Credit, Collections & Insolvency News
Nearly one in seven Britons (14 percent) are worrying about money every day in the run-up to Christmas, with 37 percent putting Christmas costs on credit, according to new research from National Debtline, run by charity the Money Advice Trust. The research, based on a poll of more than 2,000 British adults conducted online by…
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A new study from Scottish Widows’ independent think tank, The Centre for the Modern Family, has found that four in ten (43%) grandparents help their families to fund the festive season, spending a collective £932 million. More than a third (36%) of them make sacrifices to compensate for the extra expenditure at Christmas.The Silver Supporters report, the…
Read moreLatest figures released by The Public Accounts Committee show that online fraud most is now the most prevalent crime in England and Wales. The Public Accounts Committee report said the Home Office cannot solve the issue, which has an estimated cost of £10bn, on its own. It is thought that only 20% of online fraud is…
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The number of people dying without making any specific provision to pay for their funeral has risen by 11%1according to SunLife’s Cost of Dying report. The average cost of the cremation or burial, including the fees for the funeral director, the doctor, and the minister or celebrant is now £4,078. The send-off costs (order sheets,…
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Moneybarn (owned by Provident Financial) has been informed that the Financial Conduct Authority (FCA) has commenced an investigation in relation to the processes applied to customer affordability assessments for vehicle finance and the treatment of customers in financial difficulties. It is thought that Moneybarn has around 50,000 customers. In a statement, Provident Financial Group said “it…
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UK households are set to spend around £20 billion celebrating Christmas. According to new research commissioned by GoCompare Money, this Christmas the average British household expects to spend £726 on presents, parties, feasting, gifts and decorations. For UK households as a whole – that equates to £20.3bn. Gifts for loved ones represent just over half of…
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Credit reference specialist, Aire has announced a first-of-its-kind partnership with online retailer N Brown. The new agreement will see Aire provide its augmented credit assessment technology to support N Brown, which operates online stores such as JD Williams, in analysing the full picture of online customers and the true benefits and risks that come with…
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Over two million people in the UK are stuck in a constant cycle of persistent overdraft debt, according to a new report – ‘Stuck in the Red’ – by StepChange Debt Charity. The report also highlights evidence of unaffordable lending in the overdraft market and cases where banks have failed to offer their customers a…
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Startline Motor Finance has secured a new £250 million credit facility from J.P. Morgan. The Glasgow-based company is known for its flexible approach to motor finance. CEO Paul Burgess said “We have been talking to several major financial institutions for some time to secure our next funding facility. Interest was widespread but we are very…
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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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Britain’s record on tackling poverty has reached a turning point and is at risk of unravelling this follows the first sustained rises in child and pensioner poverty for two decades according to latest research by the Joseph Rowntree Foundation (JSF). The report finds that almost 400,000 more children and 300,000 more pensioners are now living…
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Intrum has entered into an agreement to acquire CAF S.p.A (CAF), the third largest servicer of non-performing loans in Italy In addition, Intrum has acquired a large, diversified debt portfolio serviced by CAF. The seller of CAF and of the debt portfolio serviced by CAF are affiliates of Lone Star Funds, a global private equity…
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A quarter (25%) of women experience significant doubts several times a day, compared to just 19% for men. This trend can be seen across areas of personal finance – with almost a third of women (32%) saying they lie awake with money worries at least once a week, compared to just 23% of men Women appear to take…
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