Credit, Collections & Insolvency News
New figures from the Labour Party have revealed that many of the small businesses which re-opened last week may not make it to Spring. New analysis of official data reveals an estimated 390,000 small businesses are worried they won’t survive the next three months. More than 520,000 small businesses have seen turnover plummet by more…
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The name Robinson Way, one of the oldest in the UK Collections industry, is to disappear eight years after the business was acquired by Hoist Finance. The company will become Hoist Finance UK. The move follows a strategy to unify and harmonize the company’s operating model across the 12 countries in which it operates as…
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New figures released by the Finance & Leasing Association (FLA) show that the consumer car finance market reported a fall in new business volumes of 3% in October 2020 compared with the same month in 2019. In the ten months to October 2020, new business volumes in this market were 20% lower than in the…
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Alphera Financial Services has announced the appointment of Preston Rogers as the company’s new Director for Financial Services. Rogers will replace Spencer Halil who will join Alphabet (GB) as their new Chief Commercial Officer. Both appointments are effective from February 2021 and subject to approval from the Financial Conduct Authority (FCA). Rogers, currently General Manager…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes fell by 35%. 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 “Despite weaker consumer confidence, new…
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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 14% in October 2020 compared with the same month in 2019. In the ten months to October 2020, new business was 26% lower than in the same period in 2019. The…
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New figures released by the Finance & Leasing Association (FLA) have shown that consumer finance new business fell in October 2020 by 11% compared with the same month in 2019, and decreased by 18% in the ten months to October 2020. Consumer car finance new business by value and retail store and online credit each…
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The Consumer Credit Trade Association (CCTA) has announced the launch of a strategy to reshape the organisation and create a stronger voice for alternative lenders. Ahead of the CCTA’s Annual General Meeting and the start of its new membership year, the CCTA explained it is making changes to its structure, carrying out a review of…
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Shopping with small and local businesses has never been more important with almost one-third (31%) of the UK’s SMEs relying on the Christmas period to help them survive, according to new research released by Nucleus Commercial Finance. The research found that one in five (20%) SMEs are anticipating a challenging Christmas trading period – comprising…
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UK Finance has announced the appointment of Sarah Bailey as its new Managing Director (MD) for Corporate Affairs. Bailey is currently Director of Media Relations for London Stock Exchange Group (LSEG), will join UK Finance on 25th January 2021. She will replace Rebecca Park, the outgoing Managing Director of Corporate Affairs, who will be joining…
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Independent specialist finance provider to UK businesses 1pm plc, has announced that it has changed its name to Time Finance plc and that all companies within the Aim listed 1pm Group will be renamed under the Time Finance brand. The rebranding reflects the evolution of the business over a number of years, culminating in the recent…
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