Credit, Collections & Insolvency News
Financial fears are creeping into sleeping hours, according to new research by Royal London which shows money worries are a top cause of nightmares. Two in five (41%) people said money makes them anxious, which can have a big impact on the subconscious. One of the most common types of dreams is teeth falling out…
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New data published by the Financial Conduct Authority (FCA) as part of its annual report has revealed that 0.3 per cent of borrowers has failed to make their mortgage payments within six months of taking out their loan. This figure compares to 0.25 per cent of households falling behind on their payments after six months…
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The Resolution Foundation has published its annual report analysing living standards in the UK. The report estimates how household incomes have performed over the past year, producing a ‘nowcast’ of the figures before the official data is released. Key findings from the report include: An estimate that typical incomes increased by just 0.9 per cent…
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The Credit Services Association (CSA) has been shortlisted within The Association Excellence Awards 2018 for its work in promoting the quality and professionalism of its members in supporting customers in debt and returning monies to the UK economy. A panel of 20 senior figures from UK-wide trade associations have identified the CSA as one of…
Read moreEuropean debt purchasers Intrum has announced its latest quarterly results. Mikael Ericson, President and CEO for Intrum said “We are pleased with a strong second quarter and are delivering gradually improving results across all areas of the business: solid investment level whilst maintaining returns, pricing discipline, excellent collection performance, hitting the improved synergy targets, improving…
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The National Audit Office (NAO) has said that the government has lost more than £600m in revenue from selling student loans “too cheaply.” According to the NAO report, the government’s sale of its first batch of student loans was carried out efficiently, but its method for determining whether the sale would secure value for money…
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The HM Courts & Tribunals Service (HMCTS) has announced the results of the tender process for Approved Enforcement Agency Services. The provider companies appointed are Capita Business Services, Excel Civil Enforcement, Jacobs Enforcement and Outsourcing UK. In 2017 HMCTS commenced a procurement exercise to re-tender the Approved Enforcement Agencies contracts. Approved Enforcement Agencies act on behalf of…
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The government has confirmed that the domestic gas and electricity (Tariff Cap) bill has received royal assent. The bill will impose a temporary cap on the price of all default tariffs in the energy market until at least 2020. Commenting on the announcement Gillian Guy, Chief Executive at Citizens Advice, said “The energy price cap will…
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The Competition and Markets Authority (CMA) has raised concerns that Experian’s purchase of ClearScore may reduce competition for people who want to check their credit score. ClearScore and Experian are the first and second-largest providers of free credit score checking in the UK. Experian is also the largest paid credit score checking provider. Millions of…
Read moreUK Finance has publishes its annual mortgage lenders data for 2017. In an accompanying blog it addressing the underlying trends revealed by the data, highlighting the growth in lending by challenger and specialist lenders. The mortgage data showed that in 2017 a gross total of £257bn in lending was completed by its members, up 4 percent on…
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Gatehouse Bank has announced the appointment of Karen Faulkner to the key role of Head of Home Finance Operations. Reporting to Tim Blease, COO at Gatehouse Bank, Karen is based in the Bank’s Milton Keynes office and via her teams of case managers and underwriters is responsible for the customer application journey, through to the…
Read moreMore than half of consumers have never checked their eligibility when applying for a credit card, loan or mortgage, new research from Experian reveals. Each time someone makes an application, a “hard search” is recorded on their credit report which could impact their credit score and reduce their chances of getting accepted for the best…
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Almost nine in 10 local authorities are not monitoring their supply chain and therefore ensuring getting paid within 30-days, breaching Whitehall regulations to ensure prompt payment. The research has revealed the minimal effort that local authorities have focused on prompt payment. The research by construction trade body, the Electrical Contractors Association and Building Services Association (BESA), obtained…
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