Credit, Collections & Insolvency News
Ofcom has fined BT £245,000 after an investigation found that the company overcharged EE’s mobile customers for making calls to 118 directory enquiries services. Ofgem said that although use of directory enquiries has declined in recent years, many people still rely on them as an important means of obtaining the number they need. Older people…
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Three partnerships between community lenders and fintechs have secured a cash prize of £200,000 each for developing innovative solutions that make credit more accessible and affordable, particularly for the most vulnerable. The cash prize is part of a £2 million Affordable Credit Challenge, run by Nesta Challenges in partnership with HM Treasury. The Challenge enables…
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A sharp rise in the number of people ‘dying in debt’ has led Begbies Traynor to expand a specialist team. The company says that the number of cases involving the insolvent estates of deceased people is rising, largely due to more ‘hidden debts’ or unpaid care home fees being discovered. When the liabilities of an…
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The Financial Conduct Authority (FCA) has released its latest research into mortgage switching and how consumers can be encouraged to seek out better deals. The FCA says that they believe there is a case for intervening to help mortgage customers who do not switch. The research found the factors that contribute to the decision not…
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Non-standard financial services provider, Morses Club, says it expects its adjusted pre-tax profits to fall by 18% to 23%. The company says the performance of the Home Collect Credit (HCC) division during the period has been very strong in a sector that continues to face headwinds and is expected to maintain like-for-like profitability. Total credit…
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Over two-thirds of UK SMEs (69%) have reported significant pressures on their cash levels according to latest insights from business lender MarketFinance. This is in large part down to businesses paying for supplies earlier than anticipated because of coronavirus-related stockpiling and fears of deeper disruptions to transport (road, air and rail) linkages. Additionally, on orders…
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