Credit, Collections & Insolvency News
The Bank of England has today published its latest monthly Money and Credit report showing growth in consumer credit of 9.5 percent in the year to December 2017 up from 9.3 percent in November. Outstanding balances for consumer credit now stand at over £207.1 billion .The 8.9% growth in credit card lending has pushed the…
Read moreSignificantly more UK households say they are spending more on essential products and services than they were a year ago, according to the latest Lloyds Bank Spending Power Report. The report has also found that significantly more consumers say they have increased their spending on essentials compared to 12 months ago with 70% of adults…
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Styles & Wood has become a Supplier Member of the Credit Services Association (CSA), the first to join the extended category of membership since it was announced in November last year. Arctick, winner of the Regulatory Technology solution at the 2017 Credit & Collections Technology Awards with its enterprise Governance, Risk and Compliance (GRC) management software…
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1.3 million elderly people will struggle to afford their energy bill this winter according to new research by comparethemarket.com. Two fifths (43%) of over 65-year olds are worried that cold weather this winter will lead to higher energy costs, over one in ten (11%) don’t feel they are in a position to afford an increase in…
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Household spending increased more rapidly than income growth in the last financial year (2016-17), with the biggest rises taking place among lower-income households, the Resolution Foundation said in response to the latest ONS Family Spending figures. The ONS figures show that households increased their spending by 4 percent in 2016-17, helped by low inflation and…
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Private Equity firm, AnaCap Financial Partners has announced that it has reached an agreement to acquire a portfolio of seasoned, performing UK unsecured personal loans from Secure Trust Bank. The portfolio is highly diversified, covering more than 10,000 individual loans geographically spread across the U.K., with an average seasoning of almost two years, thus providing…
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Here is an overview of The Money Charity’s latest statistics for January 2018: Personal debt in the UK People in the UK owed £1.566 trillion at the end of November 2017. This is up from £1.512 trillion at the end of November 2016 – an extra £1,040.96 per UK adult. Per adult in the UK that’s an average…
Read moreDebt Purchaser, Arrow Global Group has announced the appointment of Dave Sutherland as Group Chief Operating Officer (COO). Sutherland is a highly experienced executive with a successful track record of managing operations within large, international financial services organisations. He joins Arrow Global at an exciting phase of the Group’s development and will sit on the…
Read moreNew figures from Highways England revealed that 200,610 drivers who did not pay the Dart Charge, for the Dartford Crossing between Kent and Essex, were visited by debt collectors. The automated toll was introduced in November 2014 in an effort to ease congestion and help traffic at one of the countries busiest roads. In 2016…
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New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market fell by 8% in November, compared with the same month in 2016, while the value of new business increased by 2% over the same period. The percentage of private…
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Italy’s Intesa Sanpaolo is considering selling its debt collection business and a bad loan portfolio to Sweden’s Intrum Justitia the two companies have said in separate statements. The move would mark a change of strategy for the Italian lender which set up the bad loan unit, called Capital Light Bank, back in 2014 and has…
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Romania’s Alpha has agreed to sell debt portfolio valued at €360m. The bank said that portfolio will be acquired by entities financed by a consortium of international investors including Deutsche Bank, funds advised by AnaCap Financial Partners and funds advised by APS Investments. The completion of the transaction is subject to the relevant regulatory approvals.…
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Almost £5 million in council tax went uncollected across Wolverhampton last year while a further £1.5 million in business rates was also unpaid. Councillor Wendy Thompson, Conservative leader on the Labour-controlled Wolverhampton council, said: “I find this absolutely shocking. It is a huge amount of money – and just think of what could have been…
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