Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the point of sale (POS) consumer new car finance market grew by 9% in August, compared with the same month in 2017, while the value of new business was up by 14% over the same period. The percentage of…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance second charge mortgage market reports volumes up by 6% in August Commenting on the August 2018 new business figures for the second charge mortgage market, Geraldine Kilkelly, Head of Research and Chief Economist at the Finance & Leasing Association (FLA), said…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in August grew by 10% compared with the same month last year. Credit card and personal loan new business together grew by 9% compared with August 2017, while retail store and online credit new business increased by 7%. Second…
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Toto Energy and Solarplicity have come bottom of the Citizens Advice customer service star rating, raising more concerns about the performance of some smaller and newer energy suppliers. Toto Energy received a score of 1.45 for the period from April to June 2018, down from a score of 1.6 the previous quarter. Toto Energy had…
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New statistics published by StepChange Debt Charity have laid bare the alarming scale and changing nature of problem debt in the UK. They show that 326,897 people contacted the charity for help with their debts in just the first six months of 2018. Of the 180,644 who received full debt advice and a recommended debt…
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Morses Club the UK’s second largest home collected credit lender, has announced its interim results for the twenty-six-week period ended 25 August 2018. The company says its pre-tax profits will hit £10 million. Pre-tax profits rose from £6.7m in the same period last year to £10m in the latest period of trading, while statutory revenues…
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Loans management and credit technology company, Equiniti Credit Services, has announced that it has recruited a further 15 software engineers to provide two additional Scrum teams specialising in C#.Net and Java and is actively looking to recruit more. The company is moving into Azure Public Cloud for hosting all aspects of its technical operations, including…
Read moreBusiness services and software managed services specialist Civica Group has acquired case management software specialist iCasework. Based in London, iCasework specialises in SaaS applications for case management, providing cloud software for enterprise complaints management, correspondence management and information request handling including in support of GDPR. Its products are used by more than 100 customers in the…
Read moreIn its state of the nation report, Poverty in Scotland 2018, the Joseph Rowntree Foundation (JRF) has warned that one in four (230,000) children in Scotland live in poverty. The report comes as Challenge Poverty? Aye we can! gets underway, a campaign by the Poverty Alliance which shows how poverty in Scotland can be solved and allow everyone to take part…
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A specialist financial services advisory team has advised on a landmark legal case in which the director and insolvency practitioner of a major insolvency practitioner business was found to have acted negligently in his capacity as director, and dishonestly in his capacity as office holder appointed in respect of IVAs administered by the business. Following…
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New online research from Equifax has revealed nearly one third (31%) of people believe they won’t be able to pay off debt within their lifetime, and over one in 10 (12%) say they won’t even be able to reduce their debt levels. The survey, conducted with Gorkana, indicates those aged 18-24 are the most pessimistic about…
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Latest Bank of England consumer lending figures have been revealed which show that household borrowing growth moderated slightly in August. Annual consumer credit growth slowed to 8.1%, while secured lending growth ticked down to 3.1%. The number of approvals for remortgaging, which has been volatile in recent months, increased to 53,125 in August. Net finance…
Read moreOver 1.5 million renters across the UK could be at risk of losing their deposits after new research from comparethemarket.comreveals that one third (33%) of renters know that their landlord has not placed their money into a Government-backed deposit protection scheme (DPS). Despite the legal obligation which requires landlords to put deposits into schemes such…
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