Cabot Credit Management has announced that it is working closely with The Domestic and Economic Abuse Project (DEAP) set up by Money Advice Plus and Surviving Economic Abuse charities, to strengthen its understanding of its customers who are victims of domestic and economic abuse. DEAP aims to build the capacity of organisations that are in…

The Co-chair of the All-Party Parliamentary Group on Fair Business Banking (APPG) has called on regulators to protect consumers and small businesses by banning the sale of debt to unregulated and inactive lenders. Charlie Elphicke MP and Martin Whitfield MP co-sponsored a main chamber debate entitled ‘Mortgage Prisoners and Vulture Funds’ which acknowledged that the…

Debt Purchaser, Cabot Credit Management has announced that its 100% indirectly owned subsidiary Cabot Financial (Luxembourg) II S.A. had priced an offering of €400 million aggregate principal amount of Senior Secured Floating Rate Notes due 2024 with a coupon of 6.375% plus three-month EURIBOR (subject to a 0% floor), reset quarterly, in a private placement…

UK Asset Resolution (UKAR) has announced that it has now repaid its £48.7 billion taxpayer loan. The loan was not expected to be repaid until the mid-2020s but has been able to do so more quickly by selling off packages of loans to private equity buyers. UKAR which incorporates Bradford & Bingley was created in October…

Intrum has announced that has reached an agreement with Piraeus Bank to acquire it’s Recovery Management Services platform; Recovery Banking Unit. The Unit will be hived-down into a separate legal entity, valued at €410m, which will be fully consolidated by Intrum. Intrum will acquire 80 per cent of the shares in the new company corresponding…

An independent report says urgent action is required by all energy companies, regulators and government as well as price comparison websites (PCWs) – with support from consumer groups and charities – to better identify customers in vulnerable circumstances and improve the help and support given to them. The report by the Commission for Customers in…

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…

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…

Debt purchaser, Cabot Credit Management has announced its latest financial results for three months ending 31st March 2019. Cabot’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) show a 13% improvement whilst collections is performing at 101% of prior ERC forecasts. Ken Stannard, Chief Executive Officer, Cabot Credit Management, said “Cabot has continued to…

Debt purchaser Arrow Global has announced its results for the three months ended 31st March 2019 which indicate Arrow’s income grew to £86.6m in the first quarter, up from £77.1m in the corresponding period in 2018. Whilst Core collections increased by 22.7% to £105.5 million (Q1 2018: £86.0 million) Commenting on the results, Lee Rochford,…

1 2 3 28