Credit, Collections & Insolvency News
Webchat, SMS and social media messaging are popular ways for customers to contact brands – but new research by Ultracomms reveals how consumers feel about contact centres and confirms they still want to pick up the phone when they have a problem. The contact centre specialist surveyed 1,000 consumers on their experience of interacting with…
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Dept Purchaser, Lantern Debt Recovery Services has announced that it has raised £15 million in a committed senior revolving credit facility from a syndicate of lenders. The lenders consisted of Shawbrook Bank and Paragon Bank. The funding will be used to support the purchase of further non-performing consumer debt portfolios. The facility also has a…
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The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has launched a new event website for its award-winning annual conference, the UK Credit and Collections Conference (UKCCC), to be held on Thursday 12th September 2019. For the first time in the event’s history, the website will offer a…
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HMRC has spent over £140 million on private debt collectors in the last decade, according to new analysis by UHY Hacker Young, the national accountancy group. UHY Hacker Young says HMRC has come under pressure to maximise revenues in recent years which has led to it adopting an increasingly aggressive approach to collecting unpaid tax.…
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‘Outdated and punitive council tax regulations’ are encouraging local authorities to collect arrears aggressively and is causing people serious financial harm, according to new research by Citizens Advice. Citizens Advice new research shows missing an average council tax payment of £167, in the first month of the financial year, can escalate to a debt of…
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Debt Purchaser has announced that is l building ‘next-generation’ data science capabilities with the launch of Lowell Labs Amsterdam Based in Amsterdam, Lowell Labs is a data science centre of excellence focused on creating new insights about consumer credit data, segmentation, and financial behaviour. Its work will serve Lowell’s three core geographies (the UK, DACH,…
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Here is an overview of The Money Charity’s latest statistics for April 2019: Personal debt in the UK People in the UK owed £1.633 trillion at the end of February 2019. This is up from £1.584 trillion at the end of February 2018, an extra £942.39 per UK adult over the year. The average total debt per household,…
Read moreAccountant in Bankruptcy’s (AiB) has published its latest scottish personal insolvency provisional figures for the financial year 2018-19 which show there were 4,862 awards of bankruptcy compared to 4,644 during 2017-18. The number of personal insolvencies (bankruptcies and protected trust deeds) in Scotland rose by 29% in January-March 2019 compared with the same quarter the…
Read moreEuropean debt purchase specialist Intrum has announced that it has completed the finalisation of regulatory approvals to finalise the acquisition of Solvia Servicios Inmobiliarios (Solvia) from Banco Sabadell following the initial announcement in December 2018. The agreement means that Intrum will acquire an 80 per cent share in Solvia, whilst Banco Sabadell, one of the…
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More than four million consumers say they do not have enough mental space to make the right choices when it comes to tackling difficult decisions, according to research from Scottish Widows. A further 6.4 million people say they simply don’t have time to do important life admin. It’s not just about having time to dedicate…
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The Financial Conduct Authority (FCA) has published its Business Plan for 2019/20, which outlines the key priorities for the coming year. As the UK finalises preparations to leave the European Union, the immediate priority will remain supporting an orderly transition post-exit. The FCA will also continue to play a leading role in shaping the global…
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European credit management specialist Lowell has announced a change of leadership. Effective from 10th June 2019, Colin Storrar, Chief Financial Officer (CFO) of Lowell since 2013, will succeed James Cornell as Chief Executive Officer (CEO). Storrar has worked closely with Cornell to lead Lowell’s successful transformation from a primarily British player to a leading European…
Read moreArvato Financial Solutions has appointed a new Business Development Director for the UK Market. Alistair Kay who has over thirty years’ experience within the credit industry has joined Arvato from TransUnion (formerly Callcredit) to lead up the development and acquisition of new clients. Kay has a background of sales within the BPO, Financial Services markets…
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