Credit, Collections & Insolvency News
Equiniti has announced the launch of its Northern Tech Hub at Lawnswood Business Park, Leeds A 14,000 sq ft building is the new home of Equiniti Credit Services, the UK’s leading loans management and credit technology company, currently managing more than £20bn in credit assets. Equiniti Credit Services has been created from two UK brands…
Read moreContact centre specialist, Noble Systems, has announced the release of Noble Conversations Analytics, a native speech analytics application for the Noble Contact Centre platform. Speech Analytics helps companies improve service and performance by mining the data from customer interactions to see trends, identify best practices, manage compliance, and gain deeper insight into contact centre, customer, and…
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The Credit Services Association (CSA) has welcomed the support for fair treatment for people struggling with mental health but has expressed concern over the continued characterisation of their members as being ‘anti-consumer’. The CSA, which represents over 300-member firms dealing with more than 40 million cases, has called upon the debt charity sector to work more closely with…
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More than 80,000 people have had their mortgage help stopped according to the first official figures released since changes were made to the Support for Mortgage Interest (SMI) scheme. The figures issued on 24 April show only 18,000 claimants out of a caseload of 103,000 have opted to continue to receive SMI under a new…
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The UK’s second largest home collected credit Morses Club has announced its preliminary results for the 52 weeks ended 24 February 2018. Commenting on the results Paul Smith, Chief Executive Officer of Morses Club, said “We are very pleased to report that FY18 was an even stronger year for Morses Club, reflecting our continued success in serving…
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Prudential Regulation Authority (PRA) rules introduced at the end of September 2017 are having a significant impact on the buy-to-let mortgage market according to Paragon’s latest PRS Trends research. The research is based on interviews with 203 experienced landlords in Q1 2018. The new rules comprise the second phase of the PRA’s buy-to-let underwriting standards and…
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The Competition and Markets Authority (CMA) has found that the merger of SSE Retail and Npower could lead to higher prices for some billpayers, following its initial investigation. The CMA) has been assessing whether SSE Retail and Npower’s proposal to create a new energy company for domestic retail customers could reduce competition. Its initial Phase 1 investigation…
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Accountant in Bankruptcy (AiB) has released official statistics reporting personal insolvencies in Scotland for the fourth quarter (January to March 2018) of 2017-18. Provisional estimates show that in 2017-18 personal insolvencies in Scotland increased by 4.7% to 10,503 from 10,032 in 2016-17. Estimates for 2017-18 are provisional until final figures are published in July 2018.…
Read moreThe total value of consumer debt judgments registered in the Republic of Ireland topped €100m in Quarter 1 of 2018, for the first time during a single quarter since Q3 2015, according to figures released today by Registry Trust. Four hundred and seventy-one judgments were issued against consumers during the first quarter of the year,…
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Further to the independent Review of the Funding of Debt Advice, led by Peter Wyman in January, the Debt Advice Steering Group (DASG) has announced its considered responses in detail and priorities which includes: increasing capacity in the sector by 50%; broadening the base of organisations who contribute to funding; measures which ensure high-quality advice;u…
Read moreThe Irish Central Bank has published its April update on the Tracker Mortgage Examination, showing that, at end-March, banks and smaller lenders had paid out €459 million to customers affected by their failings. This is an increase of €162 million since the December update on the Examination. The update also showed that an additional 3,400…
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Illegal lending loan sharks will face a fresh new crackdown today as the government announces new funding to tackle unlawful lending. Over £5.5 million will be spent to fund the fight against loan sharks, helping to investigate and prosecute illegal lenders and support their victims. 100,000 of money already seized from loan sharks will also…
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Levels of arrears and repossessions are expected to grow this year, according to Jackie Bennett, Director of Mortgages at UK Finance, at the UK Finance Speaking at a UK Finance annual mortgage lunch, Bennett noted that arrears were at a historic low in 2017 with 89,000 people with arrears balances of 2.5% or more of their…
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