Credit, Collections & Insolvency News
Credit reference agency, Callcredit has announced the change of its brand name to TransUnion, after being acquired by the leading global risk and information solutions provider in a £1 billion deal last month. As a phased integration process begins, UK businesses and consumers will start to become familiar with TransUnion, which already has a presence in…
Read moreThe Financial Conduct Authority (FCA) has called for considerate use of big data, artificial intelligence and machine learning algorithms in financial services. The FCA is urging firms to use the technologies in a way that is not detrimental to customers’ trust. Speaking at a Reuters event earlier in the week, Charles Randell, FCA payment systems…
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The Money Advice Liaison Group (MALG) has announced that is looking for a new Chair. Current MALG Chair Liz Barclay will step down later this year after three years in the role. MALG says the new Chair must be passionate about improving the lives of people in problem debt; someone with influencing skills and ambition to…
Read moreA further 67 companies have signed up to HM Treasury’s Women in Finance Charter, including J.P. Morgan, Bupa, Admiral Group, Equifax, Investec Asset Management, and Yorkshire Building Society, taking the total number of signatories to 272. This means that the Charter now covers over 760,000 financial services employees in the UK. John Glen, Economic Secretary to…
Read moreThe National Housing Federation, the Scottish Federation of Housing Associations, Community Housing Cymru and the Northern Irish Federation of Housing Associations, are joining together to warn that the Universal Credit system is “flawed” and causing debt, suffering and hardship for the families they house. Together these organisations represent more than 1,000 housing associations housing over…
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The head of Ireland’s debt management agency has issued a stark warning about the country’s indebtedness, saying the bank stakes should be sold down sooner rather than later. National Treasury Management Agency (NTMA). Chief Executive Conor O’Kelly said that we are reaching the peak of the investment cycle and the risk of a material fall…
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Target Group has announced it has exclusively partnered with Information Builders, a leading business intelligence, analytics and data management platform provider, to build out and enhance its data capabilities and service offerings. Initially a two-year deal, Target will have full access to Information Builders’ extensive data platform to drive business process efficiencies, while also giving…
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A new survey from Aegon shows that 14% of people think they will still be paying their mortgage at age 70. The research says that traditionally, mortgages were paid off well before typical retirement ages but new research from pension and investment company Aegon has found that 14% of people believe they will still be…
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Conal Furie has been appointed as Head of IT and Digital at Startline Motor Finance, taking charge of all of the company’s technology operations. Furie has almost a quarter century of working in IT in the motor retail sector, having started his career as an IT support specialist at Lex Retail Group in 1992. Notable…
Read moreOne-in-five (22%) British adults have had an outstanding credit card balance for at least six months, including the 4% of British adults who have had an outstanding balance for over five years, according to a survey of over 2,000 British adults by insolvency trade body R3. The research, part of a long-running survey of Britain’s…
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Local authorities could save thousands of pounds by using digital debt recovery instead of resorting to traditional solutions like bailiffs according to new research by Essendex. Figures show that around £2.8bn of outstanding council tax was owed to local authorities in England as of March 2017 – with many councils struggling to claw back the money.…
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New research from TDX Group has indicated that people living in East Anglia, Brighton and Newcastle residents are the most likely to be insolvent. Commenting on the research Richard Haymes, Head of Financial Difficulties at TDX Group, an Equifax said “Our latest research shows a significant and growing disparity between the level of individual insolvencies across…
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Hoist Finance has announced that it has entered into an agreement to acquire a French non-performing retail mortgage portfolio with approximately 1.000 claims and an outstanding balance of approximately 1.000 MSEK. The seller is one of the largest mortgage banks in France and the portfolio acquisition represents an investment in excess of €50 million. Fabien Klecha,…
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