The European Central Bank (ECB) will allow European banks to set their own targets for cutting the €900 billion of bad loans left over from the financial crisis. New guidance will require banks to set their own targets for the levels on non-performing loans (NPL), with only “significant” deviations triggering regulatory action. Sharon Donnery, the Irish…
Read moreHere is an overview of The Money Charity’s latest statistics for September 2016: Personal Debt in the UK People in the UK owed £1.496 trillion at the end of July 2016. This is up from £1.444 trillion at the end of July 2015 – an extra £1,028.50 per UK adult. Per adult in the UK that’s…
Read moreB2Holding ASA, via its fully owned subsidiary Ultimo Netherlands BV, has entered into an agreement to acquire a residential mortgage Non-Performing Loan (NPL) portfolio from Romanian Bank Banca Comerciala (BCR) in a 50/50 partnership with EOS Investment RO GmbH (“EOS”). The portfolio consists of some 6,800 loans secured by real estate collaterals. The portfolio has…
Read more
JC International Acquisition Llc (Jefferson Capital International) has announced that it has achieved full authorisation from the Financial Conduct Authority (FCA). Peter Copperwheat, Head of UK , said “meeting the threshold conditions is a fantastic achievement for our team at JCIA and affirms our commitment to doing the right thing. Our UK Debt Collection Agency Creditlink Account…
Read more
New Research from StepChange has found that the number of people seeking help with debt problems has hit a record high with those affected increasingly likely to be younger, working part-time and renting their home. The charity’s Statistics Mid-Yearbook, released today, shows that over 300,000 people sought advice from StepChange Debt Charity between January and…
Read more
http://www.cityam.com/248777/consumer-spending-hit-13-month-high-august-brits-overspent
Read more
Cabot Credit Management (CCM) has appointed Jose R Cadena as its new Chief Executive Officer (CEO) for its Spanish operation Gesif S.A.U. effective from 12th September.
Read moreNew research from Echo Managed Services has found that one in four people want businesses to contact them via digital channels in order to settle their debts. 25% of the 1,500 consumers questioned said digital means, such as SMS or email (particularly when these are linked to an online payment portal) would likely lead to payment of a debt. 40%…
Read more
New research from Equifax has found that 32% of people in the UK have had to borrow money from friends or family. The online survey, conducted by YouGov, found 31% of these loans were to pay for household essentials such as food, 23% to pay for car repairs and 18% to pay for utility bills…
Read more
Arrow Global Group PLC has announced its interim results for the six months to 30 June 2016. Commenting on the results, Tom Drury, Group chief executive officer of Arrow Global said: “Arrow Global has been pursuing a consistent and proven strategy over many years. This has seen us deliver profitable growth in the UK, while continuing…
Read more
New research by the National Debtline has found that 37% of 18 to 24 year olds are already in debt, owing an average of nearly £3,000 (excluding student loans and mortgages). Young people are building up debt and worrying about money in their first few years of adult life, but far too few are seeking advice…
Read more
Motormile Finance (MMF) has achieved full authorisation by the Financial Conduct Authority (FCA). Denise Crossley Chief Executive Officer of Motormile Finance UK, said: “I am very proud to be able to announce that we have been authorised by the FCA. We have worked extremely hard to get to this point and all credit has to…
Read more
Cabot Credit Management (CCM)) has announced its financial results for the past 6 months (period ending June 2016. The statement said that Debt purchase collections increased 24% from £141.6million to £175.9 million compared with the same period in 2015. 120-month Estimated Remaining Collections increased to £2.07 billion from £1.92 billion for the same period in 2015 and…
Read more