Credit, Collections & Insolvency News
The debt advice apprenticeship, the first-of-its-kind in the UK, has been approved by the Institute of Apprenticeships. The first cohort of advisors will start to study under the new apprenticeship, which will grant them a level 3 qualification, in April 2020. The apprenticeship has been led by a ‘trailblazer group’ from across the debt advice…
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The Financial Conduct Authority (FCA) has confirmed that Active Securities trading as 247 Moneybox, have been placed into administration. Active Securities a high-cost short term lender (payday lender). In a statement that appears on the website, the company said that all existing loan agreements remain in place and will not be affected by the proposed…
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European credit management service specialist Lowell has announced continued performance growth in its results for the period 1 July to 30 September 2019. The results show double-digit growth in cash income, cash EBITDA. Whilst collections continue to perform ahead of forecast. Commenting on the results Colin Storrar, Group CEO, said ”We continue to grow our…
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Anchor Computer Systems has acquired the entire share capital of Databax from the Archibald Bathgate Group (ABG). The deal enables Anchor to build on the services offered by its Managed Services business unit and adds 5 staff, 30 customers and a new office location in Manchester. Anchor can now offer new complementary services such as…
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The Financial Conduct Authority (FCA) has told guarantor lender, Amigo to explain more carefully the risks that people are taking on when they agree to guarantee a loan for a family member or friend. The FCA was concerned that guarantors were not always made fully aware of their obligations, nor of the likelihood that they…
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Comparison website, GoCompare has joined Cifas, as an official member. The membership builds on GoCompare’s existing efforts to tackle fraud, having joined as members of the Insurance Fraud Bureau (IFB) in May. The agreement will mean that GoCompare can check suspicious activity against data at point of quote and quickly receive an indication of whether…
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AutoProtect Group has announced the addition of automotive fintech firm DealTrak to its existing portfolio of motor assets. In addition, the Group has announced the appointment of a new Chief Executive Officer (CEO). Owned by Correlation Investments (CIL), AutoProtect Group is a leading provider of insurance and warranty products worldwide, and the re-organisation of CIL’s…
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Encore Capital Group, the owner of Cabot Credit Management has announced that Ken Stannard will be stepping down from his role as Executive Director and Chief Executive Officer of its European subsidiary. Cabot has appointed Craig Buick as his successor, effective at the end of 2019 (subject to certain regulatory approvals). Stannard joined Marlin Financial…
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Craig Jenkins has been appointed Business Analyst at LendingMetrics, the auto-decisioning technology provider. Jenkins, who joins from business insight company GBW, will work with clients to ensure they maximise the benefits of LM’s award-winning automated underwriting platform ADP. Paul Brown, Head of Operations at LendingMetrics, said “Having Craig on board really adds another level to…
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Payment specialist Gala Technology has announced that they were awarded the ‘Security Innovation Of The Year 2019’ at the national Payment Awards. The latest success follows wins at five awards including the ‘PCI: 2019 Award For Excellence’ alongside ‘Best Use Of Technology’ and ‘Security Solution Of The Year’ within contact centre environments and ‘Best International…
Read moreSpecialist consumer lender, 1st Stop Group has announced that it has passed lending loan book has passed £250 million of outstanding loans. 1st Stop Group – a portfolio company of Pollen Street Capital, the independent alternative asset investment management company – reached the milestone having undergone significant growth across its secured lending, car finance and…
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Hodge Bank has appointed two new board Directors. Graeme Hughes joins as Senior Independent Director of Julian Hodge Bank and Hodge Life Assurance Company. David Gulland joins the board of Hodge Life Assurance Company. Both will join the Board of Hodge. Hughes spent the vast majority of his career with the Nationwide Building Society, most…
Read moreThe Cambridge Building Society has announced Peter Burrows as its next Chief Executive Officer. Stephen Mitcham, the Society’s Chief Executive Officer for the past 12 years announced his decision to step down earlier in the year to spend more time with his family and pursue other interests. With 20 years’ experience in financial services gained…
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