European credit management services specialist Lowell has announced strong collection performance and improving margins in its latest company results for the 3 months ending 31st March 2021. The company said collection performance has been very strong in the first quarter, performing at 112%. Cash flow continued to strengthen in the quarter with £121 million generated…

Debt purchaser Lowell has announced its full-year results for 2020 results which indicate that collections have continued to demonstrate resilience with cumulative performance against its December 19 static pool forecast improving to 94% in December 2020, up from 93% in September 2020. The results demonstrated that its cash EBITDA stayed at just under £500 million,…

The Government has announced that it has completed the £5 billion pound sale of the final chunk of its ‘bad bank’ comprising failed lenders Bradford & Bingley (B&B) and Northern Rock (NRAM0. The Government says that the final sale constitutes a significant milestone in the work to achieve the government’s objective of returning the institutions…

Credit management firm Intrum has achieved gold rating in an independent customer experience assessment for the seventh consecutive year by Investor in Customers (IIC). IIC has again given the business its highest gold standard for delivering ‘exceptional’ customer service, making Intrum the only business ever to achieve gold on first IIC assessment and maintain that…

Metro Bank is to purchase £384 million in loans from peer-to-peer investors through the RateSetter platform. All RateSettter peer-to-peer investors are to have their money repaid after the platform with Metro Bank is purchasing its remaining loan portfolio. The bank has been funding all new consumer lending on the platform following its acquisition of RateSetter…

Over two-fifths (44%) of UK adults who used a Buy Now Pay Later scheme (BNPL) to fund their Christmas shopping are now concerned about their ability to repay, according to the latest findings by comparethemarket.com. Worryingly, one-fifth (20%) are unable to meet these repayments without having to take on more debt, reflecting the concern that these…

Sales of non-performing loans (NPLs) hit a four-year low last year with €67.7bn sold, according to the Debtwire European NPLs FY20 Report. The Government supported disposals accounted for 60% of the total, the report found. The Cobid-19 crisis delayed portfolio sales as Europe went into lockdown, while agreements fell apart as the economic outlook deteriorated.…

Credit Connect Media has confirmed the date for its second Collections Technology Think Tank which will take place on Thursday 18th March. The event will focus on technological and innovational developments and strategies within collections. The Think Tank is a multi-session event that includes a diverse range of speakers and is set up so that…

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