Credit, Collections & Insolvency News
Complete Communication Solutions (CCS) has announced that it has rebranded as Saascoms. The customer communications solutions provider says that the rebrand reflects the evolution of not only the business but also the consumer communication landscape. The company says that Saascoms was originally formed when it recognised an opportunity for focused consumer communications, utilising and redeveloping…
Read more
A new report has found that card spending trends for April have indicated early signs of the impact of the widely reported cost-of-living pressures. Fico’s monthly report based on the largest consortium of UK cards data shows a typical rise in card spend and balances, but also a slight increase in missed payments. Average monthly…
Read more
The Enforcement Conduct Board, the new oversight body for the enforcement sector, has announced the appointment of four new non-executive board members. The four new board members are Alan Cavill is Director of Communications and Regeneration at Blackpool Council, supporting a town that has 8 of the ten most deprived neighbourhoods in England and is…
Read more
Chris Leslie, Chief Executive of the Credit Services Association (CSA), the UK trade body for debt collection and debt purchase, has been elected to the board of the Federation of European National Collections Association (FENCA) today at the Associations Annual General Meeting (AGM) in Berlin. FENCA represents the interests of the European credit management, debt…
Read more
Scammers are attempting to exploit the cost of living crisis by targeting consumers whose energy supplier has collapsed, according to new analysis by Which? Former customers of bust suppliers including Solarplicity, Future Energy and Northumbria Energy have been singled out by fraudsters attempting to exploit the confusion caused by the companies’ failures. In the first…
Read more
Free debt advice provider, PayPlan, has launched a new partnership with the National Bereavement Service (NBS) to provide practical, emotional and financial support to those who have experienced the death of someone close to them. Through its new partnership, PayPlan clients dealing with grief or bereavement will have access to a dedicated NBS bereavement helpline…
Read more
A new report from the Centre for Social Justice supported by Lowell has revealed thedire state of financial literacy in Britain and recommends compulsory money management lessons for primary school students. The report finds that lack of financial knowledge among children is posing unprecedented risks with nearly 14 million adults with experience of financial problems…
Read more
The Advertising Standards Authority (ASA) has published a new Enforcement Notice about Debt Management (IVA/PTD) adverts (ads) by Insolvency Practitioners and Lead Generation Companies. The ASA has published several rulings about ads which offered consumers a way to write off debt in government-approved schemes. These ads were not placed by FCA-authorised debt advisers but by lead generation…
Read more
Customers will need to pay an estimated £2.7 billion to cover the costs of 28 energy suppliers failing since June 2021, in addition to the cost of running Bulb Energy. While the supplier failures were caused by substantial increases in wholesale prices, Ofgem’s approach to licensing and monitoring suppliers over previous years increased the risk…
Read more
Inflation increased slightly in May, but soaring petrol prices will drive a bigger rise in June, while low-income households continue to face the greatest cost-of-living pressures according to the Resolution Foundation. CPI inflation increased from 9 to 9.1 per cent, while CPIH rose from 7.8 to 7.9 per cent, driven primarily by household services (such…
Read more
Inflation edged up to 9.1 per cent in the 12 months to May, from nine per cent in April, according to data from the Office for National Statistics. The figure is now at the highest level since March 1982, when it also stood at 9.1 per cent. The data suggests that inflationary pressures are still…
Read more
A third (33%) of households have multiple individual memberships for the same streaming service, when they could be saving money by paying for one household membership instead, according to research from comparethemarket.com. The research found that households spend £50 on average each month on paid-for subscriptions, the equivalent of £600 a year, with 32% spending…
Read more
New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 48% in April 2022 Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…
Read more