Credit, Collections & Insolvency News
Dundee City Council has written off £12.8 million of debt in just three years according to local news sources. An investigation into the local authority’s finances has uncovered the large sums owed to the public purse that were written off between 2013 and 2016. That included more than £4.75m in unpaid rates from businesses, £2m…
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BNP Paribas has named Francois Regnier as it’s new head of its compliance team in the UK. Regnier has worked at BNP Paribas since 2001, according to his LinkedIn profile, most recently serving as its chief operating officer and deputy to Verstraeten. His appointment was announced internally to the bank’s UK compliance department earlier in Januar. Regnier…
Read moreThe number of properties taken into possession last year declined by almost 25%, according to new data from the Council of Mortgage Lenders (CML) Last year’s total of 7,700 cases of possession compared with 10,200 in 2015, and was the lowest number since 1982. Over the course of 2016, the number of mortgages in arrears also fell by 7%. However,…
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New figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions was 144 in 2016, almost 37% lower than in 2015. In the final quarter of 2016, the number of repossessions was 39, up by 18% compared with the same quarter in 2015. The rate of second-charge…
Read moreJohn Ricketts has succeeded Leigh Berkley as President of the Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors. His appointment was confirmed at the CSA Annual General Meeting (AGM) in Leicester on February 7th. A former Managing Director of iQor in the UK and Canada, and the current…
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The GFKL Lowell Group has announced the launch of a new Decision Science/analytics graduate programme. GFKL Lowell’s Decision Science department is focused on understanding, measuring, and predicting consumer financial behaviour. The team comprises business analysts, statisticians and quantitative and behavioral scientists dedicated to addressing the company’s most challenging analytic problems. The 18-month programme will see…
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Styles & Wood Technologies has launched a new Enterprise Risk & Incident Management software solution which enables businesses to implement effective processes to identify, manage, monitor and report the risks it is or might be exposed to. The Arctick GRC solution has been developed in partnership with Styles&Wood’s existing client Nationwide Building Society, which has…
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Hogan Lovells is advising the Department for Education (DfE) on its plans to sell £12 billion of student loan debt to the private financial sector. The firm is fielding a team led by deputy CEO David Hudd and London finance partner Julian Craughan. Weil Gotshal & Manges also has a role, advising Barclays which is…
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The government has begun its sale of the student loan book, which it expects to recoup £12billion The universities minister, Jo Johnson, said the move would have “no impact” on student borrowers paying off loans, as terms and conditions would remain the same after the sale was completed. The sale covers £4 bill ion of…
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In the six months after the Brexit vote the number of decrees for debt against Scottish consumers fell to a record low. Over the year as a whole there was little change, so great interest will attach to the first half of 2017. There were 20,822 debt decrees registered against Scottish consumers in 2016, only one…
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Which? is calling for the regulator to act on un-arranged overdraft fees after new research finds charges from big high street banks could cost up to 180% of the amount borrowed. The Which? research has found that consumers needing as little as £100 could be charged up to £156 more by some major high street banks…
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Buddy Loans has received full accreditation from the Financial Conduct Authority (FCA), enabling the U.K.’s leading guarantor loan provider to give more consumers access to credit. The Cheadle-based company was set-up in 2013 by entrepreneurs Guy Mackenzie and Nicholas Zapolski, to provide consumers, who have been refused loans from mainstream lenders, with affordable credit. Buddy…
Read moreAnaCap Financial Partners has announced the signing of an agreement to acquire a portfolio of Italian performing and non-performing corporate secured loans from Barclays. The portfolio, which has a gross book value of €177m, comprises loans to primarily small and mid-sized corporates secured against real estate located mostly in the north of Italy. The agreement follows AnaCap’s Credit Funds’ acquisition…
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