Credit, Collections & Insolvency News
European debt purchaser DDM Holding has announced that it has entered into an agreement to acquire a sizeable distressed asset portfolio containing secured corporate receivables in the Balkans from a leading bank in the region. The gross collection value of the portfolio amounts to approximately EUR 240 million. About 90% of the portfolio value is…
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Phillips & Cohen Associates, (Australia), the Australian arm of the globe’s leading deceased account management specialist, celebrates its fifth anniversary this month. The business, led by Managing Director, Don Coulthard, has enjoyed vibrant growth in the Australian market. Clients have been quick to benefit from the positive consumer impact of Phillips & Cohen Associates’ compassionate…
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New research from NS&I reveals that personal finance worries are having a negative impact on the well-being of 17 million Britons, with a quarter (26%) revealing that the state of their personal finances has had a negative effect on their mental health. In total 85% of Britons admit to worrying at least some of the…
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Tens of thousands of people are missing from society, hiding away and suffering acute anxiety because of poverty. These are the findings from a new Christians Against Poverty (CAP) report launched today by the charity’s patron the Archbishop of Canterbury. Archbishop Justin Welby said at the launch of the report that debt problems are now at…
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Peter Bell has joined Cox Automotive’s business Manheim as Managing Director. Bell joins from Jaguar Land Rover, where he held the role of global financial services director. He has also worked as Chief Operating Officer at Volkswagen Financial Services in the past. Michael Buxton, Chief Executive Officer at Cox said: “Peter is an accomplished business…
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Short-term lender Trusted Quid has announced its data has been accessed between 1st July 2016 and 17th February 2018. Information entered when applying for a loan directly via the was accessed. In a statement on the website Trusted Quid said “This does not involve customer data stored on Trusted Quid’s main systems (server). It also does not involve customers or applicants who have…
Read moreThe Office for National Statistics has today published its latest UK consumer price inflation figures showing the Consumer Prices Index was at 2.7% in February 2018, down from 3% in January 2018, its lowest level since July 2017. Commenting on the figures Joanna Elson OBE, chief executive of the Money Advice Trust, said “This slight drop in…
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Callcredit Information Group has made two new senior appointments to help it better serve and protect clients in the age of the empowered consumer. Against a backdrop of Open Banking, GDPR and the ever-growing threat of fraud, Callcredit is seeking to provide better ways for brands to interact with their customers whilst also protecting them…
Read moreOnline research from Equifax, shows that using a debit or credit card with a pin number is still the preferred method of payment for 42% of people in the UK. Contactless methods followed at 34%, with the vast majority of these respondents (31%) preferring a contactless card to using their phone or wearable technology (3%).…
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Rent to own specialist, PerfectHome has agreed with the Financial Conduct Authority (FCA) a package of redress totalling over £2.1 million. This will be made up of cash payments and balance write-offs for 37,000 customers. PerfectHome (a trading name of Temple Finance Limited) is a rent-to-own firm which provides household goods to customers on hire…
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Clockwise Credit Union has announced an Open Banking partnership with TrueLayer, providing of bank account API’s, to improve access to finance for its members. The innovative new partnership utilises the opportunities provided by Open Banking to allow Clockwise to access member bank account data in order to make more efficient and secure loan assessments. This…
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Research by GoCompare finds that 80% of UK consumers now receive at least one financial service and utility bill or statement electronically 4 out of 5 (80%) UK consumers now receive at least one paperless bill or statement for a financial product or utility, new research from GoCompare has found. However, the result for many…
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Here is an overview of The Money Charity’s latest statistics for March 2018: Personal debt in the UK People in the UK owed £1.576 trillion at the end of January 2018. This is up from £1.52 trillion at the end of January 2017– an extra £1,077.51 per UK adult. Per adult in the UK that’s an average debt…
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