Credit, Collections & Insolvency News
The Credit & Collections Technology Awards have confirmed the category list for the 2017 Awards event. The Awards, powered by Credit Connect Media, recognises innovation and technological excellence. Categories include: Innovation in Collections, Lending solution, Credit Risk solution, Best Anti-Fraud solution, Best Collections solution, Best Affordability Assessment solution and Vulnerable Customer Management solution. A full list of…
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The Money Advice Trust has launched a new face-to-face training course designed to help creditor staff to better support customers affected by gambling, alcohol and substance addictions. The course has been developed in partnership with the Royal Bank of Scotland and NatWest, and can be tailored to creditor organisations across a range of sectors. The…
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The ICAEW has released new research on the accounting standard IFRS 9 and warned of the future challenges of bank reporting. IFRS will require banks to show their expected losses earlier than in the past, warning that this approach may make reporting and comparing each bank’s performance more problematic. The ICEAW says that the application of IFRS…
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The Financial Ombudsman Service (FOS) has published its latest six-monthly complaints data relating to banks, insurers and other financial businesses. The figures show that the ombudsman took on a total of around 170,000 new cases in the first six months of this year. This represents a 13% increase in complaint figures when compared to the…
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RSM Restructuring Advisory LLP Administrators of Debt Free Direct has agreed a sale of the business to Aperture Debt Solutions. Debt Free Direct Ltd, based in Chorley, Lancashire, is an Individual Voluntary Arrangement (IVA) business that delivers debt solutions for individuals across the UK and employs 72 people. The Company was part of the wider Fairpoint…
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Business and personal insolvency experts, Fortis Insolvency have announced a Partnership with Encompas Corporation to support and enhance their Know Your Customer (KYC) compliance processes. Manchester based Fortis Insolvency provide advice and support to business and individuals across the north-west who may be facing financial and operational issues. Chris Parry, Managing Director at Fortis Insolvency said “Evolving regulations, not…
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Peer to peer platform RateSetter has appointed Dave Bibby to its specialist property development team, RateSetter Property Finance. In a newly created role, Bibby will have responsibility for development of RateSetter Property Finance’s business across the North of England. Bibby has more than 30 years of experience in the banking sector, with 20 years spent…
Read moreShort term lender, Cheque Centre has gone into administration. The firm once had more than 300 high street branches but last year closed its remaining outlets to focus on trading over the internet under the Square Today brand. FRP Advisory have been appointed administrators. FRP Advisory said the shift in business strategy left Cheque Centre with…
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Home credit specialist Buy As You View(BAYV) has entered administration. Buy As You View, owned by Dunraven Finance, has made 41 job losses with another 226 jobs are at risk. Buy As You View, has 40,000 customers across the UK. EY confirmed it had been appointed by Buy As You View as administrators. EY said…
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Arrow Global Group has announced its latest interim results for the six months to 30 June 2017. Highlights include: · Strong organic portfolio purchases up 30.3% to £125.1 million (H1 2016: £96.0 million) · Revenue growth of 47.6% supported by 11.3% increase in core collections and 98.6% increase in Asset Management income from H1 2016…
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Morses Club PLC , the UK’s second largest home collected credit lender, has announced its latest results in the period to 26 August 2017. The results have shown that customer numbers increased substantially by 12% to approximately 233,000 as at 26 August 2017, driven by territory builds and organic growth (H1 2017: 2.4%). Total credit issued increased…
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Debt Purchaser, Motormile Finance (MMF) have been awarded a Silver rating for ‘outstanding’ customer service – from Investors in Customers (IIC). IIC, a customer experience consultancy, surveys customers, staff and senior management to assess how well a business understands its customer needs and how well it delivers services that meet those needs. Denise Crossley CEO…
Read moreDebt Purchaser, Arrow Global Group has agreed term with the potential acquisition of Mars Capital UK and Ireland, a leading UK and Irish mortgage servicing businesses, for an enterprise value of £15.5 million. The acquisition further strengthens Arrow Global’s asset management capabilities, while providing a strategic entry into Ireland, a new market for the Group…
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