European credit management Lowell, has announced positive quarterly results, for the period 1 January to 31 March 2019, showing the strong momentum carried over from 2018 with an income increase of 9%. Colin Storrar, CFO, said “I am pleased with the start we have made to the year.  These results are the natural progression of…

Financial wellbeing is deteriorating at its fastest pace since September 2017 despite a sustained rise in income from employment according to a new report IHS Markit. The report found that household finances were squeezed to the strongest extent since September 201 whilst workplace activity and incomes from employment continue to rise. The outlook towards future…

Tesco Bank has announced that it has ceased new mortgage lending and is actively exploring options to sell its existing mortgage portfolio, including the complete transfer of related balances and ongoing administration of relevant accounts. The Bank, which has offered mortgages since 2012, currently serves over 23,000 customers with total lending balances of £3.7billion. Gerry…

The average consumer doesn’t begin to worry about their debt until it hits £6,012, a new study has found. The research also revealed many only consider themselves to be ‘in debt’ once they are £3,882 in the red. But they only begin to see the deficit as a ‘serious concern’ when they owe more than…

People are at risk from fraudsters masquerading as enforcement agents (bailiffs) and small businesses are a popular target, according to the civil enforcement industry’s trade body Civil Enforcement Association (CIVEA). The warning comes after CIVEA identified cases of fraudsters using the government’s public register of enforcement agents to demand payments for bogus government debts. The…

The latest UK card stats reveal that the growth in credit card spending is down to 4.9% in February. In February 2018 the corresponding figure was 8.3%. However, the use of credit cards continues to increase as a payment method in the UK. There were 246 million transactions on cardholders’ credit cards in February 2019,…

The number and total value of small claims judgments in Northern Ireland dropped to record lows in the first quarter of 2019 compared to the same period the previous year, according to figures released by Registry Trust. There were 1,750 small claims judgments in the first three months of 2019, 22 percent fewer than in…

The Financial Ombudsman Service (FOS) has released its latest complaints data which shows that complaints against high-cost short term loan providers (payday lending) rose by 130% in March. High-cost short term lending complaints accounted for 39,715 of the new disputes. FOS said the surge of complaints in the sector contributed to a 14% rise in…

New figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q1 2019 was 24, 47.8% lower than in the first quarter of 2018. The rate of second charge mortgage repossessions (as a percentage of outstanding agreements) was 0.08% in the twelve months to March 2019.…

Three in ten (28%) consumers ran a ‘deficit budget’ in the past month, spending more during the month than they received in income, according to new research from R3, the insolvency trade body, and ComRes. One in six consumers (17%) spent up to £100 more than they received in income over the past month; 7%…

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