Credit, Collections & Insolvency News
One out of every 10 Irish borrowers is in some form of arrears on their mortgage. A total of 76,400 mortgages on homes were in arrears in the first three months of this year, new Central Bank of Ireland figures show. Of the total in arrears, almost 34,000 mortgage accounts are more than two years…
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Peer-to-Peer lender RateSetter has cancelled a deal to lend directly to guarantor George Banco’s customers. Last month RateSetter and George Banco entered a lending agreement as Ratesetter also announced the acquisition of Vehicle Stocking and Vehicle Credit. The partnership with George Banco was designed to build relationships with lenders. RateSetter announced its decision to pull out of…
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PayPlan has announced the announcement of a New Head of Policy & Partnership. Alistair Chisholm joins the free debt advice provider as Head of Advice Sector Policy & Partnership. The role will see Alistair working alongside the wider PayPlan team and with external partners to enhance current practices to offer even more support to those in…
Read moreEquifax has unveiled a new toolset of creditworthiness and affordability indicators. The indicators incorporate borrower current account turnover data to help lenders make informed, responsible lending decisions through enhanced understanding of a customer’s financial background and estimated income level. The combined insight on a borrower’s income, outstanding debt and credit usage will provide lenders with a…
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The British Bankers’ Association (BBA) has published principles to improve customer access. The principles have been developed by the BBA’s third party access working party to improve customer access under the vulnerability taskforce principle 5 (easy for friends and family to support). The principles relate to legal instruments for third-party access, including guardianship and intervention…
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Arvato Financial Solutions has appointed a new Commercial Director in the UK & Ireland as it targets growth in the Finance & Accounting Business Process Outsourcing (F&A BPO) and debt collection space. Debbie Nolan, who has spent the last four years as Business Development Director in Arvato’s Customer Services business, will move on to its…
Read moreMortgage and Loan Provider JustUs has announced the appointment of a new Chief Operating Officer. Mike Moroney JustUs from Santander where he has spent the last nine years supervising financial advisers throughout the North West of England as part of the FCA Senior Manager regime. Moroney is well known to the JustUs team and the mortgage community at…
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BNP Paribas Personal Finance has acquired Swedish consumer finance company SevenDay Finans. Sevenday will become part of Ekspres Bank, a commercial brand of BNP Paribas Personal Finance in this region. Ekspres Bank is part of BNP Paribas’s Scandinavian division. Operating in Norway and Denmark since July 2014 under the brand Ekspres Bank which was acquired…
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Credit Services Association (CSA) President John Ricketts has joined Ardent Credit Services as its new Managing Director (MD). The appointment sees the former iQor chief take the reins at the Debt Collection Agency (DCA) in its twentieth anniversary year. Existing Managing Director and founder, Steve Murray, will now take on the role of Cheif Executive…
Read moreMetro Bank has announced that it has completed the purchase of a portfolio of UK mortgages from Cerberus European Residential Holdings for £596.7 million. All lending in the Portfolio is secured on property, well diversified across the UK, and has a similar credit risk profile to Metro Bank’s current mortgage book. The Portfolio consists of…
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Debt charity Christians Against Poverty has announced that it has been officially authorised by the Financial Conduct Authority (FCA). Chief Executive Officer Matt Barlow said: “We fully support the FCA in its mission to ensure best practice in the industry on behalf of the consumer. It has long been our goal to offer the very…
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The importance of addressing the priority digital collections needs within your business “New and improved” technology is touted as the solution to the collection industry’s growing complexity. But just as endless “improvements” overhyped in grocery products lead to consumer distrust, technology-solution claims deserve a similar sceptical reaction. Consumers and collectors alike would benefit from taking…
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Ignition Credit, a UK provider of vehicle and asset finance for SMEs, is continuing to expand with the appointment of three new senior members to its team. With more than 20 years’ experience working in the finance industry both in the UK and internationally, Alan O’Connor has relocated to Cornwall to take up the position…
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