Credit, Collections & Insolvency News
Arrow Global Group has announced its results for the nine months ended 30 September 2017 (Q3 2017). Commenting on the results Lee Rochford, Group Chief Executive Officer, said “In the first nine months of the year, Arrow continued to grow strongly and profitably. Portfolio purchases in the period increased by 30%, and we are on track…
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SSE and Npower (owned by Innogy) have agreed to merge SSE’s household energy and energy services business to form a new independent retail energy company. Innogy will hold a minority stake of 34.4 percent in the business, while SSE plans to demerge its 65.6 percent stake to its shareholders upon completion of the transaction. Last…
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New IFS research, funded by the Nuffield Foundation, looks at recessions, inequality, and the role of the tax and benefit system. It finds that planned benefit cuts will leave low-income households more exposed to the impact of future recessions. If falls in the earnings of workers seen between 2007–08 and 2011–12 happened again now, the…
Read moreThe Treasury Committee has launched a new inquiry into household finances. The Committee will take a broad look at the state of UK household balance sheets, including whether households are saving adequately in the current economic environment. It will scrutinise problematic indebtedness, inter-generational issues, lifetime financial planning, and the effectiveness of the market in financing solutions…
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The value of default and small claims judgments in Northern Ireland skyrocketed during the third quarter, according to figures released today by Registry Trust. The number of default and small claim judgments recorded in Q3 2017 rose by a quarter, to 2,186, compared with the same period a year ago. Rising 85 percent, the total…
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The Money Advice Trust has welcomed the government’s creation of a Financial Inclusion Policy Forum to drive better co-ordination in addressing the problem of financial exclusion. The move comes in response the House of Lords Financial Exclusion Committee’s report, A country that works for everyone?, in March 2017, which recommended ”a clear strategy for improving…
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Here is an overview of The Money Charity’s latest statistics for November 2017: Personal debt in the UK People in the UK owed £1.557 trillion at the end of September 2017. This is up from £1.505 trillion at the end of September 2016 – an extra £1,030.47 per UK adult. Per adult in the UK…
Read moreHoist Finance has appointed Klaus-Anders Nysteen as new CEO. Nysteen has a long and broad experience from the financial industry in companies such as Storebrand Bank, where he was CEO for four years, and most recently as CEO of Lindorff Group. Adding to that Nysteenhas a proven track record as a leader and vast experience…
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SSE and NPower’s owner Innogy have entered talks about merging their supply businesses into a new separate company. In a statement on SSE’s website the company said “In line with its stated commitment to embrace change in each of its businesses, adapting them to the political, economic, social and technological requirements of customers and of…
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Deceased account management specialist, Phillips & Cohen Associates has announced changes to strengthen its senior leadership team. In the re-organisation, Nick Cherry moves up to the role of Chief Operating Officer for the global organization. Cherry, who has been with the business since 2010, previously fulfilled the role of Managing Director of PCA International and…
Read moreThe Information Commissioners Officer (ICO)’s Deputy Commissioner has reminded organisations to be transparent with people’s personal data after a survey revealed a significant deficit of trust that organisations must address if they want to innovate with personal information. New ICO research found that only one fifth of the UK public (20%) have trust and confidence…
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Collections consultancy, Arum Systems has been acquired a new investment team. The deal was completed a month after Arum released its annual financials. No significant changes are planned for Arum or its management team. Jamie Waller, former CEO of JBW and Hito and the lead investor on the deal said “Arum has a great reputation in the industry…
Read moreThe Financial Conduct Authority (FCA) has published its ‘FCA Mission – Our Future Approach to Consumers’. When the FCA launched its mission, it committed to publishing a series of documents that would explain its approach to regulation in more depth. The FCA’s Approach to Consumers is the first in this series, and explores the approach…
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