26th October 2022 - Credit Connect

Difference between good credit score and poor credit score can be thousands

26th October 2022 Consumer Lending | #credit score

New research by TotallyMoney has investigated the gap in personal loan interest rates for those with poor credit scores. The research found that someone with a poor credit record borrowing £5,000 over 3 years might find themselves paying an extra £116.36 per month compared with a low-rate best buy deal. Similarly, a borrower with a…

Prepayment meter numbers rise for the first time since 2019

26th October 2022 Arrears and Recoveries | #energy debt

Uswitch is calling on the Government to ensure that prepayment meter customers at risk of self-disconnection are considered the highest priority for additional support beyond April 2023. Uswitch says that the energy crisis has reversed a long-term trend for falling numbers of prepayment meters, putting thousands more households at risk of self-disconnection. From the middle of…

Time Finance appoints Head of Relationship Management

26th October 2022 Appointments |

Time Finance has announced the appointment of Kevin Howard to Head of Relationship Management in its Invoice Finance Southern team. Howard will join the newly opened Reading office to oversee and manage its relationship management team. Howard brings over 20 years’ experience to the role having built a credible career in relationship and risk management…

Duty calls

26th October 2022 Industry opinion |

Lenders should be wary if their back office is not making the most optimal lending decisions in the light of upcoming Consumer Duty rules. At an industry event earlier this month I overheard someone call the FCA’s looming Consumer Duty standards ‘Treating Customers Fairly on steroids’. There can’t be many in the industry who won’t…

Three quarters of consumers have changed their credit card habits

26th October 2022 Consumer Lending | #credit card

A new study from Forbes Advisor has revealed that nearly three-quarters (74%) of British credit card holders are being forced to change their credit card usage amid crippling inflation. Within the survey, respondents were asked specifically how the cost of living crisis affected their credit card activity. In total, more than half (57%) claimed that…

Water company and Settld agree support partnership for bereaved and vulnerable customers

26th October 2022 Arrears and Recoveries |

Portsmouth Water has announced a new strategic partnership with the nationwide bereavement service Settld. Settld will streamline end-of-life account administration for those handling the affairs of a Portsmouth Water customer who has died. The partnership has also initiated a new support service for the water company’s vulnerable customers. Bereaved individuals who use Settld’s form to…

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