Customers who make a complaint are less satisfied with how their supplier handles it compared to two years ago, according to Ofgem’s biennial complaints survey. Ofgem commissions a survey every two years which compares how suppliers deal with their domestic and micro-business customers’ complaints. Since complainants were last surveyed in 2014, the total number of…
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Arrow Global Group PLC (“Arrow Global” or the “Group”) has agreed terms to take ownership of an additional specialist servicing capability and enter into a five-year servicing agreement in the Netherlands. As part of the investment, it will also co-invest in a secured loan portfolio with a face value of circa €1.7 billion (circa 9,300…
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PayPlan has announced that it has received full authorisation from the Financial Conduct Authority (FCA) Rachel Duffey, CEO of PayPlan said “Today’s news confirms our status as a recognised leader in the debt advice field. The staff have worked very hard in creating a culture where the client always comes first and the FCA authorisation is a…
Read moreOfgem has published proposals to cap charges for installing prepayment meters under warrant. An option in the consultation includes placing a firm limit on charges of £100 or £150. The proposals also include plans to ban prepayment meters warrant installation charges for the most vulnerable customers. When customers fall in debt, one option is for…
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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…
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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…
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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…
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http://www.cityam.com/248777/consumer-spending-hit-13-month-high-august-brits-overspent
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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%…
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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…
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