Credit, Collections & Insolvency News
Regulation of Buy Now Pay Later (BNPL) credit retail products could prevent up to 876,000 consumers from getting into unmanageable debt this year, according to new research from Barclays and StepChange. The study shows that the rising cost of living is having a direct impact on the popularity of BNPL purchases – over a third…
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The Financial Conduct Authority (FCA) is using state-of-the-art analytics to scan 100,000 websites a day in a crackdown on scams and fraud. Although the watchdog cannot remove fraudulent sites, it has added almost 2,000 possible scams to its consumer warning list since May 2021- up a third more than during the same time the previous…
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Scammers are attempting to exploit the cost of living crisis by targeting consumers whose energy supplier has collapsed, according to new analysis by Which? Former customers of bust suppliers including Solarplicity, Future Energy and Northumbria Energy have been singled out by fraudsters attempting to exploit the confusion caused by the companies’ failures. In the first…
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Two connected companies have been wound-up in court after they abused multiple local authorities to receive covid support loans worth £85,000 they weren’t entitled to. Momz Love Limited and Unique Homes Lettings were wound-up in the High Court in the public interest and the Official Receiver was appointed the Liquidator of the companies. The court…
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Global information and insights company, TransUnion has announced a partnership with Lloyds Bank to look after the credit health of its customers with free access to their credit score via an interactive dashboard. The ‘Your Credit Score’ service, has already seen almost one million of the bank’s customers checking their credit score for the first time in April. Kelli…
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Aryza has announced plans to launch in North America with the appointment of a new Chief Executive Officer (CEO) in the region. Brent Reuter has been appointed as the new CEO to support the launch. Reuter has worked in the financial industry for more than 25 years and led First Data in Canada growing their…
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Free debt advice provider, PayPlan, has launched a new partnership with the National Bereavement Service (NBS) to provide practical, emotional and financial support to those who have experienced the death of someone close to them. Through its new partnership, PayPlan clients dealing with grief or bereavement will have access to a dedicated NBS bereavement helpline…
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A new report from the Centre for Social Justice supported by Lowell has revealed thedire state of financial literacy in Britain and recommends compulsory money management lessons for primary school students. The report finds that lack of financial knowledge among children is posing unprecedented risks with nearly 14 million adults with experience of financial problems…
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