Credit, Collections & Insolvency News
Masthaven Bank has made three new appointments. The bank has appointed John Smith as national account manager, first charge mortgages. Smith previously worked at Platform Home Loans and Aldermore and helped launch Bluestone into the specialist mortgage market. Wes Baker and David Owen have also joined the firm as business development managers. Baker has worked…
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Collections Conference (UKCCC), the Credit Services Association’s 2016 flagship event, has been named Conference of the Year by the Trade Association Forum (TAF) in its Best Practice Awards 2017. The award judges were looking for an outstanding event which featured ‘particularly relevant and informative content specific to the audience’, as well as utilising ‘innovative technology’…
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Credit company Provident, responsible for sending nearly one million nuisance texts in six months has been fined £80,000 by the Information Commissioner’s Office (ICO). Provident Personal Credit is based in Bradford, employed third party affiliate companies to send 999,057 unsolicited text messages on its behalf to promote personal loans for its brand Satsuma Loans. This…
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The winners of the UK’s largest consumer-voted awards for the consumer credit industry have been revealed at a ceremony in Mayfair. Over 27,000 consumers voted in this year’s Consumer Credit Awards, sharing their thoughts on 137 firms. Launched in 2016, Birmingham-based not-for-profit Fair For You took home 2 awards, including ‘Best Newcomer’ and ‘Consumer Credit…
Read moreEquifax and Energy Solutions company ENSEK, have formed a joint partnership to support identity verification and credit assessment services for new-to-market energy suppliers. The integration between Equifax and ENSEK will supply real-time consumer and commercial data to energy providers, enabling them to onboard new customers more efficiently as part of an automated process. The insight…
Read moreNew proposals to ensure that debt advice commissioned by the Money Advice Service targets those most in need across the UK have been published for consultation. These are designed to deliver comprehensive, high-quality services that will both tackle debt and improve people’s well-being. A strategic approach to debt advice commissioning sets out a new vision…
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Callcredit Information Group has announced reported record results, at the same time launching a new brand identity. The Group recorded an 18% increase in gross revenue to £201 million (2015: £170 million). Over the same period, group operating profits outpaced revenues, growing by over 20%. The results confirm Callcredit has very much come of age…
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More than 4 in 10 UK consumers say that they are still negatively impacted by financial mistakes they made in the past, according to research from Aviva. A greater number still say they wish they had managed their finances differently (64%) while 63% wish they had learnt more about financial matters when they were younger.…
Read moreThe government’s latest insolvency statistics show that women continue to be more likely than men to enter an insolvency procedure and that insolvencies are most common in coastal towns, the North East and towns with declining industries, says insolvency and restructuring trade body R3. The 2016 statistics, published this morning, show that 53.4% of insolvencies…
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The Insolvency Service is clamping down on individuals who are disposing of their assets irresponsibly when facing financial stress, rather than paying back their debts, says accountancy firm, Moore Stephens. Moore Stephens says that there has been a 24% rise in the number of Bankruptcy Restriction Orders (BROs) issued to penalise the ‘dissipation of assets’…
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Citizens Advice has welcomed the announcement by the energy regulator Ofgem that it will set tougher limits on the money that energy networks can make from 2021. Ofgem has said that when it sets the next price control for these companies, they should expect lower returns. The national charity has also called on the energy…
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MoneySuperMarket analysed three million loan enquiries made on its Smart Search tool from January 2015 – March 2017 to find that more than one in four (28 per cent) Brits want to borrow an amount equal to at least half of their annual income. Worryingly, almost 10 per cent of personal loan enquiries are from people hoping…
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European Union (EU) finance ministers on Tuesday called for speedier unloading of bad debt by EU banks and recommended more money be put aside by the banks to protect them from trouble. The decade-long financial crisis left European banks holding nearly 1 trillion euros of non-performing loans (NPLs), reducing their ability to lend and slowing…
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