Credit, Collections & Insolvency News
The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has confirmed the full programme for this year’s UK Credit and Collections Conference (UKCCC), including a keynote address by Romana Pearson, Head of Consumer Credit at the Financial Conduct Authority (FCA). The conference is divided into morning and afternoon…
Read moreNew research by Equifax has highlighted that a third of parents feel pressured to buy the latest technology for their children. Underlining the need for broader awareness amongst young people of the cost of the things they want – and how they might be financed – the credit information provider has released research which reveals…
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Over two-thirds (70%) of consumers think the use of bots programmed to respond like agents is acceptable in customer service, according to a new report titled ‘Customer engagement – the road to 2020’, commissioned by West’s Unified Communications Services. This shows that consumers are happy to move to digital from voice if it is convenient,…
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Latest figures from the Financial Ombudsman (FOS) show that complaints about borrowing – ranging from store cards to payday loans – have risen by 40% in the past year. Concerns have been raised about lenders’ treatment of customers with high-cost loans. Excluding complaints about payment protection insurance, almost one in four complaints to the ombudsman…
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The Bank of Mum and Dad (BoMaD) will be the equivalent of a £5.7bn mortgage lender in 2018, according to new research and forecasts from FTSE100 financial services group Legal & General and Cebr. ‘BoMaD’ remains a major force in the UK housing market in 2018. 27% of buyers will receive help from friends or…
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Latest statistics from the UK Finance’s household finance for April 2018 has revealed that card spending was 9.8 percent higher than a year earlier. Outstanding levels of credit card borrowing grew by 5.2 percent over the year, down from an annual growth rate of 5.7 percent in March. Other key statistics showed that: Gross mortgage lending in April…
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Citizens Advice research reveals limited, inconsistent and patchy support for people with mental health problems. Energy and telecoms were rated the worst sectors for customer service and additional support, while water companies were seen most favourably. The number of people with mental health problems seeking advice from Citizens Advice on utilities and communications issues has…
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Fraud prevention service Cifas has announced its conference line up for this year’s annual conference. Senior figures from leading fraud prevention organisations across the globe will come together in London to discuss international approaches to tackling fraud and financial crime. CEOs from South Africa, the US, Australia and the Netherlands will come together on stage…
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Consumers are under-protected should serious illness strike, according to new research from Scottish Widows. Despite more than a fifth (21%) of people admitting their household wouldn’t survive financially if they lost their income due to long-term illness, fewer than one in 10 (9%) have a critical illness policy. People are, in fact, more likely to…
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New research from the Centre for Economics and Business Research (Cebr) commissioned by equity release lender more 2 life estimates that over 65s will have amassed a record £86bn of debt in 2018, up from £78 billion in 2017. Last year’s research predicted that the total debt of over 65s would only reach £65 billion…
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New research by Consumers’ Association brand Which has revealed that the most expensive overdraft fees cost seven times as much as a payday loan. Which says it first raised the alarm over these fees in 2016 and is concerned that, despite scrutiny from the regulator, not enough has been done to protect consumers from these sky-high fees.…
Read moreUK Finance has published a new report in association with EY which indicates that today’s social media savvy consumer taking advantage of more banking webchat services than ever before. The Way We Bank Now report, reveals that the popularity of services such as Twitter, Facebook Messenger and WhatsApp, is encouraging banks to invest in similarly fast and…
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Over two-thirds (70%) of UK consumers would like customer service to be more convenient and offer more channels to get in touch with organisations, according to a new report, ‘Customer engagement – the road to 2020’, commissioned by West Unified Communications Services. This shows that contact centres are still behind in offering digital technologies that…
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