Credit, Collections & Insolvency News
Private equity and special situations institutional investor Sandton Capital Partners has announced an enhanced partnership with credit management collections and litigation specialist Credit Style which aims to help deliver faster financial results for Insolvency Practitioners (IPs). The partnership forms part of a new one-stop-shop service launched by Sandton called IP Unlock which also includes further…
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Collections software specialist, Flexys has announced the appointment of Dr David Scholefield to the role of Chief Operating Officer. Scholefield moves from his current role as Chief Information Security Officer and takes up his new role with immediate effect. Flexys says that Scholefield’s appointment is the first in a series of vital new management roles…
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Guarantor lender, Amigo’s plan to cap compensation payouts have been turned down by the High Court, which agreed with the Financial Conduct Authority that the proposal was unfair to the firm’s creditors. Mr Justice Miles said borrowers had not been given the necessary information to understand “the basis on which they were being asked by…
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More than a million households are struggling to pay their water bills according to the Consumer Council for Water (CCW). According to the CCW, there are about 1.5 million people in ‘water poverty’ which it defines as having to spend more than 5% of their income after housing costs on water bills. As a result…
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The likelihood of consumers securing credit has overtaken pre-pandemic levels, according to latest analysis by Experian. The number of people who have a strong chance of being approved for a credit card is currently 5% higher than in March 2020, while people’s chances of being approved for a loan is 6% higher. Consumers now have…
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Fintech firm, Paylink Solutions, has announced that it has hired Andrew Alder as Director of Developments and Partnerships as they increase their client base across the collections, debt advice and lending markets – and support the UK’s financial services sector to meet increased consumer and regulatory demand. Alder has more than 15 years experience of…
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Universal Credit flaws are stopping vulnerable people from getting help from loved ones to manage benefits, leaving 100,000s struggling, and some risking benefits cuts according to new research by the Money and Mental Health charity The charity is launching a new campaign — Set Up To Fail. The campaign calls for urgent action from the…
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Here is an overview of The Money Charity’s latest statistics for May 2021 Personal debt in the UK People in the UK owed £1,712.9 billion at the end of March 2021. The average total debt per household, including mortgages, was £61,435 and per adult was £32,326, around 110.3% of average earnings. Net mortgage lending rose by…
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