Credit, Collections & Insolvency News
Home collected credit specialist Morses Club has announced strong preliminary results as it reported strong annual profit growth as both credit issued and customer numbers rose. Morses Club’s revenue for the 52 weeks to February 23 rose by 0.3% to £117million, but on a proforma, like-for-like basis, it rose 6.%. Morses Club is providing proforma results…
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The Financial Conduct Authority (FCA) has today published a discussion paper on Intergenerational Differences, exploring the changing financial needs of consumers from different age groups. The way people build and use wealth is evolving – having an impact on their financial needs. With one of the FCA’s statutory objectives being to protect consumers, it is…
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The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has launched a new event website for its award-winning annual conference, the UK Credit and Collections Conference (UKCCC), to be held on Thursday 12th September 2019. For the first time in the event’s history, the website will offer a…
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M&S Bank has announced that Paul Spencer has been appointed Chief Executive Officer (CEO) of M&S Bank, following his appointment as interim CEO, M&S Bank, in February 2019. Prior to this, Spencer was Chief Control Officer for HSBC’s Retail Banking and Wealth Management business. He also previously held the position of CFO for Marks &…
Read moreMorses Club has announced that it’s Chief Financial Officer (CFO), Andy Thomson, plans to retire from his role on 1st July 2019. Thomson will remain as a Non-executive Director (NED) on the Board of Morses Club. Thomson was involved in the RCapital acquisition of Morses Club in March 2009, remaining on the Board as a…
Read moreKingston Smith LLP, the award-winning top 20 UK accounting and business advisory firm, has joined Moore Stephens International, one of the world’s leading global accounting and advisory networks. Centred in London and with 62 partners and 550 staff, Kingston Smith has built an enviable reputation across multiple sectors for providing trusted advice, commercial expertise and…
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The Bank of England has published its latest Money and Credit statistics, showing consumer credit growth slowed to 6.4 percent in the past year as consumer credit increased by £0.5 billion in March, the lowest increase since November 2013. The weakness was largely due to a fall in new lending for car finance. Outstanding balances…
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Fiduciam, the short to medium term lender, has announced a key hire which has enabled it to expand its lending activities in the north of England and open a new office in Manchester. The company has hired Chris Parr to head up its new northern office. Parr has worked in bridge lending for over 12…
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Home collected credit lender Morses Club has announced changes to the board of the company. Baroness Simone Finn has been appointed to the Board as an independent non-executive director and Chair of the Audit and Risk & Compliance Committees with effect from 5th May 2019. Baroness Finn is a member of the UK House of Lords. She is a former…
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The Insolvency Service has published its latest insolvency statistics which indicate that the underlying number of personal insolvencies decreased in England & Wales. Total individual insolvencies fell in Q1 2019 from an 8 year high in Q4 2018. This fall was largely driven by a decrease in the number of individual voluntary arrangements (IVAs) though…
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HMRC has spent over £140 million on private debt collectors in the last decade, according to new analysis by UHY Hacker Young, the national accountancy group. UHY Hacker Young says HMRC has come under pressure to maximise revenues in recent years which has led to it adopting an increasingly aggressive approach to collecting unpaid tax.…
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The Central Bank of Ireland has reprimanded and imposed a fine on Bank of Montreal Ireland for breaching a condition of its banking licence by failing to submit three operational risk returns to the Irish Central Bank, and failing to establish and maintain effective processes and internal controls to ensure compliance with this regulatory reporting…
Read moreLatest figures released by the Registry Trust shows that the number of consumer debt judgements increased in Ireland during Q1 2019. There were 595 judgments registered against consumers in Ireland during Q1 2019, 26 percent higher than the same quarter of the previous year, according to figures released today (April 29 2019) by Registry Trust.…
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