Credit, Collections & Insolvency News
Debt purchaser,Arrow Global Group has announced its results for the period ended 30 June 2018. Commenting on the results, Lee Rochford, Group chief executive officer of Arrow Global, said “Momentum at Arrow remains strong. Our broad sourcing capabilities and operating platform have enabled the Investment Business to continue to achieve consistent returns, with unlevered net IRRs…
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Debt Purchaser, Lowell has announced its Q2 2018 Results, for the period ending 30 June 2018. The quarter has delivered continued growth across all key metrics – reinforcing the Group’s ability to achieve sustainable growth through strategic investment and diversification, unmatched data insight and customer focus. James Cornell, Group CEO, said: “I am very pleased…
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Debt Purchaser, Intrum has announced that it is reorganising its regional structure combining Spain, Portugal and its newly acquired unit in Brazil, communicated in the Interim Report 24thof July, into a new region to be called – Iberian Peninsula and Latin America. The new Intrum region takes shape based on the strong cultural, historically and…
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A fear of discussing death is leading to a lack of later life planning across the nation, as two fifths (41%) of people haven’t put any financial plans including wills, funeral plans and lasting power of attorneys in place. New research by the Co-op has launched the biggest ever survey into death, dying and bereavement. The survey which received…
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British Gas has paid £2.65 million in refunds, compensation and redress after it misinformed customers by issuing incorrect terms and conditions about exit fees. It was also found that British Gas had wrongly charged them to some customers and applied incorrect charges to others after their fixed deal came to an end. An Ofgem investigation…
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The total number of county court judgments (CCJs) registered against consumers in England and Wales fell year-on-year for the first time in five years during the first half of 2018, according to figures released by Registry Trust. During Q1 and Q2 2018, 571,555 judgments were registered against consumers in England and Wales, falling four percent…
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Personal insolvencies are on track to hit 105,000 per annum by 2022, breaking highs last seen six years ago, according to the latest econometric forecast from Arrow Global’s ‘Debt Britain 2018’ research. Analysis shows that personal insolvencies have been on the increase since 2015 and rising interest rates on the back of the Bank of…
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Debt Purchaser, Lantern has announced the appointment of veteran banking executive Gary Jennison as Non-Executive Chairman. William Ballmann, partner at Gateley PLC, who has been serving as Non-Executive Chairman of Lantern since 2016, will remain on the Board as a Non-Executive Director. With over thirty years’ experience in banking and lending, Jennison was most recently…
Read moreCitizens Advice is calling for better regulation of unaccountable bailiff firms as it reveals households have fallen behind on their essential bills, such as council tax and utilities, by an estimated £18.9 billion. Last year, the charity helped one person every 3 minutes with bailiff issues. In 2014, the government introduced reforms which were meant…
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Recent independent research of UK employees commissioned by expenses management software company Expend has highlighted that Generation Z and Generation Y employees are the most negatively impacted by facilitating their employers’ expenses. Over a quarter (27%) of Generation Z employees (18-24 year olds) have not been able to pay off credit card bills because they have…
Read moreIn the same month that the Bank of England base rate has risen to 0.75% – the highest level since 2009, debt growth has fallen to its lowest level in over a year. According to the August 2018 Money Statistics, produced by The Money Charity, debt growth per adult slowed to £900.74 in the year…
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Here is an overview of The Money Charity’s latest statistics for August 2018: Personal debt in the UK People in the UK owed £1.592 trillion at the end of June 2018. This is up from £1.545 trillion at the end of June 2017– an extra £900.74 per UK adult. Per adult in the UK that’s an average debt of…
Read moreThe finalists for Credit Connect’s second annual Credit & Collections Technology Awards 2018, the UK’s celebration of tech innovators in credit and collections, have been revealed. The Credit & Collections Technology Awards, organised by Credit Connect, brings together credit and collections technology executives to honour the industry’s leading players across 18 categories. The Technology focused-Awards scheme seeks…
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