Credit, Collections & Insolvency News
Experian has launched the first affordability check for gaming websites, The new service which will assist in ensuring people gamble affordably. The affordability check can be made at the most appropriate point for customers, such as when there is a change in their account behaviour or specific behaviour may indicate an increased risk. A total…
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The Financial Conduct Authority (FCA) has published new data on insights and trends in the high-cost short-term credit (HCSTC). The data indicates that lending volumes in the market remain well below the levels seen in 2013, but have risen since 2016. Over 5.4 million loans were made in the year to 30 June 2018, with 10…
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Complaints about payday lenders in have increased as concerns about the solvency of firms and lax lending practices in the sector persist according to the Financial Ombudsman Services (FOS) Caroline Wayman, Chief Executive of the Financial Ombudsman Service (FOS) said the state watchdog typically deals annually with around 100,000 complaints that financial firms have not…
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A new Tenant Fees bill has passed its final stage in Parliament before royal assent, the new bill will stop renters being forced to pay £160 million a year in unfair and uncompetitive fees according to Citizens Advice. Citizens Advice says it has called for a ban on fees for the past decade and worked…
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The latest statistics from Accountant in Bankruptcy (AiB) have highlighted a 10% rise in bankruptcies with an overall increase in Scottish personal insolvencies continuing to be driven by growth in the protected trust deed (PTD) market. In the third quarter of 2018-19 covering the period 1st October to 31st December, there were 1,981 PTDs in…
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Consumer credit firm Omni Capital Retail Finance has agreed a partnership to use an automated decisioning platform (ADP) from LendingMetrics. The finance provider, which is owned by Castle Trust Capital, has chosen Lending Metrics’ ADP platform to support its OmniPort credit approval system, which allows customers to purchase immediately at point of sale using a paperless…
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Dudley Building Society has announced the appointment of Samantha Ward as Head of Commercial. As well as taking responsibility for business development, Ward will take on marketing, growth and product strategy duties. Having joined Dudley in 2001 as a mortgage assistant, Ward subsequently worked as head of savings, strategy and change and most recently Head…
Read moreAutomated payments hit an all-time high in 2018 with brand new annual, monthly, and daily records set. Bacs Payment Schemes Limited (Bacs), owned by leading retail payments authority Pay.UK, processed a mammoth 6.4 billion transactions worth just shy of £5 trillion across the year. That continues more than a decade of growth – back in…
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Qualco, a provider of asset management software and solutions to the credit industry, has announced a partnership with Harlequins rugby club so that it can engage with a wider audience, enhance brand recognition and raise awareness of the link between financial hardship and mental well-being. Christian Jacob, Managing Director at Qualco, said: “The Qualco Panel…
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Credit reference agency and information solutions provider TransUnion (formerly Callcredit), has announced today the appointment of Satrajit “Satty” Saha as its new Chief Executive Officer (CEO). Outgoing CEO Mike Gordon will remain with the business as an adviser until the end of March 2019 to ensure a smooth transition of responsibilities. Prior to joining TransUnion’s…
Read moreRenting became more affordable in 2018 thanks to a combination of a once-in-a-decade fall in annual rents and wage inflation, according to The Deposit Protection Service (DPS). 2018 was the first calendar year since the global financial crisis of 2008 that average rents decreased in the UK, with the percentage of wages spent on rents…
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Consumers are starting 2019 with outstanding borrowing from 2017, with 3.1 million people still paying for Christmas 2017 according to a new study by Sainsbury’s Bank Credit Cards. The study found more than a quarter (27%) of people have debt remaining from two years ago. This New Year, UK adults still owe money from 2017…
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Glasgow based debt advice firms, Creditfix and Carrington Dean have pledged their support to Shelter and Glasgow Children’s Hospital Charity, with a raft of fundraising activities planned for 2019. Each year, 173,000 babies, children and young people are treated at the Royal Hospital for Children in Glasgow. Through its partnership with Carrington Dean, Glasgow Children’s…
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