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…

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…

Latest figures from the Financial Ombudsman Service (FOS) have indicated that there was a surge in complaints about consumer credit services in the three months to September, with claims management companies said to have driven a big rise in complaints being upheld. FOS says that between July and September 2020, there was a continued increase…

New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell in September 2020 by 5% compared with the same month in 2019, and contracted by 19% in the nine months to September 2020. Consumer car finance new business by value grew in September by 11% compared with the…

New figures released by the Finance & Leasing Association (FLA) show that the consumer car finance market reported growth in new business volumes of 7% in September 2020 compared with the same month in 2019.  In the first nine months of 2020, new business volumes in this market were 22% lower than in the same…

The Financial Conduct Authority (FCA) has announced proposals for further support to consumer credit borrowers impacted by coronavirus. In September, the Financial Conduct Authority (FCA) announced tailored support for borrowers affected by coronavirus (Covid-19) after 31st October, which it would keep under review as the pandemic evolved. As a result of increasing restrictions announced in…

The Financial Conduct Authority (FCA) is expected to announce more details of an extension to the mortgage holiday scheme, with the initiative originally set to have expired on Saturday (31st October) but extended due to the national lockdown announced for England at the weekend. The FCA has already said that those who have yet to…

The Government should commission a full review of the debt options available to people in financial difficulty in England and Wales, according to a new briefing from the Money Advice Trust. The charity says that action is needed to provide ‘robust and effective debt options that work within the new context of Covid-19’ – with…

Here is an overview of The Money Charity’s latest statistics for October 2020 Personal debt in the UK People in the UK owed £1,684 billion at the end of August 2020. The average total debt per household, including mortgages, was £60,526 and per adult was £31,972, around 111.5% of average earnings. Net mortgage lending rose by…

Finance experts TotallyMoney have warned that those experiencing financial hurt due to coronavirus could see their credit scores suffer for six years as protections are taken away for over quarter of a million people still on payment holidays. A blanket end on 31st October to granting payment holidays on mortgages, credit cards, loans, and overdrafts…

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