Credit, Collections & Insolvency News
Debt purchaser, Arrow Global Group has announced a fall in profits in the first quarter of the year. For the three months ending 31st March, Pre-tax profit fell 43% o £9m on-year as income dropped 11% to £77.1m. Investment business collections fell to £85.1m in the first quarter from £105.5m on-year. The Group’s foremost priority…
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New finance provider Azzurro Associates, is looking to provide cash against at least £ 1 billion of UK businesses’ unpaid invoices to help provide much-needed liquidity in the coronavirus crisis. The new service aims to help businesses clear their growing unpaid debts. This is the first time that companies operating in the B2B sector have…
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The Credit Services Association (CSA) says that it has received a positive response to its call for closer collaboration with trade bodies representing the wider business community in planning for a phased relaxation of current lockdown rules. The CSA says that fellow trade associations have welcomed its drive to prevent the actions of a minority…
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Credit management services company, Lowell has announced that it has signed up to the C-19 Business Pledge, and comes on the back of Lowell extending its commitments to customers during the coronavirus pandemic. The C-19 Business Pledge was launched by Rt Hon. Justine Greening, and has the backing of a number of other Members of…
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The Credit Services Association (CSA) is urging its members to review all of their current activities and treatment paths to ensure they are doing everything possible to support their customers and the wider UK community through the current Covid-19 crisis. The CSA which represents more than 90% of the typically call-centre based firms, says that…
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A new Bournemouth-based fintech company Outstand.io has launched to help financial service providers better manage their non-performing credit portfolios. The firm’s founders, Dan Ware and Rob Samuel, co-created Outstand.io to assist with direct lender’s debt collection strategies. Outstand.io provides end to end guidance on setting up commercially beneficial relationships with debt purchasers to help improve…
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The outlook for the debt purchase market remains positive, despite there being a temporary pause in the supply of debt portfolios according to d bt resolution specialist, Hoist Finance. Chief Executive Officer Klaus-Anders Nysteen says he anticipates that banks will continue to divest portfolios and will do so at an earlier stage than historically. “The…
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Debt resolution specialist, Hoist Finance has announced its new sustainability strategy, which outlines the company’s Environmental, Social and Governance (ESG) goals and indicators. Through a bottom-up process, integrating feedback and insight from employees throughout the whole organisation, Hoist Finance developed a sustainability strategy focused on four core pillars: contributing to an inclusive financial ecosystem, creating…
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The Credit Services Association (CSA) the trade association for the debt collection industry, has made a series of significant changes to its future governance which will see the CSA Board led by a new, independent Chair. The changes mean that those seeking future election to the post of Independent Chair cannot be a current practitioner,…
Read moreEuropean leader credit management specialist, Lowell has announced its annual results. The results show strong growth in three key metrics: Cash Income, Cash EBITDA and £120m ERC with collections continue to perform ahead of forecast. Colin Storrar, Group CEO, said “2019 was a year of delivery for Lowell. We have continued our growth by doing…
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Debt Purchaser Arrow Global Group has reported record investment volumes of £303.7 million in its full-year results, with investment volumes at a consistent 17% net internal rate of return. The company also saw that its profits before tax increase by 28.3 percent. Estimated remaining collections for the next 84-month period is at £1.8bn, which is…
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Ireland’s The National Asset Management Agency (NAMA) has announced that it has repaid its remainder of its €1.064 billion of outstanding debt. The final transaction will complete the redemption of the €1.593 billion of subordinated debt originally issued by NAMA during 2010 and 2011. This subordinated debt accounted for 5% of the total amount of…
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Dow Schofield Watts has announced that it will launch a debt advisory arm. Phil Tarimo will lead the new service, DSW Debt Advisory, which is aimed at medium-sized companies seeking debt funding of £20 million or above. It will initially operate from the firm’s Northern offices but the aim is to roll it out nationally.…
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