Credit provider, Provident Financial said it has >continued to deliver results in line with its internal plans during the third quarter. Publishing its latest trading results, the firm says all three of its divisions are producing good business volumes and a stable impairment performance. However, it also says it is continuing to cut headcount at…

Here is an overview of The Money Charity’s latest statistics for October 2019: Personal debt in the UK People in the UK owed £1,650 billion at the end of August 2019. This is up from £1,604 billion at the end of August 2018, an extra £876 per UK adult over the year. The average total…

CashEuroNet UK’s owner Enova has announced that the UK arm of its business is to close. High-cost short term lender, CashEuroNet brands include QuickQuid and On Stride – a provider of longer-term, larger loans and previously known as Pounds to Pocket. Enova Chief Executive David Fisher said “Over the past several months, we worked with…

FundingSecure, a regulated Peer-to Peer (P2P) firm, has been placed into administration and has appointed CG Recovery as administrators. Funding Secure operates a P2P lending platform through a website facilitating crowdfunded loans which are used to fund the purchase and development of property, as well as pawn-broking style loans secured on items of value. In…

The Financial Conduct Authority (FCA) has published the complaints figures for regulated firms for the first half of 2019. The data showed an increase in complaints from 3.91m in the second half (H2) of 2018 to 4.29m for the first half (H1) of 2019. The increase in complaints was mainly driven by a 34% increase…

Consumer Credit Solutions (CCS) is celebrating 20 years supporting the home improvement industry and providing consumer finance to the sector.  The business began in 1999 as a partnership and is still owned and managed by its founders Andy Wallace and Peter Nicholson.  Since then CCS has grown into the UK’s leading independent finance facilitator working…

Home Credit lender, Morses Club has reported a strong financial performance in its latest interim results for the twenty-seven weeks ended 31st August 2019, The figures show Home Collected Credit (HCC) adjusted pre-tax profits were up 20.2% to £13.1m (H1 FY19: £10.9m). Group customer numbers have increased to about 276,000, compared to 230,000 for the first…

Ireland’ regulator the Central Bank has published a Prohibition Notice prohibiting Home Credit Ireland Executive Director Michael Kearns from performing any controlled function in all regulated financial service providers for a period of two years. Home Credit Ireland is authorised as a Moneylender under the Consumer Credit Act 1995 (as amended). Kearns failed to properly…

Here is an overview of The Money Charity’s latest statistics for September 2019: Personal debt in the UK People in the UK owed £1,647 billion at the end of July 2019. This is up from £1,600 billion at the end of July 2018, an extra £888 per UK adult over the year. The average total…

One of the largest guarantor lenders, UK Credit, has secured over £17.5 million in funding from Paragon. It is the latest deal for Paragon’s Structured Lending team, which has already provided over £130m of funding across a range of specialist lenders spanning consumer finance, point of sale funding, SME lending and property backed finance. Lewis…

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