Credit, Collections & Insolvency News
Cabot Credit Management (CCM) has announced its financial results for the three months ending 31 March 2017. As part of the results, Cabot announced that it has acquired Orbit Debt Collection, a UK based debt contingency business who specialises in the Utilities sector. In addition, Cabot has also obtained regulatory approval for the Irish business, Cabot Financial Ireland,…
Read moreThe British Bankers Association (BBA) latest high street banking data shows that consumer credit growth was 6.4% in April, compared with 6.1% in the previous month. Gross mortgage borrowing totalled £13.4 billion in April.* Net mortgage borrowing was 2.4% higher than a year ago. Eric Leenders, BBA Managing Director for Retail Banking said “As the…
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Debt Purchaser Lowell has announced its company results for the period 1 January to 31 March 2017. These results show the benefits of the Group’s ongoing portfolio expansion and diversification, as well as its continued consumer focus. Financial Highlights: 37% y-o-y increase in Cash Income to £148m …
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Nordic Capital Fund VIII, currently the indirect majority shareholder in Lindorff, notified the European Commission of the intended combination of Intrum Justitia and Lindorff. Based on its initial investigation, the European Commission has informed the parties of potential competition concerns in five Nordic/Baltic markets, relating to both debt collection and debt purchasing in each market.…
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Aegon has released protection claims statistics that reveal people are likely to be under-protected for the amount of mortgage debt they have. According to figures from The Money Charity, the estimated average outstanding mortgage for the 11.1 million households with mortgage debt in the UK was £119,937 in January 2017. Stephen Crosbie, Protection Director at…
Read moreThe Credit Services Association (CSA) has appointed Ruth Greaves as its new Head of Sales and Business Development. Greaves primary role will be to further drive membership while also working with members and the wider industry on the Association’s learning and development initiatives. Ruth will promote the extensive portfolio offered by the CSA including the…
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Target Group, welcomed Secretary of State for Foreign & Commonwealth Affairs Boris Johnson to its headquarters in Newport on Friday (12th May). The Foreign Secretary visited the successful South Wales based business with the Conservative parliamentary candidate for Newport West, Angela Jones-Evans. Bill Alley, co-Group CEO at Target Group, said: “We were delighted to host…
Read moreConsumers are set to pay, on average, an estimated £333 more for their energy over the next year if they roll over on to a standard tariff, as 70 fixed price tariffs come to an end in Q2 2017, equating to nearly a whopping £200m “inertia windfall” for energy companies. comparethemarket.com’s data shows that there…
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The number of mortgages in arrears fell slightly in the first quarter of 2017, and is down on both the previous quarter and a year ago, according to the Council of Mortgage Lenders (CML). There were 92,600 mortgages in arrears, representing 0.84% of all mortgages, the lowest quarterly rate on record. Within the total…
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A company behind 99.5million nuisance calls has been fined a record £400,000 by the Information Commissioner’s Office (ICO). Keurboom Communications Ltd has been issued the ICO’s highest ever nuisance calls fine after more than 1,000 people complained about recorded – also known as automated – calls. The calls, made over an 18 month period, related…
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The Bank of England’s latest money and credit statistics have revealed that mortgage approvals have fallen to a six month low. The statistics also show an increase in consumer debts such as credit cards and loans. The Bank of England’s figures for March 2017 show consumer credit increased by 10.2% in the year to March, to…
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New market and regulatory forces are having a major impact on the UK debt collections sector. The industry is going through a transitionary phase and as a result, businesses are having to shift their operational focus and adapt their business models. One of the biggest changes has been in the nature of the regulatory environment.…
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With the implementation date just over a year away, there is still a lot of conjecture surrounding the impending General Data Protection Regulation (GDPR), particularly around its appropriateness and applicability once the UK leaves the EU. One thing that is clear, however, is that now is the time for any firm handling personal data to…
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