14th March 2022 - Credit Connect

Secure Trust Bank to exit debt purchase sector

14th March 2022 Company News | #debt sale

Secure Trust Bank (STB’) has announced that it has decided to exit the debt purchase market. STB subsidiary, Debt Managers (Services) (DMS’, has agreed to sell its portfolio of loans to debt purchaser, Intrum UK. The portfolio comprises around 650,000 customer loans acquired from third parties and STB. Intrum will acquire the rights of DMS…

Asset Finance market grew by 11% in January 2022

14th March 2022 Asset Finance | #asset finance

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in January 2022 by 11% compared with the same month in 2021. In the twelve months to January 2022, new business grew by 16% compared with the same period in 2021. The…

Consumer car finance new business volumes increase by 43%

14th March 2022 Consumer Lending | #motor finance

New figures released by the Finance & Leasing Association (FLA) show that the consumer car finance market reported new business volumes up in January 2022 by 43% compared with the same month in 2021. The corresponding value of new business increased by 60% over the same period. In the twelve months to January 2022, new…

Second charge mortgage new business volumes grow by 57%

14th March 2022 Arrears and Recoveries | #second charge mortgages

New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grow by 57% in January 2022. 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 & Leasing Association (FLA), said…

Consumer finance new business grew by 51% in January

14th March 2022 Alternative Consumer Lending | #consumer credit

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 51% in January 2022 compared with the same month in 2021. In the twelve months to January 2022, new business grew by 23% compared with the same period in 2021. The credit card and personal loan sectors…

Third of people say their retirement savings are a cause of ‘significant stress’

14th March 2022 Debt Management and Advice |

A third of people say their retirement savings are a cause of ‘significant stress’ according to new research by NerdWallet, The research found that 34% consider their retirement finances to be a source of significant stress, with only 37% saying they have a clear retirement savings strategy. On average, employees said they save £298 into…

Fuel stress set to impact one in four older households

14th March 2022 Consumer Collections | #energy debt

Charity, Age UK has joined the call for the Chancellor to do more to help older people through the energy price crisis. The charity says that nearly a quarter (24 per cent) of older households in England will be in fuel stress when energy prices go up from 1st April, this is up from just…

Local Authorities sign up to new creditor debt solutions platform

14th March 2022 Company News |

Southwark Council and Birmingham City Council will soon be the first two Local Authorities to use ‘debt-tech’ firm Trustfolio’s new Creditor Portal with both aiming to go live in April 2022. The Platform, developed by a collective of experts from across the credit, collections, advice, insolvency and related sectors, uses the latest fintech to enable…

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