Target Group, the business process outsourcing and operational transformation provider, has today announced it has been selected by the BBC, following an EU procurement process, to deliver the ‘Simple Payment Plan’ (SPP). Target was awarded a two-year contract with an option to extend for up to a further two years. The Government introduced legislation in…
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Debt Purchaser Lowell has announced its latest results for its full year ended 31 December 2017. The results show double-digit growth across all key metrics. The addition of the Carve-out Business from Intrum as a new Nordic region, which successfully completed after the close of the period, brings further strategic diversification and growth opportunities for…
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The Credit Services Association (CSA) is concerned that new guidelines for debt advisors could keep customers in debt for longer by failing to reflect their true financial position, and in the worst case push them into unnecessary and potentially damaging insolvency. The CSA believes that the revised guidelines – presented by the Money Advice Service…
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The Credit Services Association (CSA), has announced the first of the major sponsors for the 2018 UK Credit and Collections Conference (UKCCC), which this year moves to Crowne Plaza, Stratford Upon Avon. Conexus Recovery and Field Services, which has clients across the banking, utilities, retail and debt purchasing sectors, is returning as a sponsor and…
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Sharon Donnelly, Deputy Governor, of Ireland’s Central Bank has highlighted the progress made to date in tackling non-performing loans (NPLs) in Ireland, though notes the significant complexity in dealing with the outstanding arrears cases. This comes in a signed article co-authored with Trevor Fitzpatrick, Darren Greaney, Fergal McCann and Mícheál O’Keeffe and published as part…
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Last year saw a return to growth in the loan sales market, with a total of €114 billion of real estate backed loan sales recorded during the year, according to the latest report by the global real estate advisor, CBRE. Despite being a record year for loan transactions, there are still circa €1 trillion of…
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Online research from TDX Group, an Equifax company, reveals that 45% of people think it’s too easy to get into debt, with a further 20% stating that banks and other lenders need to be stricter about the amount they lend to consumers. The survey, conducted with Gorkana, also highlighted that 68% of people think a…
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The Financial Conduct Authority (FCA) has published its business plan for 2018/19 which sets out the key priorities for the coming year. The FCA says the priorities in this year’s business plan reflect the high level of resource needed to dedicate to European Union (EU) withdrawal, given its impact both on our regulation and the…
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One in 10 consumers admit they’re bad with money, according to a study. Researchers polled 2,000 UK adults and, despite the age of austerity, found many are ‘blindly’ splashing the cash without any thought for the potential consequences. In fact, around one-fifth of the population went as far to describe themselves as ‘spenders’ rather than…
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New figures released by the Finance & Leasing Association (FLA) shows that growth has continued in the second charge lending market in February, compared with the same month in 2017. Commenting on the February 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance…
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New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market increased 7% by volume and 13% by value in February, compared with the same month in 2017. New business volumes in the POS consumer new car finance market fell by 2%…
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Following a detailed consultation and analysis, Account in Bankruptcy (AiB) has announced that it is recommending to Scottish Ministers that it introduces the Standard Financial Statement (SFS) for assessing the income and expenditure of debtors from October 2018. The Standard Financial Statement has been introduced across the UK as a unified method for assessing a debtor’s…
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The Government is to launch a call for evidence following concerns that a minority of bailiffs are still acting aggressively when collecting money from debtors –, particularly from vulnerable people. The call for evidence, which will be launched shortly, will look to those directly involved to share their experiences to help stop this in its…
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