Credit, Collections & Insolvency News
It is estimated that there could be over £25 million worth of fraud being perpetuated by businesses falsely claiming Small Business Rates Relief across England, according to data analytics specialist Destin Solutions. Small Business Rates Relief (SBRR) is provided to a number of businesses across England on the basis that they either only use one property…
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The number of debt judgments recorded in the Four Courts of Ireland fell to a historic low during 2017, according to figures released today by Registry Trust. There were 2,157 judgments registered against consumers in 2017, two percent fewer than the previous year and a record low. The mean average consumer judgment’s value fell 11…
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Aire, which provides an alternative way for lenders to understand and score credit applicants, today announces that it is launching an evaluation with Toyota Financial Services (TFS) for its Artificial Intelligence (AI) platform. The collaboration is designed to prove the effectiveness of Aire’s technology to assess the financial situation of TFS customers within ‘customer delinquency’.…
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British consumers are increasingly struggling to cope under an ever-growing mountain of credit card debt, according to new research by the New Economics Foundation (NEF) think-tank. Using data from the Financial Conduct Authority, R3 and its own modelling, NEF finds that credit card debt is increasingly becoming as unmanageable as payday lending debt was for…
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The Central Bank of Ireland’s Director General, Financial Conduct today set out her priorities for the recently created financial conduct pillar of the Central Bank. Speaking in UCD, Derville Rowland highlighted the vital importance of trust and confidence in financial services and the system of regulation, and added that the accountability of senior personnel in…
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Almost 1 million vulnerable households on poor value deals will make big savings on their energy bills from this month after Ofgem extended the prepayment safeguard tariff. Customers will initially make annualised savings of around £115 on average because suppliers have to cut their prices to below the level of the safeguard tariff cap. These…
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Dŵr Cymru Welsh Water has announced increased support to help fund lower bills for low-income households over the next year to £7 million. The £7 million of additional funding covers the company’s flagship social tariff, HelpU, and other support to build on a large number of low-earning customers already accessing support to pay their bills…
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New data research by onefourzero and GK analysing the credit market has found that consumers now use debt to maintain their spend power. The report analysed demand data for credit cards and overdrafts, and found that reliance on consumer credit has become the new normal; British consumers are borrowing more now than ever before. What was…
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Phoenix High Court Enforcement has announced two new appointments. Jason Critchley joins as a new Business Development Manager, in the High Court Services team. Critchley, an ex-Wales and Great Britain Rugby League International, has been appointed to a new role in the company as Business Development Manager, High Court Services. Jason has an extensive knowledge…
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Ofgem has launched an investigation into the consumption information that Ovo Energy gave some of its customers. This includes the estimates the supplier gave customers about how much energy they used during winter 2016-17 and the accuracy of the annual consumption figures that it gave to customers in their annual statements. The investigation will examine…
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Vulnerable people will save the equivalent of up to two months of their annual energy bill, as Ofgem’s safeguard tariff comes into effect for a million more people. The tariff will cap the energy bills of customers who are eligible for the Warm Home Discount – which includes some of the poorest families and pensioners.…
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Cox Automotive has today announced a number of changes to its executive leadership team. In the Manheim business unit, Peter Bell takes on the role of Managing Director, from Tim Hudson, who has made the decision to leave the business. Ball has with extensive operational, commercial and customer delivery experience in the financial services and…
Read moreSpecialist lender Together has announced that John Lowe will be joining its senior management team as Group Finance Director. Gary Beckett will take on the new role of Group Managing Director and Chief Treasury Officer, following a short transition period. Lowe was previously Finance Director at Coventry Building Society. An Oxford University graduate, who qualified as a chartered…
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