Credit, Collections & Insolvency News
Buy now, pay later (BNPL) firm, Laybuy, has collapsed into administration. Laybuy’s UK arm, with around 300,000 customers, has appointed administrators at FTI Consulting. Aound 10,500 shops and businesses let shoppers pay with Laybuy, around 2,600 in the UK. Laybuy has around 29 employees in the UK. The company is no longer accepting new transactions…
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New research commissioned through YouGov by StepChange Debt Charity of UK adults (of whom 186 live in Scotland) shows that one in four adults (24%) in Scotland have used a form of credit to pay for essentials (groceries, utilities, housing) in the past three months, while one in five (19%) adults in Scotland have borrowed…
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Interest-only homeowner mortgages fell by 5.4% to 664,000 last year compared to 12 months before, the latest data from UK Finance has revealed. The data showed that there were 200,000 partial interest-only (part and part) homeowner mortgages outstanding at the end of 2023, 9.9 per cent fewer than in 2022. The total interest-only mortgage stock…
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April Mortgages has announced that it has appointed Mark Eaton as Chief Operating Officer as it continues its mission to deliver greater peace of mind to the mortgage market. Eatonas played a central role to date in April Mortgages’ launch, bringing 5-15 year fixed rate mortgages into the UK mortgage market, and providing new levels…
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New research from Experian has today revealed that eight in ten (83%) british businesses acknowledge data governance should no longer be an afterthought and can give them a strategic advantage. A further 86% agreed that data governance will become more important over the next five years. With AI changing the way businesses are run and…
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The removal of the £90 debt relief order (DRO) administration fee in April has already had a significant impact on the number of financially vulnerable people applying for support according to Money Wellness, one of two commissioned DRO hubs in England. The debt sepcialist says that it has seen a 50% increase in applications in…
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Experian and Virgin Money has announced a strategic partnership to enhance Virgin Money’s digital customer experience by leveraging its suite of cloud-based technology. The partnership will see Virgin Money use Experian’s full breadth of services including credit and lending, fraud prevention, analytics, governance, and compliance as well as marketing services across all their product lines.…
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New research from GBG has revealed 81% of European businesses believe cross-sector collaboration and intelligence sharing is key to stemming the rising tide of fraudulent criminal activity. The findings are part of GBG’s new Global Fraud Report 2024 which surveyed businesses in the UK, France, Germany, and Spain in financial services, fintech, crypto, banking, retail…
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