Credit, Collections & Insolvency News
Over £100 billion in support from banks and the government has been received by UK firms through coronavirus stimulus initiatives, with lenders distributing more than £58 billion and companies claiming £39.3 billion under the furlough schem. Figures from HM Treasury published today reveal that UK lenders have supported over 1.33 million businesses across the country…
Read more
Motor finance companies need to be working now with vehicle retailers and technology providers to create uniformity across all channels through which their products are sold in line with new FCA regulations, according to iVendi. The online motor retail specialist says that many appear to be concentrating on ensuring the compliance of their own captive…
Read more
The Central Bank of Ireland published a Research Technical Paper (RTP) written by David Horan, Reamonn Lydon and Tara McIndoe-Calder, entitled “Household wealth: what is it, who has it, and why it matters”. The RTP presents the results from Household Finance and Consumption Survey (HFCS) 2018, including key developments since the last survey, in 2013.…
Read more
The Federation of Small Businesses (FSB) National Chairman Mike Cherry, has responded to Boris Johnson’s speech in the Commons in which he outlined fresh restrictions for businesses in England as the pandemic figures for COVID-19 grow into a potential second wave. Cherry said, “We’ve already suffered from six months of disruption linked to this virus,…
Read more
Virgin Money will put mortgage eligibility in the hands of homebuyers and intermediaries after joining Experian’s pre-qualification platform, helping to widen its reach in the digital marketplace. The partnership sees Virgin Money become the latest brand to join Experian’s panel of lenders that appear on pre-qualification websites and adviser platforms. It helps to match prospective…
Read more
The Public Sector is failing debtors, especially the most vulnerable, and needs to urgently learn the lessons from the private sector according to the Chartered Institute of Credit Management (CICM). The concept of ‘vulnerability’ is also too vague, and as such many of those most in need of help are falling between the cracks. The…
Read more