Credit, Collections & Insolvency News
Jos Timmer (also known as James Thompson) and Elizabeth Sarah Rowe have been disqualified as directors for the nefarious trading activities of an internet loan brokerage they ran. Timmer has been disqualified for 12 years, while Rowe will be subject to a six-year ban. Both were directors of More Financial Limited, which was wound up in…
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Three Directors of a former Bournemouth-based credit union which went into administration owing more than £7million have received lengthy bans. Richard Charles Nichols, Phillip Raymond Neale and Gillian Birkett were directors of Enterprise The Business Credit Union Ltd T/A DotcomUnity Credit Union (EBCU) which went into administration on 14 May 2015 with estimated total creditor claims…
Read moreBeverley Building Society has promoted Janet Bedford from Finance Director to Deputy Chief Executive. Last year CEO, Peter Myers announced that he would leave Beverley Building Society. Bedford will lead the society for an interim period until a new chief executive is announced in the Summer. Peter Myers said: “I am thrilled that Janet has…
Read moreThe Council of Mortgage Lenders estimates that gross mortgage lending reached £21.4 billion in March. This is 19% higher than February’s lending total of £17.9 billion, and 19% lower than the £26.3 billion lent in March last year. The sharp fall in year-on-year lending was expected, as March last year saw significant rises in activity…
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Debt Management firm Debt Release Direct (DRD) has ceased trading. Ben Woolrych and Anthony Collier of FRP Advisory LLP together with Paul Boyle and Tom Bowes of Harrisons Business Recovery and Insolvency Limited were appointed as Joint Administrators. Prior to the appointment of the Joint Administrators, DRD concluded that it was no longer in a…
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The Financial Conduct Authority (FCA) has announced it will looking at lending practices in the motor finance market. The move was announced in its business plan for 2017/2018. The FCA said “it was concerned that there may be some irresponsible lending in the sector. We are concerned that there may be a lack of transparency, potential…
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Households are experiencing the tightest squeeze on their spending power since the summer of 2014, according to Markit’s Household Finance index. A “sharp and accelerated” squeeze on households’ financial well-being is largely being driven by renewed pressures on the amount of cash available to spend – which has fallen at the fastest pace seen since…
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Renault UK has announced the appointment of Vincent Tourette as Managing Director. Tourette has worked for the Renault-Nissan Alliance for 23 years. Most recently, Vincent was with Nissan, based in Tokyo, as Vice-President, Sales and Marketing, with global responsibility for their LCV range (pick-ups, vans and light trucks). Previously he has held a variety of…
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Over two thirds (69%) of organisations prioritise risk management and compliance over customer experience and operational responsiveness, according to a study from Callcredit Information Group. The research, part of Callcredit’s New Affordability report, asked UK risk and customer experience managers about their attitudes towards affordability assessments. It unearths the struggle experienced by many when it…
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New research from more 2 life, the innovative equity release lender, shows that the size of the retirement lending market in the UK is set to rise from £65bn in 2017 to more than £142bn in 2027 – an increase of over 120%. The research predicts that total debt among the over-65s will pass the…
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Underhand tactics by the personal loans industry are costing consumers as much as £400 million every year according to a new report today by TSB Bank. The report findings suggest that: Consumers are being punished for shopping around – with providers making a hard mark on their credit file just for asking for a loan…
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Experian has combined its flagship decision management platform with its market-proven collections product Tallyman to offer a cost-effective, compliant and customer-focused approach. PowerCurve Collections will unlock the full potential of data and analytics, allowing companies to make decisions based on the needs and situations of individual customers. “Every contact with a customer is an opportunity to strengthen the…
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According to the National Crime Agency’s Strategic Cyber Industry Group, in its Cyber Crime Assessment report 2016, there is “A need for a stronger law enforcement and business partnership to fight cyber crime” In this article, Andrew Sheldon MSc, one of the UK’s leading experts in the field of digital forensics technology and application, explains how the…
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