Credit, Collections & Insolvency News
One in three consumers shopped ‘blindly’ this Christmas – by not checking their bank balance before, during or after hitting stores and retail websites according to latest research by Asda Money Despite 77 percent setting a typical budget of £539 the study of 2,000 adults found overall one fifth spent more than they intended to.…
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Decisioning software specialist LendingMetrics is set to launch a new Open Banking service in 2018. The “Open Bank Vision” campaign will launch in early 2018 as a free service. There will be zero setup fees, transaction fees, account fees, or indeed fees of any nature. The company has also emphasised that this is not an introductory offer,…
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Credit broker John Charcol has appointed Matthew Jackson as its new Head of Sales. Jackson joins from Niche Finance Group where he was Senior Associate Director responsible for managing a team with an annual turnover of £9m. Previously he has worked at Countrywide Mortgage Services and Connells Group. In his new role at John Charcol,…
Read moreThe debt advice industry will have to look beyond funding barriers and embrace new technology to get the best outcomes for clients in debt according to a survey of delegates carried out before the Money Advice Liaison Group (MALG) Conference at the end of November. The survey showed that while almost half of the respondents feel…
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Online research from Equifax has revealed that 39% of Brits expect Brexit to negatively affect how they access and manage their finances. The survey, conducted by YouGov, also highlighted the younger generations’ pessimism about Brexit with over half (56%) of 18-24 year olds believing exiting the EU will make it more difficult to access and…
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Increasingly tough economic conditions in 2018 could lead to a boost for flexible motor finance, which is designed to sit alongside traditional prime lenders on dealer panels. Startline Motor Finance says that, as the effects of a slowing economy start to be felt by individuals, fewer people will tend to be able to meet the…
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With only six months to go to the General Data Protection Regulation (GDPR), a worrying 76% of organisations have yet to review products to ensure they are GDPR compliant, finds new research launched today by Callcredit Information Group. Yet marketers’ confidence isn’t wavered by this with a large majority (84%) thinking that those who must…
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The Money Advice Service (MAS) has launched a five-year debt commissioning strategy that outlines a challenging and exciting plan to ensure debt advice services target those most in need. Following an extensive consultation with over 175 organisations across a range of sectors, ‘A strategic approach to debt advice commissioning’ sets out a new approach that…
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Christmas shoppers will spend record amounts on credit cards as consumers search for safer online shopping according to new research by Equiniti. Credit card payments have already seen an uptick in the value of payments made in 2017 with over £3 trillion already spent on credit cards up to October (the latest data available), compared…
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Asset finance provider, Haydock Finance has announced that Apollo Global Management has signed an agreement to acquire a majority shareholding in th company, investing alongside Haydock’s founder and Executive Chairman Jon Wilkinson. The agreement is subject to customary conditions and is expected to close in Q1 2018. Established in 1980, Haydock is one of the…
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New research by TSB has revealed that 70 percent of consumers do not know the difference between a soft and hard credit check. This is potentially costing borrowers around £418 each in extra interest on a typical loan. The majority (61%) of providers perform unnecessary hard credit checks when a consumer looking for a personal…
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Financial Conduct Authority (FCA) plans to change how credit card firms offer credit limit increases do not go far enough to protect consumers from problem debt, Citizens Advice says. The update paper on credit cards and persistent debt released today shows the FCA has stopped short of the clear ban on unsolicited increases Citizens Advice…
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Ireland’s Central Bank has sold a further €500 million tranche of debt connected with the collapse of Anglo Irish Bank. The latest transaction brings to €9.5 billion the amount of legacy debt bought from the bank by the National Treasury Management Agency (NTMA). Following the purchase, €15.53 billion of debt associated with the failure of Anglo Irish Bank remains with…
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