Credit, Collections & Insolvency News
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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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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