Credit, Collections & Insolvency News
Credit Bureau, Credit Kudos has announced its has received Financial Conduct Authority (FCA) authorisation. Credit Kudos are building a new credit scoring system to tackle the problem of increasingly persistent consumer debt. Commenting on the announcement, Freddy Kelly, founder and CEO of Credit Kudos said: “Credit is a crucial instrument for so many of us,…
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Zopa and Saffron Building Society have teamed up to help more consumers get access to better value, flexible personal loans. The new partnership means that consumers will be able to get access to a Zopa loan at any of Saffron Building Society’s 11 branches across Hertfordshire, Essex and Suffolk and via Saffron’s website. Consumers looking…
Read moreThe DWP has announced that benefit claimants struggling to pay their bills will be able to get cash advances upfront, Work and Pensions Secretary David Gauke has said. The government has recognised concerns that people moving on to Universal Credit had to wait six weeks to be paid. The Minister announced he will introduce refreshed…
Read moreThe merger of Intrum Justitia and Lindorff was completed in June and following from the announcement the company has consolidated the two companies by introducing a new corporate identity and brand name: Intrum. Mikael Ericson CEO and President of Intrum said ”Intrum is the undisputed market leader. This presents new opportunities for growth through joined…
Read moreResearch by Saga Money found that while retired people want to save to pass on an inheritance, their children would rather they spent the money on living today.. More than eight in ten children say they would rather their parents spent their money in retirement than leave them an inheritance, yet four in five parents…
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West Wales Credit Union has ceased trading. The Financial Services Compensation Scheme (FSCS) has stepped in to protect members of West Wales Credit Union Limited; which has stopped trading and is now in default. This means it cannot re-pay deposits to its 1,700 members. FSCS will compensate the vast majority of members within seven days.…
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AIB Group, the Irish Mortgage Holders Organisation(Irish Mortgage Holders Organisation) and iCare Housing has announced a joint initiative aimed at keeping customers in difficulty with their mortgage, and who qualify for social housing, in their own homes. iCare Housing, a not-for-profit Approved Housing Body was set up for the purpose of providing and managing social…
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NatWest has become the first bank to launch a paperless mortgage. The bank’s customers can now apply for a completely digital mortgage which uses the latest technology to securely share and verify documents online. The new proposition means customers do not need to post signed paperwork or identification back and forth. This marks the first time…
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Research from independent car buying site, carwow, reveals that nine in ten Millennials are renting or leasing modern day essentials such as cars, homes and mobile phones because it’s the only way to afford to them. Due to soaring living costs, a poll of 2,000 car owners by carwow shows that one in two millennials…
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The Insolvency Service has released a statistical breakdown of individual insolvencies in England and Wales, by region, county, unitary authority and local authority levels. The statistics also include age and gender breakdowns of individual insolvencies at region level. The statistics cover the calendar years 2000 to 2016. Main Messages The total insolvency rate increased for…
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The CCUA has announced that Shannon Salter, Chair of the Civil Resolution Tribunal of Canada as will be the keynote speaker at this year’s annual conference. This year’s CCUA Conference will be held on Tuesday 17th October at The Birmingham Council House in central Birmingham. THe CCUA said ” We are delighted to welcome Shannon Salter,…
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Wonga has posted pre-tax losses of nearly £65m for 2016 but says it is expected to return to profit in 2017. The annual report shows revenue was £76.7m, up from £65.2m. Wonga has said that it is on track to return to profitability in 2017, now that its sponsorship of football team Newcastle United had ended. The group…
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HSBC is testing a new smartphone nudge app which will help people track what they spend money on and sends out spending limits alerts. Customers can add different back accounts from up to 21 money sources and keep track of all their balances in one app. The app is being trialled with 10,000 customers and will…
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