Credit, Collections & Insolvency News
The pandemic is having a significant impact on people’s household finances according to new analysis by TUC. The analysis has found that some consumers will be saving money, due to no longer having to commute or due to discretionary spending being constrained while holidays, meals out and pub visits aren’t possible. Whilsy others will be…
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Metro Bank is to purchase £384 million in loans from peer-to-peer investors through the RateSetter platform. All RateSettter peer-to-peer investors are to have their money repaid after the platform with Metro Bank is purchasing its remaining loan portfolio. The bank has been funding all new consumer lending on the platform following its acquisition of RateSetter…
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Business advisory specialist, ReSolve has announced the appointment of David Riddle, who joins as Chief Operating Officer (COO). Riddle has over fifteen years’ experience in managing all facets of growth businesses, most recently as senior executive manager of a Growth-Capital-backed consumer law business. Starting as executive chief of staff, he subsequently assumed direct responsibilities for…
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Ofwat has announced the appointment of David Black as its Interim Chief Executive following Rachel Fletcher’s decision to take up a new role in the energy sector. Fletcher has been Ofwat’s CEO since January 2018, and will be leaving Ofwat to take up a new leadership role with Octopus Energy. David Black joined Ofwat in…
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Business funding specialist Decimal Factor has chosen to use LendingMetrics’ Auto Decision Platform (ADP) for its assisted decisioning to orchestrate credit decisioning data and scale its business. Decimal Factor specialises in arranging responsible funding solutions, including business loans, pension-led funding and invoice finance. Its goal is to make funding available to small businesses who are…
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A poll from AA Financial Services suggests 21 million are considering taking out a loan this year. The survey saw 44% of respondents say they are planning to borrow money once the coronavirus lockdown ends, with new cars, family holidays and home improvements the most common reasons cited for borrowing money The research, conducted among…
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Over two-fifths (44%) of UK adults who used a Buy Now Pay Later scheme (BNPL) to fund their Christmas shopping are now concerned about their ability to repay, according to the latest findings by comparethemarket.com. Worryingly, one-fifth (20%) are unable to meet these repayments without having to take on more debt, reflecting the concern that these…
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Debt advice specialists, PayPlan, have launched a new online resource to help people better manage their relationship and approach to money. The Financial Wellbeing Hub is free for everyone to use and sets out steps to improve your financial education and look after your personal wellbeing. A person’s financial wellbeing is made up of their relationship with…
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