Credit, Collections & Insolvency News
A former Financial Regulators Complaints Commissioner, responsible for resolving complaints from organisations and individuals with complaints against financial services regulators, is to head up the Business Banking Resolution Service’s (BBRS) new SME Liaison Panel. Antony Townsend, whose previous roles have involved extensive handling of complaints from SMEs in difficult circumstances, starts work this month. He…
Read moreInvoice finance specialist Pulse Cashflow has announced that they have appointed Martin Bennison as Sales and Marketing Director. Bennison joins the company from Ultimate Finance where he served as Head of Sales/MD for Construction Finance for the last decade. He brings a wealth of experience and a credible reputation having worked in the ABL market for…
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UK Finance has published detailed proposals for a new service company that will support the UK’s world-leading open banking infrastructure. Open Banking (OB) provides a secure way for financial information to be shared across different finance providers. It enables services such as account aggregation, meaning customers who have accounts with a number of banks can…
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Morses Club, Chief Executive Officer, Paul Smith has been appointed as a Board Director of the Consumer Credit Trade Association. The CCTA is an independent trade body that represents alternative lenders in the UK. Working closely with regulators and Government, the CCTA aims to promote best practice and provides a strong independent voice for its…
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New figures released by the Insolvency Service indicate that £453.4 million was paid out in missing wages and benefits to workers at firms that went bust last year, the highest total in a decade. The money comes from the National Insurance Fund, going to former members of staff as a result of their employer entering…
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Nearly 12,000 licensed premises have closed in the UK since December 2019, at an average of around 30 per day, the highest rate on record according to new research released by CGA and AlixPartners. The figures indicate the full toll of pandemic and lockdowns on hospitality. While 4,170 new sites have been recorded since December…
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The number of households experiencing problem debt could rise to 1.5 million by the middle of the year, the highest level since the period following the global financial crisis and an increase of 370,000–480,000 since the start of the pandemic, according to research published by Pro Bono Economics for Citizens Advice. The report also suggests…
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LendingMetrics has announced that it has been appointed by the Home Collected Credit division of Morses Club to deliver its credit decisioning solution. Morses Club effected the switch to LendingMetrics’s ADP after a very thorough tendering process supported by a number of face-to-face product and requirements workshops. Even after choosing to work with LendingMetrics, Morses…
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Here is an overview of The Money Charity’s latest statistics for February 2021 Personal debt in the UK People in the UK owed £1,696.4 billion at the end of December 2020. The average total debt per household, including mortgages, was £60,860 and per adult was £32,014, around 107.5% of average earnings. Net mortgage lending rose by…
Read moreLatest Bank of England data released shows that households paid back £2.4 billion of borrowing on credit cards, personal loans and overdrafts in the first month of 2021. The total amount outstanding on credit cards and loans shrank to £199.4 billion, falling below £200billion for the first time since April 2017. Consumer borrowing fell at…
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New research from specialist lender Hodge Bank has revealed that more than half of Brits in their 50s haven’t started actively retirement planning. According to the research, which interviewed over 700 people, the majority of those in their 50s are still working (81%) and planning on leading an active lifestyle into their 60s, meaning that…
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Consumer credit technology and outsourced services provider EQ Credit Services (EQCS), has announced the ‘Go Live’ of its mortgage servicing for Hodge Bank. Hodge is the first client to use the innovative API-led EQ Borrowbox platform from EQCS, explicitly created for the mortgage market and launched to new Hodge customers in November 2020. Mark Evans,…
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Daniel Glenn has been appointed as the new VP of technical Operations at motor retail technology specialist iVendi. Glenn joins from MAG-O, the digital division of Manchester Airport Group, where he was head of technology. Other senior positions include architect roles at The Radical Company and American Management Systems, as well as being IT director…
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