Credit, Collections & Insolvency News
Outside of mortgage borrowing, consumers borrowed no additional consumer credit in July, according to Bank of England (BOE) figures, with the sum households paid back roughly equivalent to what they were loaned. The figures compare with an average of £1.2 billion of consumer credit borrowed per month in the two years to February 2020. Economists…
Read more
The Bank of England’s (BOE) latest Monthly Money and Credit data for July showed that individuals paid back £1.4 billion more of mortgage debt than they borrowed in the month. The net repayment followed record borrowing of £17.7 billion in June. The data showed that this was only the second such net repayment in a…
Read more
British business confidence reached its highest level in more than four years in August, according to a poll by Lloyds Bank. Lloyds’ monthly business barometer rose by 6 percentage points to +36%, the highest since April 2017, while optimism in the economy rose by six percentage points following a dip in July. More than a…
Read more
John van Kuffeler has announced that he is stepping down as Chief Executive Officer (CEO) of Non-Standard Finance (NSF) with immediate effect. Chief Finance Director (CFO) Jono Gillespie will succeed him. with a process is already underway to appoint a replacement Gillespie has almost 25 years’ experience in the non-standard consumer finance sector and has…
Read moreThe Melton Building Society has agreed on a partnership with TriLine GRC to embed an automated solution to improve corporate governance efficiency as well as provide concise and real-time reporting. The Society has historically used manual processes and spreadsheets to capture, manage and report on compliance, risk management and regulatory change across the business. The…
Read more
Scottish law firm, Alston Law has announced that it has appointed Joseph Bowie as Head of Lender Services. Alston Law’s 40-strong team is best known for its lender services, in particular remortgages and debt and asset recovery. It provides legal services almost exclusively to FCA-regulated companies in the financial sector where its specialisms include litigation…
Read more
Marston Holdings has introduced a new notice processing and enforcement service that will help councils to effectively enforce contraventions committed by foreign registered vehicles (FRVs) on British roads. The company says that these vehicles are more likely to contravene traffic and parking regulations than drivers of UK registered vehicles as well as being less likely to…
Read more
In 2016 In 2016 GB Energy ceased trading, transferring their 160,000 customers to Co-operative Energy. This was the first energy supplier exit in eight years. Since then, a total of 22 energy companies have gone bust affecting over 4 million domestic consumers, with Green Network Energy and Simplicity Energy joining the ever-growing list in January…
Read more