Credit, Collections & Insolvency News
New research by HL Savings and Resilience Barometer, in partnership with Oxford Economics, has found that higher earners have more debt than any other income group and they also have more debt as a percentage of their income. Higher earners also have a bigger proportion of their debt on variable rates than people on lower incomes.…
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Collections specialist, DebtStream has announced that it has raised £1.1 million of funding with the aim of revolutionising collections experience. The company has raised £1.1 million led by Ascension’s Fair By Design Fund, with participation from Fin Venture Capital, a US fund focused on B2B SaaS. A number of angels also participated in the round…
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A collective of industry experts from across the consumer credit, debt advice, collections, insolvency, and fintech sectors have joined together to launch ‘debt-tech’ firm Trustfolio which has acquired TIPTrust and Asperitas Technologies. Trustfolio’s mission is to enable better debt solutions and advice through powerful, bespoke technology that makes the process more efficient, cost-effective, and secure…
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Data from Konica Minolta has revealed that around one in nine (90% ) of SME businesses are risking significant fines and reputational damage due to potentially fatal weaknesses in their IT and data management and compliance. The data security vulnerabilities varied from data protection issues (such as insecure storage of financial details) to unsecured personal…
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New data shows victim-survivors of economic abuse are left with long-lasting harm have an average coerced banking debt of £4,607 and 83% with low financial knowledge and confidence. Charity, Surviving Economic Abuse (SEA) has revealed new data showing that victim-survivors of economic abuse are left without the support they need to escape an abuser and…
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Household bills fell marginally over 2021, with annual costs falling by £37 during the past 12 months, according to new data from comparethemarket.com. This new research which analyses the cost of energy, home, and motor insurance, based on comparethemarket.com’s switching data, shows that household bills were cheaper last year than the two years prior. A typical…
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Specialist asset-based lender, Time Finance has announced that they have appointed Steve Nichols as Director of Asset Finance. Nichols assumes overall responsibility for the operation and performance of Asset Finance for the business and will become a member of the Operating Board. Nicols succeeds Carol Roberts as part of a planned progression and the two…
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