Credit, Collections & Insolvency News
Energy regulator, Ofgem has revealed that the lowered energy price cap. The level of the price cap will fall by £84 from October to its lowest level £1,042, driven by lower wholesale energy costs following the COVID-19 pandemic. The level of the cap for prepayment meter customers will fall by £95 as a result of…
Read more
Water companies in Wales must build a stronger relationship with their customers to reduce the risk of households missing out on vital help with their water bills and other assistance when they hit hard times. The Consumer Council for Water’s (CCW) annual survey Water Matters revealed about a third of household customers have little awareness…
Read more
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in June 2020 by 17% compared with the same month in 2019, and contracted by 25% in the first half of 2020. Credit card and personal loan new business together fell in June 2020 by 29% compared with…
Read more
New figures released by the Finance & Leasing Association (FLA) show that new business in the consumer used car finance market grew 9% by value and 2% by volume in June 2020 compared with the same month in 2019. In the first half of 2020, this market reported new business volumes 32% lower than in…
Read more
New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes fell by 71% in June 2020. Commenting on the latest new business figures for the second charge mortgage market, Geraldine Kilkelly, Head of Research and Chief Economist at the Finance & Leasing Association (FLA), said “The relatively…
Read more
New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell by 41% in June 2020 compared with the same month in 2019. In the first half of 2020, new business fell by 32% compared with the same period in 2019. The business…
Read more
Cerebreon has launched a new automated affordability tool, enabling insolvency practitioner and debt management firms to complete fully compliant I&E reports in less than 5 minutes. The company says that it uses pioneering machine learning technology to automate I&E production and reporting processes for insolvency practitioner firms. Gillian Doyle, CEO Cerebreon said “Cerebreon’s digital Income…
Read more
European debt purchase and credit management specialist, Cabot Credit Management has announced a pre-tax profit decrease in its latest financial results falling 64% to £14.8 million when compared to 2019 figures, The company has delivered adjusted EBITDA of £342 million over last twelve months Collections decreased as a result of Covid-19, falling by 16% on…
Read more