Credit, Collections & Insolvency News
The Government has announced that it has completed the £5 billion pound sale of the final chunk of its ‘bad bank’ comprising failed lenders Bradford & Bingley (B&B) and Northern Rock (NRAM0. The Government says that the final sale constitutes a significant milestone in the work to achieve the government’s objective of returning the institutions…
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The Insolvency Service has published its annual performance data for 2020 about Individual Voluntary Arrangements (IVAs). The figures show that early termination rates of IVAs have dropped 11% in the past year, while total IVAs have risen by almost 20,000 since 2018 and that IVAs have risen steadily on an annual basis since 2015, although…
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IE Hub has announced that Dylan Jones will be joining the business as its new Chief Executive Officer (CEO). Jones has previously worked in senior business development and leadership roles at TransUnion, FICO and Callcredit. At TransUnion he was responsible for software sales and was also leading sales to the strategic banking sector. While at…
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Peer to Peer lender, The House Crowd has entered administration. On 24th February, the Directors of The House Crowd, a regulated Peer-to Peer firm, placed the company into administration and appointed Frank Ofonagoro, Jeremy Woodside and Frank Wessely of Quantuma Advisory as joint administrators. The House Crowd, formed in 2012, operated a Peer to Peer…
Read moreThe Social Market Foundation (SMF) estimates that nearly 770,000 families are at risk of losing their homes if they suffer a loss in income when a ban on repossessions ends in April. The Social Market Foundation think tank analysed official data and found that of the 770,000 at risk of repossession, a quarter (26%) worked…
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Lloyds Banking Group Motor Finance and Leasing has announced two new senior appointments. Meryem Brassington has been appointed as Electrification Propositions Lead whilst Iryna Kocharova has been appointed as Head of Corporate Customer Journey and Sustainability. The bank says that the appointments reinforce the group’s commitment to a green transition, pledging to reduce the carbon…
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Branch staff at banks, building societies and Post Offices worked with the police to stop £45.3 million of fraud through the Banking Protocol rapid scam response last year, bringing the total amount of fraud prevented to £142 million since the beginning of the scheme, according to the latest figures from UK Finance. Launched in 2016, the Banking Protocol is a UK-wide scheme, developed in…
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Scottish FinTech Exizent has announced three new client partnerships with Countrywide Tax and Trust Corporation, Thursfields Solicitors and Thorntons. All three companies have agreed to digitise their probate with Exizent’s new platform. In September, Exizent raised £3.6 million in funding to transform the way the legal and financial services industry deals with bereavement by bringing…
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Enforcement services specialist, Marston Holdings has donated £10,000 to Radical Recruit’s crowdfunding campaign. The donation will enable Radical Recruit, a not-for-profit organisation that bridges the gap between disadvantaged job seekers and the business world, to support even more homeless people back into the workplace by developing an online tool that will provide candidates with the…
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