Credit, Collections & Insolvency News
TransUnion and Let Alliance have announced that they have completed a two-year strategic project that has resulted in redefining the way that tenant referencing works in the UK, with references now returned the same day. Let Alliance has developed the affordability algorithms in partnership with TransUnion and through the knowledge of managing a Rent Guarantee…
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Credit reference agency TransUnion, has announced the launch of CreditView – a new, white-labelled, interactive solution which provides consumers with access to their credit scores whilst helping finance providers to engage customers, increase brand loyalty and personalise offers. CreditView comes in a modular format, which can be tailored to create individual brand experiences. The app-based…
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Cabot Credit Management has announced that it is working closely with The Domestic and Economic Abuse Project (DEAP) set up by Money Advice Plus and Surviving Economic Abuse charities, to strengthen its understanding of its customers who are victims of domestic and economic abuse. DEAP aims to build the capacity of organisations that are in…
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New research by Which? has found that more than seven million people have been left unable to use their payment card due to IT glitches in the past year. One in seven people surveyed for the consumer group could not use their debit or credit card due to an outage – equating to 7.3m people…
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Citizens Advice has reported that it has had over 11,000 complaints last year by people suspicious about possible offline scams. These classic tactics from the scammers’ playbook include unsolicited doorstep selling, mail and cold calling, and saw people lose an average of almost £3,000. Scams sent through the post resulted in the highest average loss…
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The Financial Conduct Authority (FCA) has confirmed it will introduce new rules in the Buy Now Pay Later (BNPL) market, saving consumers around £40-60 million a year. The changes, which include banning firms from charging backdated interest on money that has been repaid by the consumer during the BNPL offer period, will be in force…
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Sainsbury’s Bank has appointed Jim Brown as Chief Executive Officer (CEO) of its banking unit as it looks to build its online presence. Brown will take over the reins at from outgoing chief executive Peter Griffiths, who has plans to retire at the end of this year. Brown joins from RBS, he has previously held…
Read moreHome collected credit lenderMorses Club has announced the appointment of Andrew Hayward as Chief Financial Officer (CFO), subject to regulatory approval. Hayward will join Morses Club on 1st July 2019 and will also be appointed as an Executive Director to the Morses Club Board. Hayward joins Morses Club from eServGlobal, the ASX and AIM listed…
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The Bank of England has published its latest Mortgage Lenders and Administrators Statistics which indicate that arrears figures have decreased slightly. The proportion of total loan balances in arrears has continued to decrease, reaching 0.99%, the lowest since the series began in 2007 The figures indicated that the outstanding value of all residential mortgage loans…
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New research from Experian has revealed that most customers (51%) are so fed-up with slow sign-up processes that many will simply abandon their application. At the same time, 74% of businesses say that improving customer experience is a critical or high priority, however 28% admit they are not sure they offer a friction-free service to…
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The Co-chair of the All-Party Parliamentary Group on Fair Business Banking (APPG) has called on regulators to protect consumers and small businesses by banning the sale of debt to unregulated and inactive lenders. Charlie Elphicke MP and Martin Whitfield MP co-sponsored a main chamber debate entitled ‘Mortgage Prisoners and Vulture Funds’ which acknowledged that the…
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Corporate recovery and professional services business, Begbies Traynor has announced that it has acquired Stoke on Trent insolvency practitioners, Dunion & Co. Dunion & Co was established in 2008 and provides the full range of corporate recovery services to businesses across Staffordshire, Cheshire and beyond, under the terms of the deal the company will remain…
Read moreThe tenant fee ban could save UK renters £192 million a year, new analysis has found. Researchers scouring government data found there are some 860,000 rental transactions a year across the UK, with the average tenant is being charged £223 in fees alone. But under new laws set out in the Tenant Fee Act 2019…
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