Provident Financial says its credit card business, Vanquis Bank, performed “modestly above expectations” in the fourth quarter, adding that it expects to report full-year results in line with market expectations. The company also said that its consumer credit division also had delivered results in line with its plans. Consistent with the group’s strategy set out…

New statistics from Comparethemarket.com have revealed the financial consequences of ‘Buy Now, Pay Later’ schemes. The survey of over 2,000 UK adults indicates that over two million UK adults who have used ‘Buy Now, Pay Later’ schemes (BNPL) have had their credit scores damaged by using these payment schemes, as national levels of consumer debt continue…

Consumer Credit Solutions (CCS) has announced the appointment of Colin Macpherson as Business Development Manager.  He has taken on account management responsibility for home improvement retailers across Scotland. Macpherson has over 40 years’ experience in consumer finance, working mainly for American-owned UK banks specialising in unsecured point-of-sale credit.  More recently Macpherson has gained experience in…

Credit Connect Media will host its first free live webinar in February. The webinar titled “How to accelerate effective collections with digital transformation” will be the first of a series of webinars looking at the latest thematic innovations enhancing collections strategy. The first partner for the webinar will be Lightico, winner of the Contact Centre…

Here is an overview of The Money Charity’s latest statistics for December 2019: Personal debt in the UK People in the UK owed £1,665 billion at the end of October 2019. The average total debt per household, including mortgages, was £59,840 and per adult was £31,569, around 111.7% of average earnings. Net mortgage lending rose…

Chris Laverty, Trevor O’Sullivan and Helen Dale of Grant Thornton UK LLP have been appointed as joint administrators of high-cost short term lender MMP Financial. The brand was also known as My Money Partner and Swift Sterling. A company statement company website confirmed that the administrators had been appointed and that they were no longer…

Amigo has announced a number of changes to the board including the appointment of new non-executive Directors, the Chairman of the Board and the Chair of the Remuneration Committee standing down through an orderly process and the resignation of the CEO. The Richmond Group Ltd has notified the Company of its intention to exercise its…

Provident Financial has announced the appointment of Neeraj Kapur as Chief Finance Officer (CFO). Kapur will join the board and start as Chief Finance Officer on 1st April 2020. Kapur is currently Group Chief Financial Officer at Secure Trust Bank plc. He has a strong retail banking background, including consumer finance and savings products expertise.…

DJS (UK) trading as PiggyBank has entered administration. The company provided high-cost short term (payday) lending services to the UK consumer market. The company is thought to have had around 45,000 customers and was seen as one of the UK’s top 10 largest payday lenders. Shane Biddlecombe and Gordon Johnston of HJS have been appointed…

The Financial Conduct Authority (FCA) has confirmed that Active Securities trading as 247 Moneybox, have been placed into administration. Active Securities a high-cost short term lender (payday lender). In a statement that appears on the website, the company said that all existing loan agreements remain in place and will not be affected by the proposed…

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