Credit, Collections & Insolvency News
High Street lender H&T has announced its latest company results with it’s loans business showing an 88% increase on last year. The results for the last six months (ending 30th) June 2017. John Nichols, Chief xEecutive, said: “We have made a strong start, in this our 120th anniversary year, with a 62% increase in profit before…
Read more
Complaints about consumer credit including payday loans and hire purchase showed a rise in the second quarter according to latest statistics released by the Financial Ombudsman Service (FOS). Consumer credit complaints totalled 7,281 in the three months to June 30, up from 5,846 in the same period last year. Payday loans, which provide short-term credit at…
Read more
Risk solutions specialist, TruNarrative has partnered with Creditsafe, to synchronise their data and provide unparalleled KYC, AML and fraud protection to businesses all over the world. TruNarrative customers can now utilise the Creditsafe data as part of a published TruNarrative journey or directly via the TruNarrative app store. This allows for data and checks to…
Read more
Almost 1.3 million energy customers have been overcharged a total of £102 million – the equivalent of more than £79 each – as a result of billing errors by energy companies over the last year, according to new research from uSwitch.com, the price comparison and switching service. Nearly one in three (28%) of those affected said that they…
Read more
Credit decisioning specialist Zoot, has announced a partnership with credit scorecards specialist Credit Kudos. The combination will enable lenders to easily incorporate account transaction data into their existing risk process, leveraging Credit Kudos’ pre-configured risk models through Zoot’s cloud-based platform integrating data and scoring to create a seamless application process. Adam Jackson, Zoot’s Managing Director…
Read more
UK Finance has announced the latest first-time buyer activity statistics which show continued growth in June. Here is an overview of the main statistics: On a non-seasonally adjusted basis, UK Finance data shows that mortgage lending in June rose: First-time buyers borrowed £5.9bn, up 26% on the previous month and 9% on June 2016. This…
Read more
A recent UK wide survey conducted by Paymentsense has revealed that 45.5 million UK residents have less than one months salary set aside in savings. In addition to this, the study also found that 30% of us don’t in fact have any money set aside in a savings account, to protect us from unforeseen circumstances.…
Read more
Short term lender Oakam, has appointed Julie Haugen to Chief Product & Marketing Officer. Most recently, she was Oakam’s Head of Digital Strategy & Customer Experience, playing an instrumental role in the digital transformation of the business. In her new position, Haugen will drive customer-led digital product innovation through closer alignment of Oakam’s marketing and…
Read moreDevelopments in the wider economy are making it more challenging for homebuyers and savers. Building societies continue to support both groups and maintained a high market share of new mortgage lending and savings in the second quarter of 2017 according to latest figures from the Building Society Association Building societies approved 112,340 new mortgage loans.…
Read more
The number of cash payments decreased by 11% between 2015 and 2016, but it remains the most frequently used payment method in the UK, according to new data published today by UK Finance. Consumers and businesses made 15.4 billion cash payments in 2016 – down from 17.2 billion in 2015 (a decrease of 11%). However…
Read more
Shelter has been announced as the supplier to deliver a three-year contract for specialist debt advice support services on behalf of the Money Advice Service. The support service will provide organisations across the debt sector with free access to a panel of experts to help guide them through complex debt cases and help them with…
Read more
The Central Bank of Ireland has released Ireland’s Credit and Debit Card Statistics for Q2 2017. Here is an overview of the main findings. Debit card Point of Sale (PoS) transactions, at €2.9 billion in June 2017, were 16 per cent higher than the same month in 2016. Credit card PoS spending was 5 per cent higher than…
Read more
Data from Barclaycard has revealed that consumer spending has risen by 3.5%. The data shows that consumers received some respite from a continued drop in petrol prices, which have fallen from an average of 120p per litre at the start of the year to 113p last month. As a result, expenditure on the forecourt increased…
Read more