Credit, Collections & Insolvency News
A new study by Experian has found that the cost of living crisis is significantly impacting people’s home improvement plans. The research found the majority of UK homeowners (67%), are planning a renovation in 2022. Average planned spend is £6,959, with around 50% intending to spend £2,500 or less. Just one in ten (9%) are…
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LendingMetrics has announced that it has launched a new SaaS platform called DeeJoop. The data specialist’s DeeJoop platform, which is set to be used by lenders for the first time this week, distills credit risk data from multiple bureaus to produce a ‘net’ credit file for consumers. Using proprietary algorithms, it interrogates the large quantity…
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IE Hub has announced that Mark Thundercliffe will be joining the business as Chairman of the Board. Thundercliffe joins the team with over 34 years of experience in corporate, retail, and business banking. He has built and developed dynamic financial services companies, products, customer propositions, and distribution capabilities in both developed & emerging markets. IE…
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Research HBB Solutions, has indicated that South East has the most repossessed homes and the high cost of homeownership in the region could see it cement its place as the nation’s repossession hotspot, as rising inflation and interest rates pose further economic instability for the year ahead. Previous research by HBB Solutions revealed that the…
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Latest Bank of England data has indicated that credit card borrowing is rising at its fastest annual rate in 17 years. The annual growth rate for credit card borrowing hit 11.6% in April – the highest figure since November 2005. The figures also reveal that the rate for all consumer credit increased to 5.7% in…
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Businesses are increasingly confident that they can use high inflation to rebuild their margins, the monthly barometer by Lloyds Bank has found. Confidence among firms has risen by five points on the index to reach 38%, significantly higher than the long-term average of 28%. This marks the first increase since Russia launched its invasion of…
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Three-quarters of SMEs are worried about the long-term impact the cost of living crisis, soaring energy bills and rising inflation. Barclays’ SME Barometer, a quarterly survey of business sentiment, saw 51% say they were concerned that surging prices would dent consumer spending, while more than a quarter said they feared that having to increase their…
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New analytics from Fico has found that the percentage of credit card accounts with one and two months missed payments has increased month-on-month with it appearing that repayments remain a priority for credit card holders, suggesting that there will be greater reliance on credit over the coming months as the cost-of-living crisis deepens due to…
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The Credit Services Association, the trade association for the debt collection & purchase sector, has launched its annual Membership Awards which is part of the Association’s annual conference – the UK Credit and Collections Conference (UKCCC). The awards are being held on Thursday 15th September at Radisson Blu, Manchester Airport, and will celebrate the outstanding…
Read moreHere is an overview of The Money Charity’s latest statistics for May 2022 Personal debt in the UK People in the UK owed £1,781.7 billion at the end of March 2022. The average total debt per household, including mortgages, was £64,107 and per adult was £33,686, around 108.0% of average earnings. Net mortgage lending rose by…
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