Credit, Collections & Insolvency News
Scottish startup HubSolv has rebranded its automated client portal for the insolvency industry, formerly known as Ibby, under the new name HubSolv Messenger, to strengthen the identity of its fintech products. The rebrand follows HubSolv’s expansion as the firm works on a new product for a wider market that will leverage the branding originally designed…
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The Insolvency Service has published the latest personal insolvency statistics for England and Wales for Quarter 4 2018 (October to December 2018) which show that that the percentage of IVAs failing within the first year has increased for the fourth consecutive year. The figures also show that 9% of IVAs registered in 2011 and 3%…
Read moreDebt charities, StepChange and the Money Advice Trust have responded to the HM Treasury’s consultation on debt “breathing space” and a new defined statutory debt repayment plan (SDRP). The scheme will enable, people who enter into arrangements to pay back their debts in full whilst getting a level of statutory protection that has previously only been…
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Debt Purchaser Lowell has delivered the first part of a UK digital transformation programme with the ‘go-live’ of a new consumer website for its Lowell Financial brand. The new website sees significant changes to the existing customer portal both in terms of design and usability – with more to come. The site, which has been…
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Equitix Investment Management, a UK infrastructure manager, has reached an agreement with iCON Infrastructure on the acquisition of the Firmus Energy regulated gas network in Northern Ireland. The acquisition is expected to complete in mid-February. Established in 2005, Firmus Energy owns and operates a regulated natural gas distribution network in the major towns and cities…
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Provident Financial has announced the appointment of Charley Davies (formerly Taggart), who will take over the role of Group General Counsel and Company Secretary on 1 April 2019. After more that 11 years as Group General Counsel and Company Secretary, Ken Mullen has decided to retire from the Company and will step down from this…
Read moreNearly one million (900,000) people who’ve never switched energy supplier could cover the cost of their Christmas borrowing by changing to a better deal. New analysis from Citizens Advice shows that around 3.2 million people in Britain borrowed up to £150 to cover the cost of Christmas in 2018, almost 1 million of whom have…
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Praetura Asset Finance has announced the expansion of their portfolio, through the acquisition of Kingsway Asset Finance. The acquisition will create one of the largest independent asset finance companies in the UK. With a combined loan book of over £100 million, the enlarged group will offer SMEs a wide range of services to help them…
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Here is an overview of The Money Charity’s latest statistics for January 2019: Personal debt in the UK People in the UK owed £1.613 trillion at the end of November 2018. This is up from £1.569 trillion at the end of November 2017, an extra £898.71 per UK adult and £78.15 higher than the previous month. The…
Read moreOur Power, an energy supplier with about 38,000 domestic customers, has ceased to trade. Under Ofgem’s safety net, the energy supply of Our Power’s customers will continue and pre payment meters can be topped up as normal. The outstanding credit balances of domestic customers will be protected. Ofgem will choose a new supplier to take…
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UK Finance has published its Household Finance update for December 2018 which have revealed that over £11 billion spent on credit cards which showed an 8.8 per cent increase when compared with the same month the previous year. The outstanding level of credit card borrowing grew by 4.7 per cent in the twelve months to December. Personal…
Read moreThe Payment Systems Regulator (PSR) has published its final terms of reference for a market review into the supply of card-acquiring services. Card payments are an increasingly important payment method, with debit cards becoming the most frequently used payment method in 2017. For businesses to accept card payments, they need to buy card-acquiring4 services. The cost of…
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Almost half of finance professionals (45%) regard big data as the most influential trend in the financial sector, according to the Onguard’s FinTech Barometer survey. Despite more than one-third of respondents (36%) expecting big data to impact employment, very few think it will actually lead to job losses. In fact, more than three-quarters of finance…
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