Credit, Collections & Insolvency News
Admiral Loans has entered the direct-to-consumer car finance market, launching with HP, PCP and personal loan products. Admiral Loans said it also provides no-obligation quotes which won’t impact consumer credit scores. Admiral offers HP and PCP’s range loans. Scott Cargill UK Chief Executive Officer at Admiral Loans said: “Buying a car is one of the bigger…
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Moneyway (the motor finance arm of Secure Trust Bank) has announced that it has appointed a new Managing Director. David Mercer joined from Cox Automotive, where he headed its stock funding arm, NextGear Capital. Mercer helped launch NextGear in the UK back in 2014 and was also responsible for its expansion into Ireland. Prior to…
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The Money Advice Service has published The Economic Impact of Debt Advice, a report that demonstrates a financial return of up to £960m per year to the UK economy. This is in the context of an estimated £150m and £200m total annual investment in debt advice. The research, undertaken by Europe Economics, builds on work previously…
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The Civil Enforcement Association (CIVEA) has appointed Russell Hamblin-Boone to a new position of Chief Executive Officer. Mr Hamblin-Boone will give a new voice and direction to CIVEA and its members at a time when the industry is facing a review of regulations and needs strong representation in policy debates. Hamblin-Boone was previously Chief Executive…
Read moreFirst Minister of Scotland Nicola Sturgeon has called on the new Secretary of State for Work and Pensions to make urgent changes to Universal Credit (UC) – as she backed warnings from Scotland’s Children’s Commissioner Bruce Adamson over the ‘disproportionate effect’ of UK Government welfare policies on young people. The First Minister and Mr Adamson…
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Here is an overview of The Money Charity’s latest statistics for January 2018: Personal debt in the UK People in the UK owed £1.566 trillion at the end of November 2017. This is up from £1.512 trillion at the end of November 2016 – an extra £1,040.96 per UK adult. Per adult in the UK that’s an average…
Read moreThe Office for National Statistics has published its latest UK consumer price inflation figures showing the Consumer Prices Index was at 3% in December 2017, down from 3.1% in November 2017. Findings published today from the Institute for Fiscal Studies also reveal that around a quarter of the lowest income households are struggling with arrears…
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Debt Purchaser, Arrow Global Group has announced the appointment of Dave Sutherland as Group Chief Operating Officer (COO). Sutherland is a highly experienced executive with a successful track record of managing operations within large, international financial services organisations. He joins Arrow Global at an exciting phase of the Group’s development and will sit on the…
Read moreFiat Chrysler Automobiles (FCA UK) UK & Ireland has appointed Arnaud Leclerc as Managing Director (MD), effective immediately. He has replaced Ashley Andrew, who left the company after a tenure of approximately a year and a half. Leclerc has previously held a number of senior management roles in Britain and across Europe, including in France,…
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Risk and data science specialist Jaywing, has launched Archetype, a new risk technology product that uses Artificial Intelligence (AI), machine learning and deep neural nets to help lenders generate transparent statistical models and predict almost any outcome on almost any data set. Archetype uses true AI to generate more powerful models, significantly reducing the time…
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Provident Financial is to report a pre-exceptional loss of around £120m in its consumer credit division. The lender has published a trading update for the year to 31st December 2017, ahead of its final results for the year which will be announced in late February. The report summary highlights: Vanquis Bank and Moneybarn have both traded…
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Consents Online has announced that it has received authorisation from the Financial Conduct Authority (FCA) as a Registered Account Information Service Provider (“AISP”). At the website consents.online, the company provides a single place where consumers can control the information they share with third parties with complete transparency. Initially managing the sharing of bank transaction data…
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The Irish Central Bank has announced three appointments at Director level in its Financial Conduct pillar. The Directors will report to Director General, Financial Conduct, Derville Rowland. The financial conduct pillar was established following a restructuring of financial regulation in 2017. Gráinne McEvoy has been appointed to the role of Director of Consumer Protection. Prior…
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