Credit, Collections & Insolvency News
A Director of three Birmingham debt management companies has banned for 12 years after he failed to ensure companies provided regulated advice to their customers. Delroy Roberts, from Birmingham, was a director of three debt management companies: Haydon Associates Debt Management Consultants Limited, Sterling Financial Security Limited and Clear View Finance Limited. He was appointed…
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A fear of discussing death is leading to a lack of later life planning across the nation, as two fifths (41%) of people haven’t put any financial plans including wills, funeral plans and lasting power of attorneys in place. New research by the Co-op has launched the biggest ever survey into death, dying and bereavement. The survey which received…
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British Gas has paid £2.65 million in refunds, compensation and redress after it misinformed customers by issuing incorrect terms and conditions about exit fees. It was also found that British Gas had wrongly charged them to some customers and applied incorrect charges to others after their fixed deal came to an end. An Ofgem investigation…
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“Innovation leads, regulation follows” so said consultancy firm Deloitte in a recent report. Another way of putting it is that regulation follows technology. And this couldn’t be more true than with the Fifth Anti-Money Laundering Directive (AMLD5), adopted by the European Parliament in April this year. The directive is an extension of the last iteration,…
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The total number of county court judgments (CCJs) registered against consumers in England and Wales fell year-on-year for the first time in five years during the first half of 2018, according to figures released by Registry Trust. During Q1 and Q2 2018, 571,555 judgments were registered against consumers in England and Wales, falling four percent…
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UK Finance has published its July Household Finance update indicating that gross mortgage lending for the total market in July was £24.6bn, some 7.6 per cent higher than a year earlier. Commenting on the data, Peter Tyler, Director at UK Finance, said “July saw steady growth in gross mortgage lending, driven largely by remortgaging as homeowners locked…
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People in the poorest third of households have accounted for over half of the increase in employment since the start of the financial crisis, according to new analysis published by the Resolution Foundation. The analysis, which looks at how close Britain is to full employment, shows that of the 2.1 million increase in employment between…
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New research from Admiral Car Finance has revealed that the desire to match what’s seen on social media extends beyond personal image and fashion choices, to the cars we choose to drive. And this may have financial implications on younger generations too, as over half of drivers aged 19 – 36 (53%) admit to feeling pressure…
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Credit and eligibility experts TotallyMoney have partnered with the UK’s first online mortgage broker Trussle to offer customers a free and seamless way to get a mortgage online. The partnership builds on TotallyMoney’s success as a Free Credit Report provider and credit card and loan comparison specialists. By integrating Trussle’s mortgage broking service, TotallyMoney now…
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The Central Bank of Ireland had released its latest credit and debit card statistics for Q2 2018. The figures show that the total number of debit cards in issue rose to over 5 million in June 2018, the highest number since the series began in January 2015, although approximately 685,000 of these debit cards are not…
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Latest figures from UK Finance’s Mortgage Trends update for Quarter 2 2018 show a continued growth for UK remortgaging with London remortgaging activity reaching a nine-year high. Commenting on the data, Jackie Bennett, Director of Mortgages at UK Finance, said “Remortgaging in London reached its highest level in nine years in the second quarter of this year, as…
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Aldermore has announced that it has appointed Damian Thompson as its new Director of Retail Mortgages. Damian has worked in financial services for the last 27 years starting his career with HBOS and then across senior roles in Principality and Newcastle Building Society. At Newcastle, he was Customer Director and a member of the Board. He…
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Personal insolvencies are on track to hit 105,000 per annum by 2022, breaking highs last seen six years ago, according to the latest econometric forecast from Arrow Global’s ‘Debt Britain 2018’ research. Analysis shows that personal insolvencies have been on the increase since 2015 and rising interest rates on the back of the Bank of…
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