Credit, Collections & Insolvency News
High-cost short term lender Shelby Finance has written off loans and apologised to customers after not providing them with important information following an investigation from The Competition and Markets Authority (CMA). The CMA has found that Shelby Finance did not provide a summary of borrowing statements to more than 15,000 customers between August 2018 and…
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UK banks are preparing for up to 40 per cent (circa £11 billion) of loans from the Bounce Back Loan Scheme (BBLS) to potentially be written off as irrecoverable according to RSM Restructuring Advisory. RSM says that banks are already preparing and building their teams to pursue businesses that default on the BBLS, a scheme…
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The number of loans and overdrafts approved to SMEs rose by 41.9 per cent in Q1 2020 compared with the previous quarter, according to UK Finance’s latest Business Finance Review figures. While there was growth across all sectors, the increase was especially marked in accommodation & food service (up 74 per cent) and recreation and…
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New Resolution Foundation research has called on the Chancellor to give every household in Britain High Street Vouchers worth £500 per adult and £250 per child, in order to kickstart the economic recovery by focusing support on the firms and workers hardest hit by the covid-induced economic crisis. The proposal, which forms part of wider…
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GambleAware has today published the findings of research commissioned to review the availability, uptake, and effectiveness of bank card gambling blockers (blockers). The review was carried out by researchers at the University of Bristol’s Personal Finance Research Centre (PFRC) and evaluates the potential for blockers to help people who want to control their gambling. The…
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The local areas facing the most severe impact on jobs from the coronavirus downturn have been revealed in research by the Social Market Foundation (SMF). The report from the SMF identifies the places at greatest risk of economic disruption over the next three years – and the areas that will find it hardest to recover.…
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Enforcement market integrator, Just has appointed Victoria Oliver as its Director of Client Development to assist in the delivery of its strategy. Oliver has over 18 years’ experience working in debt recovery, having held senior roles at Fredrickson International, Lowell and Qualco, where she spent over five years as Head of Strategic Projects, Governance and…
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Research by TSB shows that four in five people are tricked by scam bank messages. The study saw 2,000 people presented with texts and emails from companies such as banks and mobile phone operators, half of which were fake. Only 18% of people could correctly identify all of the messages which were scams, with this…
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An estimated 227,000 adult private renters (3%) have fallen into arrears since the start of the pandemic, meaning they could lose their homes when the evictions ban ends on 23rd August according to new research by Shelter. Under the current court system, anyone who accrues rent arrears of eight weeks or more can be automatically…
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The ongoing COVID-19 pandemic crisis poses a significant financial threat to the UK higher education sector. Universities will experience large income losses from falls in student enrolment, especially of international students, as well as lockdown-related losses of income from student accommodation and conference and catering operations. according to new research by the Institute for Fiscal…
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Just has announced the appointment of Andy Wallace as its Chief Information Officer (CIO). Wallace has a long and distinguished career in IT, holding senior positions and delivering major IT developments in organisations including Allen & Overy, Capital One, Ikano Bank, TDX Group, EIS Consultants Ltd and The Robot Exchange. Nick Georgiades, Managing Director of…
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