Here is an overview of The Money Charity’s latest statistics for October 2017: Personal debt in the UK People in the UK owed £1.554 trillion at the end of August 2017. This is up from £1.5 trillion at the end of July 2016 – an extra £1029.82 per UK adult. Per adult in the UK that’s an average debt…

Arrow Global has announced that Rob Memmott, who has been in the business for six years, has decided to step down as Group Chief Financial Officer (CFO).Paul Cooper, currently CFO of the international insurance business Sompo Paul Cooper, currently CFO of the international insurance business Sompo Canopius, will replace Rob as Group CFO and will…

Over the past year, UK consumers’ unsecured debt, amassed primarily on credit cards, student loans, car financing and overdrafts, has reached an all-time high of close to £300bn, or £11,000 per household, growing at a faster rate than at any time in the past 15 years, According a new PwC analysis report. As evidence of…

The Financial Conduct Authority’s (FCA) has warned of a pronounced build-up of debt among young people. In an interview with the BBC, FCA Chief Andrew Bailey has highlighted the ‘growing debt burden’ on young people. The warning, which follows a tour of visits by Andrew Bailey to debt charities including National Debtline, coincides with new…

Swedish debt purchaser DDM Debt AB has announced that it has finalised the previously announced acquisition of a distressed asset portfolio containing secured corporate receivables in Croatia from a leading international bank. DDM has received the approval from the Croatian National Bank and has now finalised the acquisition. The investment amounts to approximately€21 million. The…

MMF has announced the acquisition of a majority interest in Motormile Finance (MMF) by Copper Street One (an entity of Copper Street Capital LLP, a UK based specialist financial services investment firm).   In a statement, MMF said that the acquisition marks a significant moment in the company’s history and validates the success it has…

Ofgem has announced that around one million households will save £120 a year on average when it extends its prepayment safeguard tariff for more vulnerable people this winter. Ofgem will also work on extending price protection to at least a further 2 million vulnerable households for winter next year once the timing of the Government’s price cap…

Intrum has entered into an agreement to acquire a non-performing loan portfolio from Eurobank, one of the four Greek banks considered as critical for the stability of the Greek economy, for a total investment of approximately SEK 0.4 bn. The portfolio consists of well diversified unsecured consumer loans. Servicing of the portfolio will be outsourced…

The European Central Bank (ECB) plans to ask euro area banks to set aside more cash to cover bad loans, making it prohibitively expensive for lenders to keep sitting on them, a draft proposal seen by Reuters showed on Tuesday. Soured loans are clogging up bank balance sheets and holding back lending – a headache…

The merger of Intrum Justitia and Lindorff was completed in June and following from the announcement the company has consolidated the two companies by introducing a new corporate identity and brand name: Intrum. Mikael Ericson CEO and President of Intrum said ”Intrum is the undisputed market leader. This presents new opportunities for growth through joined…

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