Credit, Collections & Insolvency News
The Insolvency Service has published a review of the monitoring and regulation of Insolvency Practitioners (IPs). Following the introduction of “Regulatory Objectives” for Recognised Professional Bodies (RPBs) in October 2015, the Insolvency Service has undertaken a number of reviews to assess the effectiveness of the regulatory regime. As part of that, the Insolvency Services has visited…
Read moreDebt advice provider PayPlan, has joined forces with the highly-regarded debt advice service at Limavady Community Development Initiative (LCDI) to launch PayPlan in Northern Ireland Representatives from the housing, university and financial sectors attended the launch where speakers from the Cabinet Office and Advice NI provided their thoughts on the future of debt advice in Northern…
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Reservations about data security pose the biggest challenge when it comes to increasing consumer adoption of Open Banking, according to a new white paper from credit reference agency and information solutions provider, TransUnion (formerly Callcredit). Based on research with both consumers and financial sector decision-makers across the UK, the study found that consumers cite the…
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The Financial Conduct Authority’s new rules on authorised push payment (APP) fraud have launched today (Thursday 31st January). Under the new rules, victims of Authorised Push Payment (APP) fraud can now complain to the payment services provider (PSP) receiving their payment. In the case of APP fraud, the PSP is often a bank which holds the…
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Water regulator Ofwat has today given its initial assessment of water companies’ business plans for 2020-25. Three water companies – Severn Trent, South West Water and United Utilities – delivered such high-quality plans that they have already been given the green light by Ofwat. The plans from those three companies set out how they will…
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Morses Club, the UK’s second largest home collected credit lender, has announced the acquisition of the business and assets of Eccles Savings & Loans (Eccles Finance), a home collected credit lender. Eccles Finance is a family-run business, which has been active in home collected credit for over 50 years. Based in the North West of…
Read moreEnergy supplier Switch2 Energy, has made a trio of senior appointments to support its growth plans. Richard Slee has joined the Yorkshire headquartered company as CEO with a mission to maximise Switch2’s market-leading position as the dominant force in UK heat networks. Chris Kingston has also joined the business as Operations Director, while Simon Waite is the…
Read moreThe Bank of England has today published its latest monthly Money and Credit report showing consumer credit growth slowed to 6.6 percent in the year to December 2018. Outstanding balances for consumer credit stand at £215.6 billion. The Bank of England says that the credit growth slow down reflects the continuation of relatively weak flows…
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Ofgem has appointed Utilita Energy to take on supplying Our Power’s 31,000 domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers. Utilita is offering Our Power’s customers a competitive tariff and will honour all outstanding credit balances, including money owed to both existing and former customers…
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Latest figures from the Insolvency Service for Northern Ireland show that there were 73 company insolvencies between October and December. 34 were compulsory liquidations while 26 were creditors’ voluntary liquidations. There were also eight administrations and five company voluntary arrangements. That total of 73 was 19.8 percent lower than the same quarter in 2017 and…
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A total of 316,095 low-income Scottish households have accessed emergency funding to help with the costs of essentials such as food and heating since 2013. Over £181 million has now been paid out from the Scottish Welfare Fund, which helps people during times of crisis to buy everyday essential items like food, nappies or toiletries and…
Read moreBusiness process outsourcing (BPO) Target Group and operational has announced the appointment of two hires in the client services and business development teams. Neil Glover joins as Business Development Director, while Target also added David Facenfield as a Client Development Director within the client services team, as Target looks to strengthen its offering to clients.…
Read moreConsumer Credit Solutions (CCS) has purchased a controlling share in finance technology specialists Castlefields (Abbeystoke Ltd). CCS is a facilitator of point-of-sale finance to the home improvement industry and has enjoyed a close working relationship with Castlefields for over 15 years. In that time CCS has been instrumental in assisting Castlefields to enhance both the…
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