Credit, Collections & Insolvency News
The Office for National Statistics (ONS) has released its latest Quarterly Gross Domestic Product (GDP) figures with first estimates suggesting that the economy grew by 0.4% quarter on quarter in April to June (equivalent to a 1.3% year-on-year increase). Commenting on the results Markus Kuger, Senior Economist at Dun & Bradstreet said “Today’s data release is…
Read moreThe Cheque and Credit Clearing Company (C&CCC), which supports the paper clearing system for cheques and credits as well as the Image Clearing System, has appointed Alan McDonald as its first General Manager. McDonald previously held the roles of Managing Director and Director of Planning, Finance and Risk within the C&CCC. He has been with…
Read moreConsumer awareness and incentive remain vital to Open Banking success according to Equifax. It now two years on from the Competition and Markets Authority (CMA )market review which initiated Open Banking. Jake Ranson, banking and financial institution expert and CMO at Equifax said “Open Banking was established to encourage competition. It’s well known that current account switching remains…
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European credit management specialist Cabot Credit Management (Cabot), has announced the financial results for the six months ending 30th June 2018. Commenting on the figure Ken Stannard, Chief Executive Officer, Cabot Credit Management, said As Encore announces the completion of its acquisition of the remaining interest in Cabot Credit Management, our company has yet again delivered…
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Leeds Building Society has appointed Nick Young as its new Director of Business Transformation to further enhance member and colleague experience. Young has a background in commercial management and strategic change delivery. He joins the Society from Lloyds Banking Group customer products team where he was responsible for successfully delivering a number of high-profile change…
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The latest RICS UK residential market survey suggests that supply issues could lead to rents increasing by 15 per cent by the middle of 2023. The most striking feature of the July 2018 survey is the continued reduction of new property being put on the market in the lettings sector with 22% more respondents seeing…
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Nearly 1 in 10 UK adults (9%) have been defrauded via their debit or credit card in the last year, equating to 4.7 million people across the country. This is according to a poll of 2,000 UK adults commissioned by Compare the Market, which found that nearly 5 million people have had their credit card,…
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Latest figures released by UK Finance has shown that mortgage arrears and possessions are continuing to decline. The figures indicate that there were 76,740 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance in the second quarter of 2018, 8 per cent fewer than in the same quarter of the…
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A new study from LV has revealed that people in their early thirties are putting off life milestones such as having children or buying a home, due to being one of the least financially resilient groups in the UK. A quarter (24%) of the 30-35-year-olds in the study, of which there are 4.7 million in the…
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British Gas has announced that it will increase its energy prices for 3.5 million customers for the second time this year. The 3.8% increase in its standard variable tariff (SVT) from 1st October means the average bill will rise by £44, taking it to £1,205 a year. This follows a previous price rise of 5.5%…
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Computershare Loan Services has donated a total of £5,000 to Turn2us and Citizens Advice Maidstone to fund projects supporting people experiencing financial hardship in the second round of funding from its Loan Services Charity Donation Fund. Turn2us will receive £1,500 to fund three workshops for workers and volunteers to help them better assist people in…
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The Financial Conduct Authority (FCA), in collaboration with 11 financial regulators and related organisations, has announced the creation of the Global Financial Innovation Network (GFIN), building on the FCA’s proposal earlier this year to create a ‘global sandbox’. The network will seek to provide a more efficient way for innovative firms to interact with regulators,…
Read morePolish Credit Union UK has been placed in administration. In an announcement on the company website, the Credit Union said that Dean Watson and Paul Stanley of Begbies Traynor have been appointed as Administrators. Polish Credit Union UK was launched in 2013 and has 500 members under its name. The union has been declared in…
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