The winners of the 2020 Credit & Collection Technology Awards have been announced following a live interactive virtual awards broadcast yesterday (Thursday 19th November). The awards are the flagship event for innovational technological professionals working in credit and collections and the fourth annual event honoured the UK’s technological innovators, celebrating outstanding achievement across nineteen hotly…

Average spending on credit cards has levelled after previous months’ increases, whilst rates of one missed payment fell according to new analysis by FICO. The analysis of card trends for September 2020, highlightedthe continuing impact of Covid-19 on household finances even while furlough and payment holidays remained in place during the month. Stacey West, principal…

Credit Connect Media will host a free live webinar on Tuesday 15th December which will showcase innovation in mobile collections technology. The webinar titled ‘Agile collections technology that’ll outlive the pandemic’ is the latest in the series of Credit Connect webinars which have looked at the latest thematic innovations enhancing collections strategy. The event partner…

Older homeowners are using their property wealth to clear debt and help family with nearly three-quarters of the £884 million released going to boost their finances and support relatives,  according to new analysis from equity release adviser, Key. Figures from the company’s Quarter 3 (Q3) Market monitor report highlight that the market has returned to…

Banks and building societies have agreed to allow six month mortgage holidays up until 31st July, 2021, with the industry agreeing the move with the Financial Conduct Authority (FCA). Lenders have committed to renewed support for mortgage customers facing financial difficulty as a result of the Covid-19 pandemic, as the Financial Conduct Authority (FCA) confirms…

Three-in-ten working-age consumers who have faced a sustained income hit during the pandemic are now unable to afford some basic household costs such as heating and fresh fruit and vegetables, as the persistence of the crisis exacerbates divides in how low- and high-income households are coping financially, according to new Resolution Foundation research. The Foundation’s…

One million UK freelancers have been pushed into debt since the pandemic hit, according to a report released by IPSE (the Association of Independent Professionals and the Self-Employed) and digital bank, Starling. The research, undertaken to assess the impact that COVID-19 has had on the UK’s self-employed, found that one in four (23%) freelancers have…

New figures from the Insolvency Service’s latest personal insolvency figures have risen by 60% in October 2020 when compared to September in England and Wales. Personal insolvencies increased to 11,939 in October 2020 compared to September’s figure of 7,458, and were higher than October 2019’s figure of 10,030. There were, on average, 6,154 IVAs registered…