Research by The Royal London National Funeral Cost Index 2017 reveals funeral debt has also risen to £160 million. One in six (16%) said they struggled with funeral costs, with people taking on an average debt of £1,680. Amongst those who struggled, one in four said they borrowed money from family and friends (26%) and…
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Research by Citizens Advice has found that nearly 1 in 5 people struggling with debts have had their credit card limit raised without them requesting it, a practice the charity would like to see banned. After the Bank of England issued a warning to lenders about how they are granting credit to consumers, Citizens Advice…
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Cabot Credit Management (CCM), a market leader in European credit management services has announced the financial results for the six months ended 30 June 2017. Ken Stannard, Chief Executive Officer, CCM said “Cabot continued to deliver on its track record of consistent growth with a strong start to 2017. Our Adjusted EBITDA for the first…
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Debt Purchaser, Cabot Credit Management has entered into an agreement to acquire FCA-authorised Wescot, a leading UK contingency debt collection and business process outsourcing (BPO) services business. The acquisition is Cabot’s second this year, in the UK following the investment in Orbit Services, a specialist in the public utilities debt servicing market. In total Cabot has…
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The cost of running a home now almost half household income according to research by MORE TH>N as part of its second annual ‘Cost of Running a Home’ report. The study found that owning a three-bedroom home in the UK comes with average annual running costs of £18,197 (£1,516 per month), with rented three bedroom homes…
Read moreHoist Finance has announced that Najib Nathoo, Regional Director West Europe, will leave. Nathoo has worked with the company since 2012 and been a member of Hoist Finance Executive Management Team since 2015. Jörgen Olsson, CEO Hoist Finance said “Najib has played an important role in the evolution of Hoist Finance over the years, from…
Read moreDeceased account management specialist, Phillips & Cohen Associates has appointed Bob Bednar as SVP Consumer Communication & Digital Strategy. Echoing the theme of the recent CFPB guidance on consumer contact strategies, the group has appointed Bednar to lead its digital innovation agenda. Mr. Bednar is a recognized consumer communications & marketing specialist with over 20…
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Lowell has announced changes to its Group Executive team. Current Group Chief Risk Officer, Sara de Tute, has been appointed to the UK Board as a new Non-Executive Director (NED), she will be succeeded by Laurence Bogni-Bartholmé, who joins the Group from Wells Fargo. After five years with Lowell, current Group CRO, Sara de Tute,…
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New figures released by the Finance & Leasing Association (FLA) show growth of 7% in consumer finance new business in June, compared with the same month last year, and growth of 4% in the second quarter of 2017 overall. Credit card and personal loan new business together grew by 10% compared with June 2016, while…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that the second charge mortgage growth continued in June. Commenting on the June 2017 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “In June, the second charge…
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Complaints about consumer credit including payday loans and hire purchase showed a rise in the second quarter according to latest statistics released by the Financial Ombudsman Service (FOS). Consumer credit complaints totalled 7,281 in the three months to June 30, up from 5,846 in the same period last year. Payday loans, which provide short-term credit at…
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The number of mortgages in arrears of 2.5% or more of the outstanding balance declined to 88,200 in the second quarter of this year, the lowest level since at least 1994 when this run of data began. The total was 5% lower than in the first quarter (92,600) and amounted to 0.8% of the more…
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Lowell has announced that it has delivered a quarter of strong growth in the Q2 period, 1 April to 30 June 2017. Lowell says operationally, these results have been underpinned by the continued commitment to people, strong governance, process improvement and extensive data capabilities. Financial Highlights 28% y-o-y increase in Cash Income to £143m 18%…
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