Credit, Collections & Insolvency News
Today sees the launch of the new Standard Financial Statement (SFS), an initiative designed to bring greater consistency to the way organisations assess people’s finances when they are in debt. The SFS, the launch of which has been co-ordinated by the Money Advice Service, will be adopted by all major debt advice providers across commercial and…
Read moreDebt buyer Experto Credite has entered into liquidation, The company entered voluntary liquidation on November 24. Smith & Williamson, were appointed as jlquidators for the winding up process. Debts are believed to be owed to HSBC, Natwest, Virgin Media, Vodafone and Intrum Justitia. No further details are available at this stage.
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Target Group has today announced the appointment of Jeremy Edwards as the company’s Chief Client Officer (CCO). Having held senior leadership positions at Accenture, Firstsource Solutions and Hinduja Global Services, Jeremy brings with him a wealth of experience in financial services, business process outsourcing (BPO) and client services. The new role brings together business development, client…
Read moreArrow Global Group PLC (“Arrow Global” or the “Group”) has agreed terms to take ownership of an additional specialist servicing capability and enter into a five-year servicing agreement in the Netherlands. As part of the investment, it will also co-invest in a secured loan portfolio with a face value of circa €1.7 billion (circa 9,300…
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The European Central Bank (ECB) will allow European banks to set their own targets for cutting the €900 billion of bad loans left over from the financial crisis. New guidance will require banks to set their own targets for the levels on non-performing loans (NPL), with only “significant” deviations triggering regulatory action. Sharon Donnery, the Irish…
Read moreNew research from Echo Managed Services has found that one in four people want businesses to contact them via digital channels in order to settle their debts. 25% of the 1,500 consumers questioned said digital means, such as SMS or email (particularly when these are linked to an online payment portal) would likely lead to payment of a debt. 40%…
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Tech Mahindra’s acquisition of Target Group has been formally approved by the Financial Conduct Authority (FCA). Ian Larkin and Bill Alley, co-group Chief Executive Officers stated: “We would like to thank Pollen Street Capital for its four years of support and assistance in moving the business forward. Our focus now will be on accelerating the next…
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Arrow Global Group PLC have received their full Financial Conduct Authority (FCA) authorisation. The group includes Capquest Debt Recovery. Commenting, Tom Drury, Group Chief Executive Officer, said: “We are delighted to have received the necessary FCA authorisations. They are an important milestone for the Group and are core to delivering on our strategy.”
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SSE face scrutiny from Ofgem after switching its customers to pre-payment meter tariffs, with concerns raised that some customers are in potentially vulnerable situations. Ofgem’s will review it’s Standards of Conduct which are aimed at ensuring suppliers treat customers fairly. Firms should take all reasonable steps to ascertain a customer’s ability to pay and must take…
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A new national register – Landlord TAP – places all let properties in England and Wales in one place. Landlords will provide information about tenants responsible for paying water bills.
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The Money Advice Trust t helped 1.3 million people to tackle their debts and manage their money last year.
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Portfolio comprises of non-performing banking claims originated by four regional banks.
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Investor in Customers (IIC) awards 1st Credit a three star rating for ‘exceptional’ customer service for the third consecutive year.
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