Credit, Collections & Insolvency News
Home credit specialist Buy As You View(BAYV) has entered administration. Buy As You View, owned by Dunraven Finance, has made 41 job losses with another 226 jobs are at risk. Buy As You View, has 40,000 customers across the UK. EY confirmed it had been appointed by Buy As You View as administrators. EY said…
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Wigan council has seen a rise in tenants falling into arrears with the ratio of tenants failing to make council rent payments rising in the past three years. A report given to the town hall’s housing advisory panel has highlighted the growing problem of people missing more than seven weeks of payments in a row. Contrary…
Read moreArrow Global Group has announced its latest interim results for the six months to 30 June 2017. Highlights include: · Strong organic portfolio purchases up 30.3% to £125.1 million (H1 2016: £96.0 million) · Revenue growth of 47.6% supported by 11.3% increase in core collections and 98.6% increase in Asset Management income from H1 2016…
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Morses Club PLC , the UK’s second largest home collected credit lender, has announced its latest results in the period to 26 August 2017. The results have shown that customer numbers increased substantially by 12% to approximately 233,000 as at 26 August 2017, driven by territory builds and organic growth (H1 2017: 2.4%). Total credit issued increased…
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Debt Purchaser, Motormile Finance (MMF) have been awarded a Silver rating for ‘outstanding’ customer service – from Investors in Customers (IIC). IIC, a customer experience consultancy, surveys customers, staff and senior management to assess how well a business understands its customer needs and how well it delivers services that meet those needs. Denise Crossley CEO…
Read moreThe Central Bank of Ireland has released Ireland’s Money and Banking Statistics for July 2017. Here is an overview of the main findings. NFC lending now stands at the lowest level since the series began. However, medium and long-term lending have both been positive on an annual basis for two consecutive months, which masks the substantial…
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Debt Purchaser, Arrow Global Group has agreed term with the potential acquisition of Mars Capital UK and Ireland, a leading UK and Irish mortgage servicing businesses, for an enterprise value of £15.5 million. The acquisition further strengthens Arrow Global’s asset management capabilities, while providing a strategic entry into Ireland, a new market for the Group…
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The growth in borrowing by consumers appears to be slowing amid a squeeze on households according to the Bank of England’s latest consumer statistics. The annual rate of growth for consumer borrowing through credit cards, overdrafts and personal loans decreased to 9.8% in July, the lowest rate of expansion since April 2016. The growth rate…
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UK debt purchaser, 1st Credit has achieved gold standard from Investor in Customers (IIC) for ‘exceptional’ customer service for the fourth year running. 1st Credit, part of Intrum Justitia Group, increased its scores across the board – from customers, staff, management and independent assessor IIC. The company achieved an overall score of 8.86 out of…
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Research by The Royal London National Funeral Cost Index 2017 reveals funeral debt has also risen to £160 million. One in six (16%) said they struggled with funeral costs, with people taking on an average debt of £1,680. Amongst those who struggled, one in four said they borrowed money from family and friends (26%) and…
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Business process outsourcing and operational transformation provider Target Group has announced the appointment of Richard Gregory as the company’s Chief Data Officer (CDO). Gregory’s role will be to lead the further development and delivery of Target Group’s overall data strategy. The move continues to drive forward its position as a leading global insight led business. Having…
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Research by Citizens Advice has found that nearly 1 in 5 people struggling with debts have had their credit card limit raised without them requesting it, a practice the charity would like to see banned. After the Bank of England issued a warning to lenders about how they are granting credit to consumers, Citizens Advice…
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Capita has agreed a contract extension until 2020 to provide mortgage services to Tesco Bank. Since the launch of Tesco Bank Mortgages in 2012 Capita has provided a full mortgage outsourcing service from their Glasgow based office. The service spans mortgage advice, telephony support, processing, servicing and arrears management. Initially, this supported Tesco in launching a…
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