Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) has fined Barclays Bank £26 million for failures in its treatment of more than 1.5m retail and small business customers in financial difficulties who fell behind on credit card and loan payments between April 2014 and December 2018. Barclays has pro-actively redressed these customers, paying over £273 million to at least…
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New survey results from debt PayPlan have found that during a year where two-thirds saw an income drop due to Covid-19, the majority of parents are worrying about how they will feed their children and far too many are going without food themselves. A lack of income forced 55% of people to cut back on…
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Three in 10 car (32%) of car dealers are unaware of the new FCA rules being implemented in 2021, according to a survey from Close Brothers Motor Finance. The study, which asked dealers how aware they are of the forthcoming changes, found that while two in three (69%) have heard of the new rules, just…
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The Civil Court Users Association (CCUA), whose members issue around 85% of Civil Money Claims in the Courts in England & Wales has said that it is appalled at the latest government consultation to align online civil money claims fees with ‘paper application’ fees, on the basis that it is a further extension of an…
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The Government is planning to launch a replacement for the Covid loans programme with new state-backed guarantees to support lending by banks to SMEs.. Under plans still being finalised, the new Government scheme could guarantee up to 80 per cent of loans of up to £10 million for businesses that are deemed viable but unable…
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Leeds Building Society is working with leading financial services technology provider, Paylink Solutions, to help mortgage customers who may be facing financial difficulties. The building society has adopted Paylink Solutions’ flagship product Embark to obtain a clear and accurate picture of a borrower’s financial situation quickly and digitally. Jaedon Green, Chief Customer Officer at Leeds…
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