Credit, Collections & Insolvency News
The number of debt judgments in Northern Ireland fell slightly during the first three months of 2017, according to figures released today by Registry Trust. There were 1,925 small claims judgments in Q1 2017, three percent fewer than the first quarter of 2016. The total value rose by six percent, however, to £3.9m. The average…
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Just one in ten (10%) British adults say they have received useful advice about personal finance through their school or college, a new survey of over 2,000 British adults by insolvency and restructuring trade body R3 and ComRes has found. A similar proportion, 11%, say the advice they received via public education was not useful.…
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Nava has announced its appointment of Equifax to support the underwriting of unsecured personal loans for its UK borrowers. Nava has integrated Equifax solutions with its existing underwriting and risk management software, to support its credit analytics, credit scoring and applicant ratings. Nava is a next generation consumer lending platform due to launch later this…
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The Central Bank of Ireland today publishes its Annual Report for 2016, which contains the Statement of Accounts, and the Annual Performance Statement for Financial Regulation. In line with the mandate to safeguard stability and protect consumers, the Annual Report provides an overview on key activities and developments in 2016 and the Annual Performance Statement…
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Morses Club PLC, the UK’s second largest home collected credit lender, has announced that it has received full FCA authorisation following a period of operating under interim permission. Paul Smith, Chief Executive Officer of Morses Club, commented “We are delighted to have received full FCA authorisation, marking a significant step in the development of the…
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Lindorff Group has announced it’s Quarter 1 results. Net revenue in the quarter was EUR 179m, an increase of 33 per cent compared to the same quarter last year and EBITDA excluding non-recurring items was up 38 percent. The growth this quarter was driven mainly by the Debt Collection business following the acquisition of Aktua, the…
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There were more small claims decrees for debt against Scottish consumers in Quarter 1 (Q1) 2017 than in any other first quarter on record, according to figures released today by Registry Trust. In the first quarter of the year, 6,879 debt decrees were registered against consumers in Scotland, over a third higher than the same…
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New research from Gocompare.com finds that young people’s financial reliance on their parents could be putting families under pressure. The Bank of Mum and Dad picks up bills for food, mobile phones, clothing, cosmetics and transport – as well as treats. The research, commissioned by Gocompare.com Money, looked at the financial help parents of 17…
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A study, by the International Longevity Centre-UK (ILC-UK), supported by the Building Societies Association (BSA) has found that borrowing into older age is likely to move from niche to mainstream within the next decade. The amount of mortgage debt held by over 65s is set to increase by more than £19 billion by 2030 (from…
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A total of 196,909 court fines imposed since 2011 in Ireland, worth a total of €48.5 million, remain unpaid. The latest figures from the Courts Service of Ireland show that the rate of evasion is increasing, with €16.5 million overdue at the end of 2017 compared to €7.5 million in 2011. Jim O’Callaghan, justice spokesperson…
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The Mortgage division of Secure Trust Bank has agreed a strategic partnership with Optima Legal, as the firm looks to make headway in the ‘fee assisted’ remortgage market. Secure Trust Bank’s new Mortgage team will work with Optima Legal to ensure that new mortgage instructions are dealt with as quickly and smoothly as possible for…
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Arrow Global has completed its £14 million acquisition of Italian business Zenith Service S.p.A, having received regulatory approval from the Bank of Italy. Zenith is also a leading servicer of salary assignment loans , managing about €1.9 billion of CQS assets. In June 2016, the estimated stock of the securitized market for CQS in Italy…
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Russell Hamblin-Boone is to step down after five years at the helm of the Consumer Finance Association according to Sky News reports. His departure also appeared to be confirmed on Linkedin. An announcement confirming his formal departure is expected to be confirmed soon.
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