Credit, Collections & Insolvency News
European collections specialist, Intrum is organizing a hackathon in partnership with Tieto which will seek to examine how innovation can help to improve individual consumer’s financial well-being. Over the course of the two-day hackathon event in Helsinki, Finland on April 11-12 this year, participants from education institutions, startups, SMEs and other organisations will create new…
Read moreCallcredit Information Group’s colleagues have selected Leeds Mind as their charity of the year for 2018. Callcredit has committed its annual fundraising efforts to help the charity. Leeds Mind will increase mental health awareness and engage with employees across the company throughout 2018 in a bid to raise vital funds to help support the services…
Read moreCustomers who stay loyal to their essential service providers could be paying £987 more per year – equivalent to four months’ worth of food for the average household – new research from Citizens Advice reveals. The report found that charging loyal customers more than new customers for the same service is a common practice across…
Read more
Walker Morris has become a member of the Money Advice Liaison Group (MALG), reinforcing its commitment to improving its financial services offering and the advice given to those facing financial difficulty. MALG was formed in 1987 and is a not-for-profit organisation whose purpose is to encourage organisations to ‘work together to improve the lives of…
Read more
The Financial Conduct Authority (FCA) has published an update on its work in the high-cost credit sector. The update follows a Feedback Statement the FCA published in July 2017 which identified key areas of concern with the sector including overdrafts, rent-to-own, home-collected credit and catalogue credit. Work undertaken since July 2017 has demonstrated an emerging…
Read moreOfgem has chosen Green Star Energy to take on supplying the customers of Future Energy, which went out of business last week. This follows a competitive process run by Ofgem to get the best deal possible for Future Energy’s customers. Green Star Energy is offering Future Energy’s customers the same price as they were paying…
Read more
Ofwat has announced that it will seek to channel innovation in the water sector with a new digital campaign aimed at encouraging water companies to fully embrace innovation and the opportunities it brings. Going live on 6 February, Ofwat’s digital channel – titled Spark! – will run two programmes a week over a four week…
Read more
New research from Mintel has found that the majority of unsecured loan borrowers are living in ignorance as three in five Brits (60%) admit they are unaware of the interest rate being charged. More figures suggest 74% of Brits aged 45-64 with structured personal loans say they do not know the rates they are paying.…
Read more
The number of debt judgments in Jersey fell to a historic low during 2017, according to figures released today by Registry Trust. There were 1,724 judgments registered in Jersey during 2017, 12 percent fewer than in 2016. By contrast, 3,489 judgments were registered in 2010. The number of debt judgments against consumers also decreased 12…
Read more
Over half (62%) of fraud managers are under pressure to increase transactions and customer sign-ups by reducing risk thresholds for ID verification, according to Callcredit Information Group’s research. Unsurprisingly, the research found that 64% of respondents feel it is difficult to balance the business need to onboard and service customers quickly with the need…
Read more
The Bank of England has today published its latest monthly Money and Credit report showing growth in consumer credit of 9.5 percent in the year to December 2017 up from 9.3 percent in November. Outstanding balances for consumer credit now stand at over £207.1 billion .The 8.9% growth in credit card lending has pushed the…
Read moreThe Financial Conduct Authority (FCA) has asked lenders to do more to tackle the issue of maturing interest-only mortgages with the FCA finding that many people have still not talked to their lender about their repayment options. Nearly one in five mortgage customers have an interest-only mortgage and the FCA is concerned that shortfalls in…
Read more
Significantly more UK households say they are spending more on essential products and services than they were a year ago, according to the latest Lloyds Bank Spending Power Report. The report has also found that significantly more consumers say they have increased their spending on essentials compared to 12 months ago with 70% of adults…
Read more