Credit, Collections & Insolvency News
Following Provident Financial Group (PFG) ’s trading announcement earlier in the week relating to the disruption in the home credit business, Executive Chair, Manjit Wolstenholme, has announced changes to the Consumer Credit Division (CCD) management structure. Chris Gillespie has been appointed Managing Director of the Provident home credit business, replacing Andy Parkinson, with immediate effect.…
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Cabot Credit Management (CCM), a market leader in European credit management services has announced the financial results for the six months ended 30 June 2017. Ken Stannard, Chief Executive Officer, CCM said “Cabot continued to deliver on its track record of consistent growth with a strong start to 2017. Our Adjusted EBITDA for the first…
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Debt Purchaser, Cabot Credit Management has entered into an agreement to acquire FCA-authorised Wescot, a leading UK contingency debt collection and business process outsourcing (BPO) services business. The acquisition is Cabot’s second this year, in the UK following the investment in Orbit Services, a specialist in the public utilities debt servicing market. In total Cabot has…
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The cost of running a home now almost half household income according to research by MORE TH>N as part of its second annual ‘Cost of Running a Home’ report. The study found that owning a three-bedroom home in the UK comes with average annual running costs of £18,197 (£1,516 per month), with rented three bedroom homes…
Read moreHoist Finance has announced that Najib Nathoo, Regional Director West Europe, will leave. Nathoo has worked with the company since 2012 and been a member of Hoist Finance Executive Management Team since 2015. Jörgen Olsson, CEO Hoist Finance said “Najib has played an important role in the evolution of Hoist Finance over the years, from…
Read moreConsent in data protection is not a new concept, with the current Data Protection Act 1998 (DPA) citing consent as one of the conditions for processing. However, the Act itself does not directly define ‘consent’ and offers little guidance on the how and what of obtaining it. The EU Data Protection Directive (95/46/EC) adopted in…
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With the start of the new school year fast approaching, an annual survey shows how parents will be spending £1.48 billion getting the UK’s 8.5 million children ready for the start of term – equating to £174.31 per child to purchase items such as jumpers, blazers, ties, shoes and sports kit. Research by Nationwide in a…
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The Debt Advisory Line has announced that it has been granted full authorisation by the Financial Conduct Authority (FCA) for Debt Adjusting and Debt Counselling. Craig Gedey CEO said “The team have worked extremely hard over the past 2 years to ensure that DAL can demonstrate commitment to regulatory responsibilities and treating customers fairly. It…
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Fraud prevention service, Cifas has released new figures showing that identity fraud has continued to rise at record levels in the first six months of 2017. A record 89,000 identity frauds were recorded, up 5% from last year. Representing over half of all fraud recorded by the UK’s not-for-profit fraud data sharing organisation, 83% of…
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Mortgage sales for the UK decreased by £1.8 billion in July, down 10.8% from the previous month, according to Equifax Touchstone analysis of the intermediary marketplace. Buy-to-let figures were resistant to the general decline, down by just 0.2% (£3.9 million) to £2.6 billion, while residential sales dropped by 12.8% (£1.8 billion) to £12.2 billion. Overall,…
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A new report released by Saga Money has revealed that the Bank of Gran and Grandad has donated a total of over £37 billion in funds to their grandchildren and one in ten grandparents say this money was to be spent on a deposit for a house. At a time when estate agents are warning that house…
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Deceased account management specialist, Phillips & Cohen Associates has appointed Bob Bednar as SVP Consumer Communication & Digital Strategy. Echoing the theme of the recent CFPB guidance on consumer contact strategies, the group has appointed Bednar to lead its digital innovation agenda. Mr. Bednar is a recognized consumer communications & marketing specialist with over 20…
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RateSetter has withdrawn from the Peer to Peer Finance (P2P) Association after breaching its transparency rules. Ratestter made the announcement in a statement “We have decided to withdraw from the Peer to Peer Finance Association. No customer has experienced any loss from our actions but we recognise that our actions breached the principles of the Association. No customer…
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