Credit, Collections & Insolvency News
Over half (55%) of corporate business teams have increased the size of their compliance teams in response to the mounting regulatory pressures that have emerged over the last five years, according to a new study commissioned by Intertrust, a global service providing expert administrative services to clients operating and investing in the international business environment.…
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New research from innovative equity release lender more 2 life has revealed that nearly a third (28%) of adult children (aged 30-55) have never discussed their parents’ financial circumstances as a family. These people describe their family as being ‘very private’ about their personal finances, suggesting that money matters are rarely or never discussed as a family.…
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Anchor Computer Systems has completed the acquisition of the award-winning Managed Services business of VTG Cloud. The seven-figure deal enables Anchor to significantly enhance the range of services it is able to provide. The acquisition includes the assets and contracts related to the Managed Services side of VTG Cloud. VTG Cloud will continue to operate…
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Provident Financial, expects its full-year results for 2018 to be on the “lower end” of market expectations. The prediction as was made as part of the company’s trading update for the financial year ending 31st December, the company said profits are anticipated to be at lower end of the range of market expectations of £151m to…
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Personal insolvency provider Creditfix has strengthened its ability to help even more people across the country struggling with money, following the acquisition of a Birmingham-based debt management business. Creditfix has expanded its comprehensive range of debt relief solutions by acquiring B2C Finance Ltd, trading as ‘Back2Credit’, a well-established debt advisor based in Birmingham, a move,…
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New figures released by the Finance & Leasing Association (FLA) show that the point of sale (POS) consumer car finance market fell by 1% in November, compared with the same month in 2017. The percentage of private new car sales financed by FLA members through the POS was 91.2% in the twelve months to November.…
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Ofgem has appointed Ovo Energy to take on supplying Economy Energy’s 235,000 domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers. Ovo Energy will absorb all of the costs of honouring customers’ credit balances and the migration of customers. Customers of Economy Energy will be contacted…
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New figures released today by the Finance & Leasing Association (FLA) show second charge mortgages increased by 21% in November. Commenting on the November 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said: “The market has reported a…
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Cardstream has announced a fraud prevention alliance with Gala Technology, aimed at protecting thousands of embattled Card Not Present Mail Order Telephone Order (CNP MOTO) merchants. By embedding Gala’s SOTpay technology into its Merchant Management System, Cardstream has ensured that its rapidly expanding network of reseller Partners and tens of thousands of merchants will have…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 2% in November, compared with the same month in 2017. Credit card and personal loan new business together grew by 1% compared with November 2017, while retail store and online credit new business increased by 2%. Second…
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In the past six months, there has been a slew of reports calling for a fundamental change to public sector – and particularly council – collections. From the Treasury Select Committee to Citizens Advice and the Money Advice Service, the message is that the public sector needs to alter its approach. The disparity between the…
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The Financial Conduct Authority (FCA) has revealed plans to free ‘mortgage prisoners.’ Mortgage prisoners are defined by around 140,000 homeowners are trapped on loans with high interest rates. The plans were revealed by the FCA’s Chief Executive Andrew Bailey’s letter to the Treasury Committee on improving switching options for mortgage customers who are currently unable to do so,…
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The European non-performing loan (NPL) market reached a new peak in 2018 with disposals totalling EUR 205.2bn in gross book value (GBV), according to the new European NPL FY 2018 report, published by Debtwire ABS. Debtwire NPL Database tracked 142 transactions. The last quarter saw a particularly intense pace of activity, given that at the…
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