Credit, Collections & Insolvency News
The United Kingdom has a well-developed and robust regime to effectively combat money laundering and terrorist financing. However, it needs to strengthen its supervision and increase the resources of its financial intelligence unit according to a new report by the Financial Action Task Force (FATF)/ The report was an assessment of the United Kingdom’s anti-money laundering and counterterrorist…
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Energy specialist, OneSelect has come bottom in the latest Citizens Advice’s star rating table, which ranks the customer service levels of energy suppliers. The ratings look at a range of measures including complaints levels, call waiting times, the timeliness and accuracy of billing and whether switches take place on time. It includes 34 firms (serving…
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Millions of Brits are worried about the cost of Christmas this year, with half revealing they plan to borrow money just to cover expense, a new study has found. While most will budget just £449 for the festive period – the reality is that we’ll each spend up to a whopping £1,086 on presents, food…
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Employers are finally getting to grips with the Apprenticeship Levy, a new survey from the IoD has revealed, with over half of employers who use the system now saying they understand it ‘perfectly’, a 42% increase since March (from 36% in March to 51% in November). However, the poll of business leaders revealed that awareness…
Read moreQualco UK’s annual charity golf tournament has raised £1,200 for charities Princess Alice Hospice and the Campaign against Living Miserably (CALM). The tournament took place at the historic St. George’s Hill Golf Club on Friday 23 November in Surrey. The course is rated 32nd in the 2018 Golf Digest ‘World’s 100 Greatest Golf Courses’ ranking.…
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The Financial Conduct Authority (FCA) has published findings on how mortgage lenders treat customers who have long-term mortgage arrears and provide forbearance to affected customers. The FCA had previously identified that there was a trend of increasing long-term arrears cases, whilst the number of homes being repossessed had been falling. As a result of this…
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Charity, Action for Children has warned that the UK risks ‘Dickensian’ levels of poverty as a new analysis of official government data¹ shows a million children under 10 years old face a desperate Christmas this year. The Charity says that ss other young children spend December writing their Christmas wish-list to Santa, a million under-10s from low-income…
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One-in-five people (22 percent) say they have previously borrowed money from friends and family to help pay for Christmas even though the majority are embarrassed about asking, a new survey reveals. The research, commissioned by Curve, examines how people in the UK plan to finance their spending this holiday season. The results expect the average…
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The value of residential mortgages written off by banks and building societies has increased by 58% in the last year, jumping from £77 million to £122 million in the year to 30 June 2018 according to new analysis by Moore Stephens. Moore Stephens says the increase could be an early sign of distress in the…
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According to the Joseph Rowntree Foundation’s UK Poverty 2018 study, water arrears weighs heaviest on the poorest families – ahead of other debts including council tax, rent and energy bills. The findings echo the concerns of the Consumer Council for Water (CC Water) which has been pressing water companies to do more to ensure financial support reaches the…
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KBC Bank of Ireland has completed the sale of €1.9 billion worth of mostly non-performing buy-to-let and corporate loans that were held by its Irish unit, to Goldman Sachs. The sale, first announced in August, will have a positive impact on KBC’s profit and loss account. It will reduce KBC’s non-performing loan ratio, according to…
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Young people whose parents have property wealth are now almost three times as likely to be homeowners by the age of 30, compared to those whose parents have no property wealth, according to Resolution Foundation research. With the ‘Bank of Mum and Dad’ now considered to be a key lender for first-time buyers, House of the…
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Hitachi Capital has presented The Royal Brompton and Harefield Hospital charity with a cheque for £33,000 following a grueling four-day cycle from the UK to France. After vigorous training in the months before the 14 man team were waved off by staff from Hitachi Capital’s offices in Staines-Upon-Thames on Thursday 20th September. Over the course of…
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