Credit, Collections & Insolvency News
Here is an overview of The Money Charity’s latest statistics for December 2017: Personal debt in the UK People in the UK owed £1.562 trillion at the end of October 2017. This is up from £1.504 trillion at the end of October 2016 – an extra £1,106.13 per UK adult. Per adult in the UK that’s an average debt…
Read moreThe winners of the inaugural 2017 Credit & Collections Technology Awards have been revealed. There were sixteen winners (three of which were partnership wins) from the sixteen Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation. The Credit & Collections Technology Awards were launched in the Summer and…
Read more
A new study from Scottish Widows’ independent think tank, The Centre for the Modern Family, has found that four in ten (43%) grandparents help their families to fund the festive season, spending a collective £932 million. More than a third (36%) of them make sacrifices to compensate for the extra expenditure at Christmas.The Silver Supporters report, the…
Read moreCredit reference specialist, Aire has announced a first-of-its-kind partnership with online retailer N Brown. The new agreement will see Aire provide its augmented credit assessment technology to support N Brown, which operates online stores such as JD Williams, in analysing the full picture of online customers and the true benefits and risks that come with…
Read more
Britain’s record on tackling poverty has reached a turning point and is at risk of unravelling this follows the first sustained rises in child and pensioner poverty for two decades according to latest research by the Joseph Rowntree Foundation (JSF). The report finds that almost 400,000 more children and 300,000 more pensioners are now living…
Read more
A quarter (25%) of women experience significant doubts several times a day, compared to just 19% for men. This trend can be seen across areas of personal finance – with almost a third of women (32%) saying they lie awake with money worries at least once a week, compared to just 23% of men Women appear to take…
Read more
Online research from Equifax, the consumer and business insights expert, reveals that 43% of British adults don’t have any personal savings set aside for unexpected financial events such as unemployment, illness or urgent repairs to their home. The survey, conducted by YouGov ahead of the recent Bank of England rate rise, found that nearly one…
Read more
New figures released by the Finance & Leasing Association (FLA) show growth of 3% in consumer finance new business in September, compared with the same month last year. In Q3 2017, new business grew by 6% compared with the same quarter in 2016. In September, credit card and personal loan new business together grew by…
Read moreHere is an overview of The Money Charity’s latest statistics for November 2017: Personal debt in the UK People in the UK owed £1.557 trillion at the end of September 2017. This is up from £1.505 trillion at the end of September 2016 – an extra £1,030.47 per UK adult. Per adult in the UK…
Read moreThe Information Commissioners Officer (ICO)’s Deputy Commissioner has reminded organisations to be transparent with people’s personal data after a survey revealed a significant deficit of trust that organisations must address if they want to innovate with personal information. New ICO research found that only one fifth of the UK public (20%) have trust and confidence…
Read more
Following on from the Bank of England Monetary Policy Committee news that is has voted to increase interest rates by 0.25% to 0.5% – the first rate rise since 2007. The credit and collections industry has responded to the rate change. Joanna Elson OBE, Chief Executive of the Money Advice Trust, the charity that runs…
Read moreDebt solution provider Harrington Brooks, part of the One Advice Group, has appointed Nick Pearson to the role of Group External Relations Manager. He starts with immediate effect and will be focusing on meeting the creditor partners with which the Group. Pearson is the former Chief Executive of The Debt Counsellors Charitable Trust and has…
Read moreResearch by MotoNovo Finance has found that 89% of Consumers are positive ‘Promotors’ of the dealer Finance The findings have been generated by an independently managed customer monitoring programme run on behalf of MotoNovo Finance, assessing feedback from consumers financing their vehicle with the business. The latest quarterly update to the end of September shows that…
Read more