Credit, Collections & Insolvency News
Romania’s Alpha has agreed to sell debt portfolio valued at €360m. The bank said that portfolio will be acquired by entities financed by a consortium of international investors including Deutsche Bank, funds advised by AnaCap Financial Partners and funds advised by APS Investments. The completion of the transaction is subject to the relevant regulatory approvals.…
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Universal Credit has already left more than 100 council tenants across Nuneaton and Bedworth owing almost £120,000 in rent. According to borough council figures, there were 156 Local Authority (LA) tenants claiming Universal Credit (UC) and, of these, 126 were in arrears with their rent. The total amount of money owed was £118,000 and 60 per cent…
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Almost £5 million in council tax went uncollected across Wolverhampton last year while a further £1.5 million in business rates was also unpaid. Councillor Wendy Thompson, Conservative leader on the Labour-controlled Wolverhampton council, said: “I find this absolutely shocking. It is a huge amount of money – and just think of what could have been…
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Ireland’s National Treasury Management Agency (NTMA) has announced that is planning three debt auctions in the first quarter of this year. Following the sale of €4 billion of bonds last Week the NTMA announced plans for two bond auctions and one treasury bill auction to take place in February and March. The bonds sold on Wednesday will…
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Millions of pounds are owed to Dundee City Council by tenants in rent arrears according to a new report by the Evening Telegraph. Figures provided to the Telegraph show that more than £2 million of debt has been accrued by council tenants in the city who have defaulted on their payments to the local authority.…
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There was no festive cheer for retailers as December rounded off as the worst year for consumer spending since 2012 according to new research by Visa. Commenting on the data, Mark Antipof, Chief Commercial Officer at Visa said “Christmas rounded off a lean year for retailers with consumer spending seeing its first consistent 12 month…
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Vehicle leasing and fleet management company, Arval UK has announced a change to its executive management team in the UK. Benoit Dilly, who has been Managing Director of the UK business since 2013, has left Arval UK to take up a new position within the BNP Paribas Group, based in Paris. Having held the Managing…
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The HM Treasury has announced the appointment of Charles Randell CBE as the new Chair of the Financial Conduct Authority (FCA). Randell is currently an external member of the Prudential Regulation Committee of the Bank of England and a non-executive board member of the Department for Business, Energy and Industrial Strategy. Randell will take up…
Read moreBridging lender Octane Capital has announced that Graham Macaulay has been appointed as Senior Credit Manager. Macaulay will report to Matt Smith, Octane Capital’s Director of Credit. Matt Smith commented on the appointment “Graham’s understanding of risk is superb and to have him on board is a significant coup, not to mention a great start…
Read moreCar sales in the UK declined in 2017, the first decline in five years. The Motor industry is blaming government for a collapse in consumer confidence in diesel vehicles Total sales for last year were 2.54m new vehicles, a decline of 5.6% on 2016, with diesel sales dropping 17%. The Society of Motor Manufacturers and…
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The rate of UK consumer borrowing continued to slow in November according to the Bank of England as it seeks to slow down the growth of the personal loan market.The report shows a growth in consumer credit of 9.1 percent in the year to November 2017. Outstanding balances for consumer credit now stand at over £205.8 billion. In response…
Read moreUK Finance has published its latest lending figures. Findings from the figure include: Mortgage activity has been building through the year, helped by increasing numbers of first-time buyers. We estimate gross mortgage lending in October was £23.1 billion, nine per cent higher than a year earlier, with 60 per cent of all new lending provided by…
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Household bills increased by £280 in 2017, according to new findings from comparethemarket.com. The research reveals that the costs for energy, motor and home insurance have risen by 13% over the past year from £2,216 to £2,502, leaving consumers £286 out of pocket. Energy bills have seen the most dramatic price hike, as customers have paid on…
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