Credit, Collections & Insolvency News
The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has confirmed Matt Forde – the ex-political advisor turned writer and comedian – as the compere for this year’s Credit and Collection Technology Awards, as part of the UK Credit and Collections Conference Gala Dinner taking place on 13…
Read moreCredit risk analytics specialist, Jaywing has announced a partnership with Hitachi Capital Consumer Finance. The Hitachi Consumer Finance division has appointed Jaywing to explore the potential to significantly improve its existing application credit scores using Jaywing’s AI modelling technology, Archetype. Hitachi Capital Consumer Finance wanted to understand the uplifts that may be possible through using…
Read more
People are increasingly struggling with ‘smaller but trickier’ debts on everyday household bills, according to new figures from National Debtline, run by the Money Advice Trust. The charity expects the number of calls to National Debtline to hit 189,000 by the end of the year – the highest level in five years – with webchat…
Read more
The Central Bank of Ireland’s latest money and banking latest statistics from July 2018 indicate that loans to households for house purchase increased by €63 million on a net basis in July. The annual growth rate continues to trend upwards, rising to 0.8 per cent in July, representing the ninth consecutive month of positive growth.…
Read more
Wonga Group and WDFC UK have decided to place themselves into administration. Insolvency Practitioners from Grant Thornton are in the process of being appointed as administrators to manage the firms’ businesses and affairs. An announcement on the website said “A decision has been taken to place Wonga Group Limited, WDFC UK Limited, Wonga Worldwide Limited…
Read more
The annual growth rate of consumer credit slowed in July, to 8.5% but remains elevated relative to 2009-12 according to the latest lending figures from the Bank of England. Households borrowed an additional £3.2 billion secured against their homes in July. Net lending has been relatively stable over the past year but this was the lowest…
Read moreHome credit specialist, Morses Club has provided its latest trading update for the 26-week period to 25 August 2018. The company has reported a 4.3% rise in the credit it issued during the first half of 2018. Trading in line with the Board’s expectations with total credit issued increased to £85.7m compared to the same period last year (H1…
Read more
Britsh consumers are more confident in their own finances than the country’s according to Lloyds Bank latest spending power report has shown. The survey found that almost half (46%) of people lack confidence in the UK’s current employment situation, yet 81% are comfortable with their own job security. Likewise, 54% report a gloomy outlook on inflation…
Read more
Debt purchaser,Arrow Global Group has announced its results for the period ended 30 June 2018. Commenting on the results, Lee Rochford, Group chief executive officer of Arrow Global, said “Momentum at Arrow remains strong. Our broad sourcing capabilities and operating platform have enabled the Investment Business to continue to achieve consistent returns, with unlevered net IRRs…
Read more
Debt Purchaser, Lowell has announced its Q2 2018 Results, for the period ending 30 June 2018. The quarter has delivered continued growth across all key metrics – reinforcing the Group’s ability to achieve sustainable growth through strategic investment and diversification, unmatched data insight and customer focus. James Cornell, Group CEO, said: “I am very pleased…
Read more
More than a third of UK young people think they will still be in debt by the time they’re 40, as they report worsening debt levels, finds Young Women’s Trust. The charity, which helps young women on low or no pay, surveyed more than 4,000 young people with Populus Data Solutions to find that one…
Read more
Debt Purchaser, Intrum has announced that it is reorganising its regional structure combining Spain, Portugal and its newly acquired unit in Brazil, communicated in the Interim Report 24thof July, into a new region to be called – Iberian Peninsula and Latin America. The new Intrum region takes shape based on the strong cultural, historically and…
Read more
The Competition and Markets Authority (CMA )has announced that it has provisionally found that the proposed merger between SSE Retail (SSE) and Npower does not raise competition concerns. An inquiry group of independent Competition and Markets Authority (CMA) panel members has investigated how the merger would affect householders, following initial concerns about the potential impact on ‘standard variable tariffs’…
Read more