Credit, Collections & Insolvency News
The Covid-19 Pandemic has left six million people more afraid of becoming homeless according to new research by Shelter. The charity’s research indicates that one in seven adults (14%), equivalent to more than six million people in England are more worried about becoming homeless due to the pandemic. With people’s incomes slashed, job losses mounting, and people hanging onto their…
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Almost one year on from the UK’s first national lockdown, UK Finance has outlined key statistics on the impact of the banking and finance industry’s support for businesses and customers across the country over the last twelve months. 2.75 million mortgage payment holidays were granted up until the end of 2020, with 1.8 million in…
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The Financial Conduct Authority (FCA) has expanded its probe into how Amigo Loans handled mis-selling complaints from customers. The regulator has been looking into how the lender assessed its clients’ creditworthiness since May 2020 and has now announced that it is extending the scope of the investigation to include the company’s complaints handling process. The…
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Nearly one in five of homeowners (19%) have been unable to remortgage their home since the pandemic started and could now face higher monthly mortgage repayments as a result, according to research by comparethemarket.com. The impact of the pandemic on employment and financial stability has meant that many households have become ineligible for competitive fixed-rate…
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Debt purchaser Lowell has announced its full-year results for 2020 results which indicate that collections have continued to demonstrate resilience with cumulative performance against its December 19 static pool forecast improving to 94% in December 2020, up from 93% in September 2020. The results demonstrated that its cash EBITDA stayed at just under £500 million,…
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Outsourced receivables management services specialist Barratt Smith Brown has appointed Ian Deacon as its new Director of Utilities Collections. Deacon joins from British Gas where he was Head of UKB Debt Strategy and Analytics. Deacon brings a wealth of industry experience with a career that includes 18 years within British Gas business-to-business operations and finance.…
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The Money and Pensions Service (MaPs) has revealed plans to launch a single offering for consumers. The Service says people across the UK will be empowered to manage their financial wellbeing with greater confidence and clarity throughout their lifetimes, when a holistic new consumer brand launches this summer. The new service called MoneyHelper was developed…
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