Credit, Collections & Insolvency News
Latest Bank of England Money and Credit data has shown credit borrowing by individuals was £1.2 billion in September, down from £1.4 billion in the previous month. Commenting on the date Tom Cuppello, Director, Risk at Broadstone said “Consumer confidence has suffered in the run up to the Budget which appears to have hit borrowing…
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Latest Bank of England Money and Credit data has shown that mortgage approvals increased in September for the fourth consecutive month. Net mortgage approvals for house purchases rose from 56,100 in January, to 60,400 in February. Net approvals for remortgaging also increased, from 30,900 to 37,700 during this period. Individuals borrowed, on net, £1.5 billion…
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Professional services firm Begbies Traynor has appointed insolvency specialist Kevin Mapstone as a Director based at its Edinburgh office. With over 25 years’ experience in financial services, Mapstone joins from an insolvency firm in Paisley where he spent almost four years as an Insolvency Practitioner, having previously worked for a number of other firms, including…
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Deceased account care management and technology specialist Phillips & Cohen Associates (PCA) has announced that it has appointed Chris Lagow as its new Global General Counsel. Lagow brings over two decades of legal and corporate governance expertise. He has a distinguished career advising companies across the financial services sector, both in-house and at law firms.…
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New data has revealed a significant increase in debt levels for those approaching or in retirement, with the average debt for ‘baby boomers’ climbing by over 11% in the third quarter of 2024. In comparison to the previous year, boomers’ average debt levels now stand at an average of £19,571. The average debt levels across…
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PayPoint has announced a partnership with Leeds Credit Union (LCU) which enables their 37,000 members to its CashOut service. The partnership will mean that LCU customers can access their cash and savings across any of PayPoint’s UK network of 29,000 retailer partners. Jo Toolan, Managing Director of Payments, PayPoint said “Our partnership with Leeds Credit…
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Invoice finance company, eCapital Commercial Finance has acquired Optimum SME Finance. David Tilling, CEO of Capital said “We are thrilled to welcome Optimum’s clients and team as part of our ambitious growth strategy. This acquisition broadens our national reach with a new regional presence in Bristol and reinforces our commitment to becoming the premier, fully…
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