Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) indicated that second charge mortgage new business volumes grew by 36% in December and by 44% in 2021. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance &…
Read more
New figures released by the Finance & Leasing Association (FLA) show that the consumer car finance market reported new business volumes up in December 2021 by 2% compared with the same month in 2020. In 2021 as a whole, new business volumes grew by 9% compared with 2020 to almost 2.1 million cars financed, but…
Read more
New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell in December 2021 by 2% compared with the same month in 2020. In 2021 as a whole, new business grew by 14% compared with 2020 to £31.3 billion but remained 12% lower…
Read more
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 16% in December 2021 compared with the same month in 2020. In 2021 as a whole, new business grew by 15% compared with 2020, but remained 4% lower than in 2019. The credit card and personal loan…
Read more
The Money and Pensions Service (MaPS) has announced significant changes to its plans for the commissioning of debt advice services, with funding allocated to vital face to face services being increased by 50% (to £30 million). In December 2021, it announced changes in the timeline for awarding the contracts for the National Services, Business Debt…
Read more
A Public Accounts Committee (PAC) report has warned that HMRC’s ‘unambitious’ plans for recovering £6 billion in Covid-19 support payments that were paid out through fraud or mistakes could lead to the Government writing off a large sum of taxpayers’ money. In the report, Parliament’s cross-party Public Accounts Committee says that HMRC’s unambitious plans” for…
Read more
Qualco has announced that it has received authorisation from the Financial Conduct Authority (FCA). Commenting on the development, Managing Director Christian Jacob said “We are pleased to have gained our authorisation from the Financial Conduct Authority. The UK is recognised globally as having some of the most stringent financial regulations and it is great we…
Read more
Around 1.1 million households (5%) are struggling to afford their home broadband service according to new research by Ofcom. The number of households struggling rises to around one in ten among the lowest-income household with affordability problems likely to worsen in 2022 due to retail price increases and the wider squeeze on household finances, putting…
Read more