers at all points of the market. Really, what we have done at Startline is add near prime options to a motor finance sector that consisted almost entirely of prime and non-prime lending. It’s…
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Now is the time to assess budgets and plans for the future. With regulatory pressures lessening, this year is the year of growth. Here’s one of our top predictions. This year, we anticipate a surge in the number of lenders adopting modern Machine Learning techniques to produce the powerful credit scores they crave. Why now?…
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IHS Markit’s UK Household Finance Index (HFI) hit 47.6 in February, from 44.6 in January, as UK households’ perceptions of their financial wellbeing rose to its highest-ever levels. The Household Finance Index rises to 47.6, from 44.6 in January as UK households foresee a solid improvement in their financial health over the next 12 months.…
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A third of undergraduates are using loans, overdrafts and credit cards to pay rent at university, the National Student Accommodation Survey 2020 has found. Some are even taking out payday loans to pay their landlords. The annual research by money advice site Save the Student polled 2,168 students, and reveals widespread borrowing among undergrads. Although 36% turn…
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Sandwell Council rent arrears have hit £5.7 million as it’s IT system struggles with Universal Credit. The authority is now set to spend more than £400,000 on new IT software which is hoped will boost income by almost £700,000 in the first 12 months by correctly identifying tenants most at risk of not paying. A…
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A new guide has been published to help financial firms — and other creditors — better understand and support customers struggling with both debt and mental health problems. Research by the Money and Mental Health Policy Institute shows that half of all people in problem debt in England also have a mental health problem, which…
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A debt collection agency has been wound up after it misled clients over services it had promised to deliver and failed to account for money collected for its clients. Redwood Business Management Ltd, based in Newcastle upon Tyne was wound-up in the public interest on 3rd February 2020 at the High Court in Manchester before…
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Payments company Bottomline’s purchase of Experian Payments Gateway does not raise competition concerns, an in-depth Competition and Markets Authority (CMA) investigation has provisionally found. The Competition and Markets Authority (CMA) has been investigating Bottomline Technology’s completed purchase of the Experian Payments Gateway (EPG) business from Experian. Bottomline and EPG provide payments software used by businesses…
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Retired homeowners saw their property wealth increase by more than £3,150 in the past year despite the impact of political and economic uncertainty on the housing market, analysis* from UK’s leading independent equity release adviser Key shows. Total property wealth owned by over-65s who have paid off mortgages is valued at £1.133 trillion and has increased…
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