Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q1 2018 was 46, up from 25 in the first quarter of 2017. The rate of second charge mortgage repossessions (as a percentage of outstanding agreements) was 0.09% in the twelve months to March 2018.…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business fell 10% by value and 13% by volume in March, compared with the same month in 2017. In Q1 2018 as a whole, new business increased 1% by volume compared with the same quarter in 2017. Fiona Hoyle,…
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The Bank of England has announced that it has made a decision to keep interest rates at 0.5%. The news will provide respite to debtors as latest figures from Stepchange reveal that Outstanding lending to individuals is £1,584 billion as at end March 2018. With £209.2 billion is outstanding consumer credit (£70.7 billion on credit cards).…
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New research released by the Financial Capability Lab has showcases some innovative ideas aimed at tackling everyday money challenges. The Financial Capability Lab – a partnership between the Money Advice Service (MAS) and the Behavioural Insights Team (BIT)– was launched to develop new solutions to help people make the most of their money. Working with…
Read moreUK Finance’s latest Mortgage Arrears and Possessions Update for the first quarter of 2018 reveals that: There were 78,800 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance in the first quarter of 2018, 8 per cent fewer than in the same quarter of the previous year and the lowest…
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Debt Purchaser, Arrow Global has announced its latest company results (for the three months ended 31 March 2018). Commenting on the results Lee Rochford, Group Chief Executive Officer, said “The power of our differentiated model has meant that we have had another strong start to the year. Our sophisticated approach to capital investment and asset management, underpinned…
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Debt charity, StepChange has revealed thousands are struggling with problem debt in Scotland. Drawing on client data from January to December 2017 titled Scotland in the Red the report reveals that: Record numbers are contacting StepChange for help in Scotland; nearly 20,000 people sought debt help in 2017. Those seeking help have seen a real-terms decrease in…
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Data sharing has had a fair amount of negative press recently with the Facebook/Cambridge Analytica case. Often consumers are sceptical when asked to share their data with an organisation. In finance and utilities, data sharing certainly has its challenges, but it also has advantages for the consumer that stretch well beyond any simple transaction. If…
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Enforcement specialist JBW Group, have announced they have agreed the recovery of unpaid Road User Charging penalties with a 3-year contract extension with the Highways England Dart Charge Scheme. Following an intensive competitive procurement exercise undertaken by Highways England earlier this year JBW Group, a supplier since the launch of the Dart Charge scheme in November…
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Panel and asset management software and analytics specialist Qualco has appointed Richard (Dicky) Davies as Business Development advisor. Davies joins Qualco with a wealth of experience in both the management and growth of major consumer finance portfolios in the UK financial services sector. He previously held senior business development positions in Barclaycard and Visa Europe,…
Read moreDebt purchaser, Cabot Credit Management has announced that it is to become a wholly-owned subsidiary of Encore Capital Group. The announcement was made as part of the companies latest financial results for the three months ending 31 st March 2018. Commenting on the results Ken Stannard, Chief Executive Officer, Cabot Credit Management, said: “Cabot Credit Management…
Read moreCredit Kudos has announced that it has successfully rolled-out of Open Banking connections with the largest UK banks, becoming the first credit bureau to offer Open Banking services to lenders and individuals. Borrowers can now use Credit Kudos to verify income and demonstrate creditworthiness using their financial history data, giving individuals more control over their…
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Doorstep lender Provident Financial has announced its latest financial results which indicate an upbeat start to 2018. Group Chief Executive, Malcolm Le May, Group Chief Executive, said “I am very pleased with the operational and financial performance of the group during the first quarter of the year and we are on-track to deliver results for…
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