Credit, Collections & Insolvency News
Debt solution specialist, Flexys has announced the launch of a COVID-19 hardship evaluation tool. Flexys says that with 900,000 people applying for universal credit in the space of two weeks and thousands more on furlough or reduced hours, many lenders have experienced up to a tenfold increase in customers contacting their collections and customer service…
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March 2020’s Money Statistics, produced by The Money Charity, are released from a place significantly different to anything the majority of us will ever have witnessed before, and almost certainly unlike any previous period for which this report has existed. Life has changed very quickly for the whole of the UK, leaving most of us…
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The standard arguments in favour of Point of Sale (POS) retail finance are familiar: Higher sales and bigger purchases. New research suggests, however, that retailers may not be quite as sold on the concept as many assume. Zero per cent solutions come at a cost for retailers, while for some retailers POS finance can itself…
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Award-winning fintech, Credit Kudos, has announced the closure of a £5 million Series A funding to support its mission to make affordable credit accessible to all. The investment was led by AlbionVC with participation from a stellar consortium of fintech and tech investors such as TriplePoint, Plug & Play Ventures, Ascension Ventures’ Fair by Design…
Read moreResults from the third British Chambers of Commerce (BCC) Coronavirus Business Impact Tracker have revealed that the majority of businesses responding to the survey have now furloughed a proportion of their workforce, and are awaiting funds from the government’s Job Retention Scheme to enable them to pay staff. 66% of survey respondents have furloughed staff in anticipation of scheme going live with more than half of firms (59%) have three…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in February 2020 by 6% compared with the same month in 2019. Credit card and personal loan new business together grew in February 2020 by 9% compared with the same month in 2019, while retail store and online…
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New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the consumer car finance market fell in February 2020 by 1% compared with the same month in 2019. The consumer new car finance market reported new business volumes 8% lower in February 2020 compared with the same month in…
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The regulator of UK’s gambling industry says the credit card ban which has now come into force (14th April) will add another vital layer of protection for consumers. In January, the Gambling Commission and the Department for Culture, Media and Sport (DCMS) announced the widely-publicised ban – meaning that from today any consumer gambling will…
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