Credit, Collections & Insolvency News
The Bank of England has released its latest Money & Credit data indiating that consumer credit increased by £0.9 billion in October, similar to the previous few months, but below much of the period since 2016. Mortgage market activity remained broadly stable in October. The flow of mortgage lending increased to £4.1 billion in October…
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According to new research, one in ten consumers will put the whole cost of Christmas on their credit card. The research by GoCompare Money, has found that the average British household expects to spend £719 on Christmas festivities this year. Collectively, the Nation will splash out £19.5 billion on gifts, food and drink, parties and Christmas…
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Pay.UK has announced the appointment of Nathalie Oestmann as a new Non-Executive Director to its board. Nathalie Oestmann works at IDEMIA – a world leader in digital security and identification technologies – where she is Senior Vice President of Global Innovation Strategy, Marketing & Partnerships/M&A for the Financial Institutions Business Unit. Oestmann has extensive international…
Read moreShoosmiths has appointed Gemma Napper as Partner to its national financial services team. Napper completed her training contract at Shoosmiths in 2004, qualifying into a corporate role, later specialising as a financial services lawyer. In 2009 she joined Arthur Cox in the firm’s banking team, before leaving to work in-house at Opel Vauxhall Finance. For…
Read moreVoucherCodes.co.uk, has discovered almost half of students (47%) have less than 10% of their loan remaining following Christmas celebrations with family and friends, causing over a third (36%) to confess they need to borrow money from their parents until they receive their next student loan. With the average student expecting to spend over £140 so…
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The Competition and Markets Authority (CMA) has published its concern that Experian’s takeover of start-up rival ClearScore could stifle product development and impact customers. The CMA’s Phase 2 investigation has provisionally found that Experian’s takeover of ClearScore is likely to result in less intense competition, potentially harming the continued development of digital products which help…
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The Credit Services Association (CSA), the voice of the UK debt collection and purchase industry, has appointed Zoe Dellow as its new Senior Learning & Development Consultant to further drive the CSA apprenticeship programme. Dellow will be working with members and the wider industry on the Association’s Learning & Development (L&D) initiatives to ensure a…
Read moreA director of three ‘mortgage support’ companies has been banned by the courts for nine and a half years after taking advantage of customers looking for urgent help with mortgage arrears. Daljit Dhillon, from Sutton Coldfield, appeared at the High Court in Birmingham on 13th September 2018 where an order was made to disqualify her…
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Ofgem has appointed Ovo Energy to take on Spark Energy Supply’s 290,000 domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for the customers of Spark Energy Supply, which announced it was ceasing to be a supplier on Friday (23 November 2018). Separately, Ovo Energy has acquired Spark…
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European credit management firm Intrum, has published a new European Consumer Payment report based on a survey with responses from 24 398. European consumers. Intrum, who are in contact with 250 000 indebted consumers around Europe every day, sees a widening gap in the wake of a rising economy. While more and more people are able…
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Accountancy and business advisory firms, BDO and Moore Stephens LLP, are in advanced merger discussions to create a market-leading firm. The new firm will be the leader in advising the UK’s entrepreneurial mid-sized businesses but will also challenge its larger competitors for more complex audit, tax and advisory work. The proposed deal further cements BDO’s…
Read moreA nationwide survey has discovered, every year more than half of us (57 percent) are given presents we will never even remove from the packaging. In fact, according to the report, from underwear to smellies and novelty gifts, each of us will receive three unwanted gifts worth £26 every year, totalling a £1.4 billion UK…
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UK Finance has released its latest household finance update for October 2018 which has revealed that £11.3 billion of credit card spending in October was 12.1 percent higher than last October. Over the past twelve months, the outstanding level of credit card borrowing grew by 5.7 percent. Whilst personal borrowing through loans and overdrafts grew by…
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