With the implementation date just over a year away, there is still a lot of conjecture surrounding the impending General Data Protection Regulation (GDPR), particularly around its appropriateness and applicability once the UK leaves the EU. One thing that is clear, however, is that now is the time for any firm handling personal data to…

Intrum Justitia has entered into an agreement to acquire Top Factoring, one of the leading companies for purchased debt in Romania. The purchase price on a cash and debt free basis (enterprise value) is about EUR 25 million, attributable mainly to a diversified portfolio of receivables. Top Factoring has about 210 employees, primarily involved in…

Bradford & Bingley plc (B&B), part of UK Asset Resolution (UKAR), today confirms that following an open and competitive process it has agreed to sell two separate asset portfolios comprising performing buy to let loans for a total of £11.8bn to Prudential plc and to funds managed by Blackstone. Financial completion is expected within the…

The National Audit Office (NAO) has published the findings of its investigation into the Department for Work & Pensions’ closure of its 1993 and 2003 child maintenance schemes. The 1993 and 2003 ‘Child Support Agency’ schemes struggled with IT problems leading to poor customer service, backlogs and incomplete information about amounts due.  Inaccurate assessments can…

The HMRC spend on private sector debt collection agencies to chase people who have fallen behind on their tax bills has jumped by 92% in just one year to £24 million according to latest figures released by UHY Hacker Young. This is compared to a spend of £12.5 million on private sector debt collection agencies…

Target Group has signed a deal to supply its Bluechip Web Portal to Bridging Finance Solutions (BFS), the short-term property finance provider. To further improve processing efficiencies BFS panel solicitors will have access to their allocated cases via the portal and will be able to upload documentation and leave case notes, which updates the Bluechip…

The Finance & Leasing Association (FLA) and The UK Cards Association are today launching a new publication – Vulnerability; a guide for debt collection – that will help their members to better identify and support customers in vulnerable circumstances. Both trade associations worked in partnership with the University of Bristol’s Personal Finance Research Centre (PFRC)…

Today sees the launch of the new Standard Financial Statement (SFS), an initiative designed to bring greater consistency to the way organisations assess people’s finances when they are in debt. The SFS, the launch of which has been co-ordinated by the Money Advice Service, will be adopted by all major debt advice providers across commercial and…

Debt buyer Experto Credite has entered into liquidation, The company entered voluntary liquidation on November 24. Smith & Williamson, were appointed as jlquidators for the winding up process. Debts are believed to be owed to HSBC, Natwest, Virgin Media, Vodafone and Intrum Justitia. No further details are available at this stage.