Credit, Collections & Insolvency News
New research by Intrum suggests that GDPR is unknown to more than one out of four European businesses. The report shows that 27 percent of all businesses in Europe state that they have not heard of GDPR. The report also indicates that every eight (12 %) large corporation, defined as companies with more than 250 employees,…
Read more
HSBC has created the first live use case of open banking for credit applications using the InterConnect platform from Equifax. The solution will facilitate quick affordability assessments by allowing individuals to submit their bank transaction information electronically, in less than five minutes, during an application for credit. Each submission is presented directly to HSBC UK…
Read more
Just under seven million Brits believe they are living debt free despite owing millions, according to the first consumer debt profile from uSwitch.com. The research shows that while three quarters (74%) of consumers are in debt, one in five (14%) don’t realise their monthly bills, for example, their car insurance or store card payments, is actually repaying…
Read more
More county court judgments (CCJs) were registered against consumers in England and Wales during Q1 2018 than any other quarter since current records dating back to Q1 2005 began, according to figures released by Registry Trust. During Q1 2018, 305,877 judgments were registered against consumers in England and Wales – over double the 150,622 consumers…
Read more
National research by Labrador has revealed that consumers are blind to the reality of their energy costs, bills and tariffs. The data reveals that only 12 percent of consumers have paid their energy bills via an actual reading for the last 10 years. Moreover, 46 percent of bill payers have paid for their energy bills via…
Read more
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in March was at a similar level to that reported in March 2017, and grew 6% in Q1 2018 as a whole. Credit card and personal loan new business together grew in March by 7%, compared with the same…
Read more
Debt charity, StepChange has revealed thousands are struggling with problem debt in Scotland. Drawing on client data from January to December 2017 titled Scotland in the Red the report reveals that: Record numbers are contacting StepChange for help in Scotland; nearly 20,000 people sought debt help in 2017. Those seeking help have seen a real-terms decrease in…
Read more
Panel and asset management software and analytics specialist Qualco has appointed Richard (Dicky) Davies as Business Development advisor. Davies joins Qualco with a wealth of experience in both the management and growth of major consumer finance portfolios in the UK financial services sector. He previously held senior business development positions in Barclaycard and Visa Europe,…
Read moreCredit Kudos has announced that it has successfully rolled-out of Open Banking connections with the largest UK banks, becoming the first credit bureau to offer Open Banking services to lenders and individuals. Borrowers can now use Credit Kudos to verify income and demonstrate creditworthiness using their financial history data, giving individuals more control over their…
Read more
UK consumers saw a 22 percent spike in adverse debt judgments last year, according to national statistics released by TrustOnline. Over the same period the number of online searches by people checking judgment status grew by ten percent. During 2017 nearly 1.2 million judgments were registered against consumers in England, Wales, Scotland and Northern Ireland.…
Read more
The Credit & Collections Technology Awards has confirmed the judges for the 2018 event. Launched in 2017, the second annual awards seek to recognise excellence in credit and collections technology. The judging panel includes industry association leaders whose expertise includes specialisms from a diversity of different backgrounds, this ranges from consumer and business commercial through to lending and collections.…
Read more
The Bank of England has published its latest monthly Money and Credit report showing consumer credit growth was 8.6 percent in the year to March 2018, down from 9.4 percent in February. Outstanding balances for consumer credit stand at £209.2 billion exceeding the previous quarterly peak of £208.2 billion in the third quarter of 2008. The…
Read more
Millions of consumers feel they are ‘living beyond their means’, a study has found. Researchers discovered a large percentage of the nation fall back on credit cards and overdrafts when wages fail to last until the end of the month according to new research by Vantage Leasing. Of the 2,000 Consumer surveyed, 43 percent have…
Read more