Credit, Collections & Insolvency News
European Private Equity firm AnaCap Financial Partners has announced that it has acquired a corporate debt and loan portfolio from Slovenia’s second-biggest bank Nova KBM. The acquisition portfolio consists of semi-performing or non-performing credit assets comprising primarily consumer, small and medium-sized enterprises and mortgage debt across Europe. In a company statement Anacap said, “In addition to completing…
Read more
Working people claiming universal credit are having their benefits capped when they shouldn’t be, and losing the effects of ‘work allowances’ worth up to £258 per month simply because of the dates on which their paydays and universal credit ‘assessment periods’ happen to fall, according to new evidence from Child Poverty Action Group (CPAG). The…
Read more
Most (77%) UK consumers have made a contactless payment in the last year, with over 19 million (37%) now saying contactless is their first-choice payment method for purchases under £30, according to new research, commissioned by GoCompare Money. The research reveals that 77% of people (40 million) have made a contactless payment in the last 12…
Read more
The total council tax owed in England has risen by 6.6% in the past year. The Ministry of Housing, Communities & Local Government figures show that in 2017-18 local authorities collected a total of £28.0 billion in council tax, irrespective of the year to which it related. This was an increase of £1.4 billion, or…
Read more
The number of debt decrees registered against Scottish consumers has risen by 20% during the first half of 2018, according to latest figures released by the Registry Trust. During Q1 and Q2 2018, 13,190 debt decrees were registered against Scottish consumers, 20 percent more than in the first half of 2017. This combined with an…
Read more
The total number of defaults and small claims judgments issued in Northern Ireland during the first half of the year rose to the highest levels since 2012, according to figures released today by Registry Trust. However, the percentage of judgments marked as satisfied was just a fifth of the percentage satisfied in England and Wales…
Read more
RBS has announced that it has appointed Bruce Fletcher as its new Group Chief Risk Officer, subject to final regulatory approval. Fletcher is currently Chief Risk Officer for HSBC’s Global Retail Banking and Wealth Management business. He will replace David Stephen, who is moving to Westpac following an orderly handover of his responsibilities. RBS Chief…
Read moreNatWest has confirmed that debit card payments were not working for two hours yesterday. A spokeswoman for the bank apologised to those affected and said none would be left out of pocket. In response to the news Sam Murrant, Senior Payments Analyst at GlobalData, said “The payments industry is increasingly moving towards an assumption that…
Read moreIrish bank permanent tsb (PTSB) has announced that it has agreed to sell a Non-Performing Loan (NPL/) portfolio to retail credit firm Start Mortgages DAC supported by LSF Irish Holdings 97 DAC, both affiliates of the Lone Star Funds. Start Mortgages has been authorised by the Central Bank of Ireland since November 2008 and will become the…
Read more
In the past two years, government bodies in Northern Ireland accounted for a larger proportion of debt judgments than lenders, according to the latest figures released by Registry Trust. Governmental organisations took to court 34 percent of judgments issued for the top 50 claimants during 2016 and 2017; lenders accounted for 33 percent. Housing organisations…
Read more
The number of consumer debt judgments registered in the Republic of Ireland fell to the lowest total since modern records began in 2008, during the first half of the year, according to figures released today by Registry Trust. Nine hundred and thirty judgments were issued against consumers during Q1 and Q2 2018, 17 percent fewer…
Read more
Homeowners could see their mortgage bills rise by around £400 a year following the Bank of England’s decision to raise interest rates, analysis from Experian reveals. The Bank of England’s Monetary Committee has announced it is hiking base rate to 0.75%, the first rise since last November, The 0.25% rise will see those on Standard…
Read more
The number of debt judgments marked as satisfied in Jersey almost halved during the first half of 2018, according to figures released today by Registry Trust. In Q1 and Q2 2018, a total of 895 debt judgments were made, four percent fewer than during the same period last year. Despite falling in number, the total…
Read more