Credit, Collections & Insolvency News
In the first quarter of 2019, 321,044 County Court judgments (CCJs) were registered against consumers in England and Wales, a rise of five percent on the same quarter of 2018, according to figures by Registry Trust. The total number of adverse CCJs have risen year-on-year for the past six years. At the same time the…
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MotoNovo Finance has announced it has become part of Aldermore, following its successful integration with the UK specialist bank. The announcement comes after Aldermore was acquired by FirstRand group in March 2018, and marks the successful coming together of FirstRand’s UK operations in retail, business and motor finance. The MotoNovo Finance business has been owned…
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The Treasury Committee has published a new unanimously-agreed Report on consumers’ access to financial services. The report says access to financial services and financial inclusion are issues of fundamental importance to the Treasury Committee, UK consumers, and also the functioning of the economy. Everyone can be vulnerable at some point, so financial inclusion matters to everybody,…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell by 2% in March compared with the same month last year. In Q1 2019 as a whole, new business was at a similar level to Q1 2018. Retail store and online credit new business increased by 4% in…
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The Payment Systems Regulator (PSR) has published its follow-up consultation for Confirmation of Payee (CoP) – an important tool to further protect people from Authorised Push Payment scams and prevent payments being accidentally sent to the wrong account. It is understood that this initiative will provide customers with better protection from authorised push payment (APP)…
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New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market fell 1% by volume in March, compared with the same month in 2018. The corresponding value of new business was at a similar level to March 2018. The POS consumer new…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage market new business volumes increased by 31% in March. Commenting on the March 2019 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “In…
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Homeowner mortgages in arrears figures remain at historically low levels according to the latest figures from UK Finance. The figures published reveal that there were 76,580 homeowner mortgages in arrears of 2.5 per cent or more in the first quarter of 2019, four per cent fewer than in the same quarter of 2018. Whilst the…
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In the first three months of 2019, the number of decrees against Scottish consumers dropped by 28 percent, compared to the same period of 2018, according to figures released by the Registry Trust. During the first quarter of 2019, 5,253 debt decrees were registered against consumers. There was a 29 percent decrease in the combined…
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Financial capability charity, The Money Charity, has announced that it has now reached over 200,000 recipients of their high-quality financial education in a Money Workshop at Darton Academy in Barnsley. Delivering financial education to young people has never been more essential as negotiating the world of money and personal finance remains a confusing, intimidating prospect…
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Business process outsourcing (BPO) and operational transformation provider, Target Group has announced the appointment of Stuart Anderson as Chief Commercial Officer. Anderson brings more than 30 years of experience in the financial services industry, including leading high-performance teams within the banking and insurance sectors and specialising in complex business services and transformational BPO. Anderson joins…
Read moreComputershare Loan Services has donated £2,500 to Epilepsy Scotland to help people with the condition access benefits and improve their wellbeing. The charity says that confusion over benefit entitlements is a major source of distress for those with epilepsy, and the donation will help them employ a new full-time officer who will provide information on…
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Debt purchaser, Cabot Credit Management has announced its latest financial results for three months ending 31st March 2019. Cabot’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) show a 13% improvement whilst collections is performing at 101% of prior ERC forecasts. Ken Stannard, Chief Executive Officer, Cabot Credit Management, said “Cabot has continued to…
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