Credit, Collections & Insolvency News
European credit management services specialist Lowell has announced another positive quarter in its latest results for the period 1 April to 30 June 2019,The company says it has a strong pipeline across all regions with £166 million capital deployed on portfolio acquisitions in H1 2019 Colin Storrar, Group CEO, said ”I am really pleased to…
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Guarantor loans company, Amigo Loans, has announced its results for the three month period ended 30 June 2019. In the quarter Amigo saw customer numbers by 17.3% and revenue increase by 13.7% to £62.9 million. A rise in impairment and increased investment delivered adjusted profit after tax of £20.4 million. Hamish Paton, CEO of Amigo,…
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Vehicle leasing company Alphabet has appointed Miles Tetlow as Head of contract management and Hannah Broad as Head of collections. Tetlow, who has worked for Alphabet since 2012, moves from his previous role as head of collections to take up his new role. In his new position, Tetlow will oversee the company’s contract servicing operations…
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Global technology company, Pitney Bowes, a provider of solutions for e-commerce, shipping, mailing, data, and financial services, has announced that it has entered into a definitive agreement to sell its software solutions business to Syncsort for $700 million in cash. The transaction is expected to close before the end of the calendar year, pending regulatory…
Read moreDublin-based credit technology specialist, Vision Blue has announced that it is opening a new office in Nottingham as it expands into the personal insolvency and personal money management markets in conjunction with further investment plans. Industry expert Martin Prigent has been appointed as Director to lead a twelve-strong team based in Nottingham’s Castle Marina. Prigent…
Read moreHanley Economic Building Society has restructured and bolstered its senior leadership team in a bid to drive positive change through its customer propositions. The Society has appointed Lynsey Carter as Head of Operations and Will Jones as Head of Technology. These high-level additions to the senior leadership team follow the recent appointment of Larne Payne…
Read moreNon Standard Finance (NSF) posted a pre-tax loss of £22.8 million in the six months to the end of June. The decline was driven by a £12.7m charge related to its attempt to buy rival subprime lender Provident Financial. Profits were down 790% compared to the previous year, reported pre-tax losses dropped from the £2.5…
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The debt advice sector has developed a first of its kind apprenticeship qualification. The qualification Standard and End Point Assessment have now been submitted to the approval board of the Institute of Apprenticeships. It is expected that the apprenticeship will launch within the next six months. The apprenticeship is a cross-sector qualification developed in collaboration…
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Arrears management and legal services specialist Ascent which is part of the Irwin Mitchell Group, has its latest financial results for 2018/19, indicating that revenue has riseb to £9.7 million. The company says the first quarter of 2019/20 has also been particularly strong for the business, with revenue 12% ahead of target thanks to increased…
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Mortgage servicer, Computershare Loan Services has confirmed it has again been reappointed as standby administrator by Belmont Green for its Tower Bridge Funding No 4 plc securitisation. The company will also act as delegate mortgage administrator for the loans. Andrew Jones, Chief Executive Officer at Computershare Loan Services, said “We’ve developed a great working relationship…
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TransUnion has appointed Sam Welch to its UK executive team, as he joins the business as part of its global strategy and planning function. Taking up his role as strategy and planning director for TransUnion in the UK, Welch will be responsible for driving its growth agenda, aligned to client needs and market trends. Welch…
Read moreParagon’s Motor finance has launched e-signature technology Flexi-sign to help intermediaries meet recommendations made by the Financial Conduct Authority (FCA). Flexi-sign is a new advanced electronic signature solution that enables faster pay- outs along with providing dealers and brokers with more choice and a standardised process when completing documents and verifying ID with consumers. It…
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Debt purchase and credit services specialist Cabot Credit Management has announced its latest company results which saw its earnings before interest, tax, depreciation and amortisation (EBITDA) margin improved to 66% Commenting on the results Ken Stannard, Chief Executive Officer, Cabot Credit Management, said “Cabot has delivered another strong set of results for the period to…
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