Credit, Collections & Insolvency News
Legal specialist Esson & Aberdein has launched a dedicated Lender services division which it says will address an acute lack of provision and competition in the area. The debt recovery and conveyancing services division, have been recently bolstered by the appointment of Fallon Spencer as Head of Corporate Property Services. Spencer is building a specialist…
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The UK’s energy crisis has prompted one in five (20%) consumers to rely on credit cards, loans and overdrafts to manage the mounting costs recorded over the last three months according to research by Credit Karma. The research found that the vast majority of consumers (78%) say they have experienced price hikes since the beginning…
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Flexys has entered into a collaborative partnership with EQ Credit Services (EQCS). EQCS provides advanced consumer loan technology and outsourced services to banks and other lending institutions and delivers digitally-enabled lending solutions to millions consumers. Combining EQCs’ award-winning loan management platform with Flexys’ cutting edge debt management solution allows lenders to layer sophisticated debt management…
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Yorkshire Building Society and Citizens Advice have announced the significant expansion of an innovative partnership that initially piloted across six of the Society’s branches in Yorkshire last year and has already benefitted more than 530 people. Following the success of the pilot, the expansion will treble the number of branches offering the scheme to 18…
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Global credit data and risk intelligence specialist, Creditsafe has announced the acquisition of Graydon. Graydon has been in operation for over 130 years and has been for the last 5 years a 100% subsidiary of Atradius the leading global credit insurer. Graydon is the market leader in B2B information services in the Netherlands and Belgium,…
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Here is an overview of The Money Charity’s latest statistics for February 2022 Personal debt in the UK People in the UK owed £1,765.6 billion at the end of December 2021. The average total debt per household, including mortgages, was £63,528. Per adult this was £33,328, around 108.7% of average earnings. This is up from the revised £33,306…
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New research from SunLife shows almost 40% of people are not putting enough money aside to pay for their funeral, leaving their families to pick up the £1,800 shortfall. The report also highlights that one in five is also having to borrow to cover that shortfall with the average cost of a funeral is now estimated…
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Students in England will have to pay back university loans over 40 years instead of 30 years, the Government has announced. Under the current system, loans are written off after 30 years the change will mean that more students will pay back their loan. The student loan proposals could see the term extended to 40…
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The Credit Services Association (CSA) has announced that Cabot Credit Management’s General Counsel Sarah Whiteley has been elected as a new board member. Whitely leads the legal, governance and company secretary functions for Cabot Credit Management across the UK and Europe and is a trusted advisor to C-Suite colleagues, stakeholders, the Cabot Holdco and subsidiary…
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Global information and insights company TransUnion has announced that it has partnered with CreditLadder, the rent reporting platform, to incorporate UK tenants’ rental payments into their credit information. Rental payment history of those individuals using CreditLadder can now be recorded in their TransUnion credit report, giving finance providers a more holistic view of financial standing…
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Joseph Rowntree Foundation (JRF) is warning that a planned real-term cut to benefits in April could pull 400,000 people into poverty. The analysis revealed the consequences of the Government’s decision to uprate benefits by just 3.1% in April, when inflation is forecast to hit 7%. The Foundation says that this represents a real-term cut to…
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An estimated 4 million people in Britain have so far been eligible for a Cold Weather Payment this winter, according to analysis from comparethemarket.com on data from the Department of Work and Pensions (DWP). Among those 4 million people eligible in total across Britain, 13,000 lived in the six areas where weather stations have been…
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Fraud prevention service, Cifas is urging consumers to report fraud committed against the public purse as new research reveals one in ten people know someone dishonestly claiming a discount on their Council Tax Bill. Current rules mean any household with only one adult living at the address can claim a 25% discount on their Council…
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