Credit, Collections & Insolvency News
Maven Equity Finance part of the Northern Powerhouse Investment Fund (NPIF), has led a six-figure investment in AperidData. The announcement of the transaction will enable the business to embark on a programme of growth, expand its portfolio of customers, enter new markets and create up to 10 new jobs in the region. AperiData is an…
Read more
Debt charity, StepChange’s latest client data for April 2023 has revealed over a quarter of new clients (27%) cite the cost of living as their main reason for debt, up from 15% a year ago (April 2022). The new StepChange client data shows that after a year of inflated prices for gas and electricity, more…
Read more
Sentiment among British businesses declined in May, with firms concerned over the economy and their trading prospects. Lloyds Bank’s Business Barometer fell to 28% in May from 33% in April, marking the first decline in three months, while optimism over the economy fell by six points to 22%. Confidence levels remain in line with the…
Read more
The Financial Conduct Authority (FCA) has announced a ban on referral fees for debt packager firms. The ban applies to all new debt packager firms and will come into play for existing firms in October 2023, and follows a review that found evidence of debt packagers appearing to manipulate customers’ details so that they meet…
Read more
Figures from the Bank of England (BoE) show this was down from the 51,500 approvals in March and indicates the market is again declining after two months of slim growth. However the number of approvals for remortgaging increased slightly, from 32,200 to 32,500 during the same period. Overall the value of this net mortgage debt…
Read more
Experian has announced a partnership with IDVerse which support its customer’s digital onboarding and expand its digital footprint across the globe. Experian says that by working with IDVerse, it will allow its entire customer base to carry out identity verification checks as part of the customer journey. It also enables Experian to widen its partner ecosystem,…
Read more
European credit management services specialist, Lowell has announced its quarterly results for the 3 months ended 31st March 2023. Collection performance in line with forecast at 100% of Dec-22 static pool. Record £661m LTM Cash EBTIDA delivering 24% LTM growth. Cash EBTIDA growth of £128m YoY with collections in the quarter delivered in line with our…
Read more
Time Finance has announced it has appointed Matthew Ridgley to the team as Asset Manager. Ridgley joins with 17 years’ experience in the industry, having started his career in asset management roles at Bank of Scotland and Siemens Financial Services before moving into a sub hire auditor role at Lombard Asset Finance. In his most…
Read more