Credit, Collections & Insolvency News
The Credit Services Association (CSA) ha been included in the new register of apprenticeship training providers (RoATP). The scheme is aimed at improving the quality of apprenticeship delivery. It is already well progressed with its plans to deliver apprenticeships to its members and other companies who are interested in the areas specialising in Debt Collection,…
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Harrington Brooks has been granted full authorisation by the Financial Conduct Authority (FCA). As part of its new regime, the FCA wanted debt management firms to meet a set of required conditions, including: fair and transparent fees, the provision of suitable advice, fully trained employees, appropriate systems and controls to protect client money, and a…
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Nava Finance has appointed Target Group to service its loan platform. Nava secured approval from the Financial Conduct Authority (FCA) in January and has chosen Target Group to provide all loan servicing support when its platform launches to UK borrowers in early Q2. Ian Larkin, Co-Group CEO at Target Group said: “As a new entrant…
Read moreThe Council of Mortgage Lenders (CML) has released January’s mortgages figures. The latest report revealed that home buyers borrowed £8.4bn in January, down 28% on December and unchanged on January 2016. This came to 45,700 loans, down 28% on December and 1% on January 2016. First-time buyers borrowed £3.6bn for home-owner house purchase, down 29%…
Read moreCapital One Financial Corporation has announced the appointment of Amy Lenander as UK CEO. Lenander will be responsible for the overall strategic direction and general management of the UK credit card portfolio, replacing Chris Newkirk who has recently been appointed President of International and Small Business Card at Capital One. Since joining Capital One as…
Read moreHere is an overview of The Money Charity’s latest statistics for March 2017: Personal debt in the UK The average total debt per household – including mortgages – was £56,310 in January. The revised figure for December was £56,148. Based on January 2017 trends, the UK’s total interest repayments on personal debt over a 12…
Read moreSSE has announced that it will increase electricity prices by 14.9% at the end of the month. In response to the news Ben Wilson, energy spokesperson at Gocompare.com Energy, said: “We said last week when E.ON increased its energy prices for 2.5m standard variable tariff customers that SSE wouldn’t be far behind. Lo and behold,…
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UK consumer debt now stands at £240 billion according to new insight from. Almost three quarters (73 per cent) of UK adults admit they currently have some form of unsecured borrowing, such as personal loan, bank overdraft or credit card, with a third (33 per cent) of those admitting they rely on credit to get…
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Changes to the law covering bailiffs in England and Wales introduced in April 20141 are failing to protect people in financial difficulty from unfair treatment, according to a landmark new report, ‘Taking Control’, released today by a coalition of debt advice and other charities. The report finds evidence that bailiffs are: regularly using intimidating behaviour failing…
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The CML Director General Paul Smee has addressed the FCA’s management of the mortgage market. In a keynote speech at the Scottish annual lunch Smee said “Regulators need a detailed understanding of the mortgage market, but should avoid micro-managing it. ” The FCA’s mortgage market study has recently resulted in significant levels of data being…
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The Chartered Institute of Housing in Scotland (CIH Scotland) has added its voice to growing concerns about the negative social impact and spiralling costs of implementing Universal Credit. CIH Scotland, the professional body for Scotland’s housing sector, has highlighted a number of issues with the implementation of the new single payment as a Scottish Government consultation…
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Stafford Borough Council has written off £138,000 worth of business and tax debts worth more during the 2016/17 financial year. Business debts totalling more than £110,000 have been written off by Stafford Borough Council. A further £27,829 in council tax debts was also written off by the borough council’s cabinet at its Thursday meeting according…
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HSBC Holdings plc announces the appointment of Mark Tucker as a director and Group Chairman Designate from 1 September 2017. Tucker will take over as non-executive Group Chairman on 1 October. He is currently Group Chief Executive and President of AIA Group Limited (AIA). He joined AIA in July 2010, and led its successful IPO in October…
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