Credit, Collections & Insolvency News
A third (34%) of those who are planning to retire in 2020 continue to financially support their families with regular handouts amounting to over £3,700 per year, new exclusive research from specialist adviser Key shows. The research found that with retirees planning on an average retirement income of £20,663, figure that may drop due to…
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People in the UK continue to feel the strain on their finances due to Covid-19 pandemic with those aged 18 to 24 most affected according to credit reference agency Credit Kudos’ second Borrowing Index. The survey of 2,000 people across the UK found that almost two in five (37%) of the youngest adults have seen…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in September 2020 by 5% compared with the same month in 2019, and contracted by 19% in the nine months to September 2020. Consumer car finance new business by value grew in September by 11% compared with the…
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New figures released by the Finance & Leasing Association (FLA) show that the consumer car finance market reported growth in new business volumes of 7% in September 2020 compared with the same month in 2019. In the first nine months of 2020, new business volumes in this market were 22% lower than in the same…
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New figures released by the Finance & Leasing Association (FLA) show that Second charge mortgage new business volumes fell by 40% in September 2020 Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer & Mortgage Finance at the Finance & Leasing Association (FLA), said “The second…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell by 11% in September 2020 compared with the same month in 2019. In the nine months to September 2020, new business was 27% lower than in the same period in 2019. The…
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The Money Advice Trust and the Money Advice Liaison Group (MALG) have launched new guidance for creditors on vulnerability and GDPR. The guidance, which looks at data protection compliance and vulnerable customer regulation, provides practical action staff can take to manage disclosures of vulnerability. Authored by Chris Fitch, Vulnerability Lead Consultant at the Money Advice…
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