Credit, Collections & Insolvency News
UK debt purchaser, 1st Credit has achieved gold standard from Investor in Customers (IIC) for ‘exceptional’ customer service for the fourth year running. 1st Credit, part of Intrum Justitia Group, increased its scores across the board – from customers, staff, management and independent assessor IIC. The company achieved an overall score of 8.86 out of…
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Business process outsourcing and operational transformation provider Target Group has announced the appointment of Richard Gregory as the company’s Chief Data Officer (CDO). Gregory’s role will be to lead the further development and delivery of Target Group’s overall data strategy. The move continues to drive forward its position as a leading global insight led business. Having…
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Capita has agreed a contract extension until 2020 to provide mortgage services to Tesco Bank. Since the launch of Tesco Bank Mortgages in 2012 Capita has provided a full mortgage outsourcing service from their Glasgow based office. The service spans mortgage advice, telephony support, processing, servicing and arrears management. Initially, this supported Tesco in launching a…
Read moreFollowing Provident Financial Group (PFG) ’s trading announcement earlier in the week relating to the disruption in the home credit business, Executive Chair, Manjit Wolstenholme, has announced changes to the Consumer Credit Division (CCD) management structure. Chris Gillespie has been appointed Managing Director of the Provident home credit business, replacing Andy Parkinson, with immediate effect.…
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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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Hoist 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 moreThe Debt Advisory Line has announced that it has been granted full authorisation by the Financial Conduct Authority (FCA) for Debt Adjusting and Debt Counselling. Craig Gedey CEO said “The team have worked extremely hard over the past 2 years to ensure that DAL can demonstrate commitment to regulatory responsibilities and treating customers fairly. It…
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Deceased 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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RateSetter has withdrawn from the Peer to Peer Finance (P2P) Association after breaching its transparency rules. Ratestter made the announcement in a statement “We have decided to withdraw from the Peer to Peer Finance Association. No customer has experienced any loss from our actions but we recognise that our actions breached the principles of the Association. No customer…
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Provident Group has announced that Chief Executive Officer Peter Crook has resigned. In a statement which issued a profit warning. The doorstep lender says it expects to make losses of £80m to £120m as its debt collection rates have dropped to 57% compared with a previous rate of 90% in 2016. The statement said: The new…
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Principality Building Society has promoted Tom Denman to Chief Financial Officer (CFO). Denman was previously Deputy Finance Director and joined the Principality in 2009. Principality Building Society Chief Executive Steve Hughes says: “Tom will work alongside me to provide strong financial leadership to the board and the wider business. “He has both the technical experience…
Read moreScottish Building Society has appointed Raymond Abbott as its new Chairman, Abbott takes over the role from Rob Golbourn who will remain as non-executive director until he retires from the Board in October. Abbott, who is a chartered accountant, has been vice-chairman and senior independent director at the Society since 2015, and a member of the Board since…
Read moreHome collected credit lender, Morses Club has announced that the Group has secured an extension to its existing loan facility. Shawbrook Bank has increased the overall revolving facility from £25 million to £40 million. The loan facility has also been extended from its existing expiry date of March 2019 to August 2020. This will support the growth strategy…
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