Credit, Collections & Insolvency News
Figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer new car finance market grew 13% by value and 5% by volume in March, compared with the same month in 2016. In Q1 2017, new business was up 10% by value and 3% by volume,…
Read more
Consumers are set to pay, on average, an estimated £333 more for their energy over the next year if they roll over on to a standard tariff, as 70 fixed price tariffs come to an end in Q2 2017, equating to nearly a whopping £200m “inertia windfall” for energy companies. comparethemarket.com’s data shows that there…
Read more
PayPlan is urging for more to be done to end the stigma surrounding financial difficulties. The call comes as part of Mental Health Awareness Week which is taking place between the 8th and 14th of May. According to a national survey of 9,000 of its customers, PayPlan found that a staggering 91 per cent experience stress as…
Read more
Zopa has been granted full authorisation by the Financial Conduct Authority (FCA) for peer-to-peer lending. Giles Andrews, co-founder and Chairman of Zopa said “Zopa, both individually and as a founder member of the Peer-to-Peer Finance Association (P2PFA), has campaigned for peer-to-peer lending to be a regulated activity for a number of years. We are delighted to…
Read more
The Central Bank of Ireland has published a consultation paper on the investment framework for credit unions. Under existing regulations, credit unions can invest in a range of specified investment classes. These include government securities, bank deposits, bank bonds and collective investment schemes made up of these instruments. These are subject to specified maturity and…
Read more
New figures released by the Finance & Leasing Association (FLA) show that the number of second-charge mortgage repossessions in Quarter 1 2017 was 17 – down by 50% compared with the same quarter in 2016. Commenting on the figures, Fiona Hoyle, Head of Consumer and Mortgage Finance at the FLA, said: “The number of second-charge…
Read more
The number of mortgages in arrears fell slightly in the first quarter of 2017, and is down on both the previous quarter and a year ago, according to the Council of Mortgage Lenders (CML). There were 92,600 mortgages in arrears, representing 0.84% of all mortgages, the lowest quarterly rate on record. Within the total…
Read more
OneFamily Funeral has revealed that in the UK between 2012 and 2017 the average price of a cremation increased by a huge 33% from £2,896 to £3,894, while the price of a burial has risen by 26% to £5,446. Comparatively inflation has risen just 11.91% over the same period. The most significant costs are for…
Read more
Arrow Global Group has announced its results for the three months ended 31 March 2017. Commenting on the results, Lee Rochford, Group chief executive officer of Arrow Global, said: “In Q1 Arrow Global delivered another impressive quarter of profitable growth. Revenues grew 45% and underlying profit after tax was up 37%. “It was a strong start to…
Read more
A company behind 99.5million nuisance calls has been fined a record £400,000 by the Information Commissioner’s Office (ICO). Keurboom Communications Ltd has been issued the ICO’s highest ever nuisance calls fine after more than 1,000 people complained about recorded – also known as automated – calls. The calls, made over an 18 month period, related…
Read more
The latest UK Personal Debt Index (PDI) has found that the number of young people seeking help with personal debt rose by +7.8 per cent in the first quarter of 2017. Individuals aged between 20 and 25 accounted for over one in ten of those undertaking support for their personal finances in the first three…
Read more
Specialist debt collection agency (DCA) ARC Europe has achieved the Government-backed Cyber Essentials certification following a further upgrade of its internal IT infrastructure and the introduction of an enhanced firewall. The Cyber Essentials scheme accredits those businesses that display significant levels of cyber security and who have correctly implemented five key controls that prevent up to…
Read more
RateSetter has announced a strategic partnership with personal loans provider George Banco and the acquisition of two specialist motor finance businesses as the platform widens its direct lending distribution network. Peter Behrens, RateSetter’s Chief Operating Officer said “Our focus on direct lending supports our goal of delivering excellent risk-adjusted returns for investors and attractive finance…
Read more