Credit, Collections & Insolvency News
Danske Bank has revealed its Northern Ireland business saw new mortgage lending approvals grow 96% over the past year. The Northern Irish arm reported a profit before impairments of £91million for the 12 months to the end of December 2016, a 5% increase on 2015. Kevin Kingston, CEO of Danske Bank UK, said it had introduced…
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There were more county court judgments (CCJs) against consumers in England and Wales during 2016 than any year on record, according to figures released today by Registry Trust. A judgment is incontrovertible proof that debt has not been managed. In 2016, 912,389 judgments were registered against consumers in England and Wales. Rising almost a quarter…
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Ofgem has announced the levels of the prepayment price cap which come into effect this April. The temporary price cap is one of the Competition and Market Authority’s (CMA) remedies resulting from its two year investigation of the energy market. The cap will initially apply to over four million households who prepay for their energy, mostly with…
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New research from Provident Personal Credit has revealed that almost half (47%) of the UK consider themselves to be ‘just about managing’ (JAMS) financially. The survey of 2,000 adults revealed that 14% had to give up necessities like food and daily travel costs to pay for unexpected expenses, with a further 11% of respondents saying they had…
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Steve Hughes has been named as the new Chief Executive Officer (CEO) of Principality Building Society. Hughes is currently the Finance and Transformation Director is set to move into the role in early March following Graeme Yorston’s decision to step down as CEO. Laurie Adams, chairman of Principality said “After a rigorous selection process, I am…
Read moreMillions of people in the UK who rent their homes from private landlords are putting themselves and their families at risk of eviction and financial hardship due to lack of a financial back-up plan, according to research from Scottish Widows. Despite almost a third (30%) of private renters admitting that they’d not be financially secure…
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The Credit Services Association (CSA) has criticised a report from the Institute of Fiscal Studies (IFS) that suggests only a fraction of the cash being raised by a new levy on firms of a certain size from April will be spent on Apprenticeships. The CSA also disagrees with the IFS claim that increasing the number…
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Wonga will confirm that it has decided to offload BillPay, one of its most valuable units, to Klarna, a Swedish provider of e-commerce solutions according to Sky News. Klarna operates in Austria, Germany, the Netherlands and Switzerland. The deal will take place this week and will be worth about £60 million. Talks between Wonga and…
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High Court Enforcement Group will be sponsoring Sam Evans, a member of their Client Services team, as he prepares to run the London Marathon for Ronald McDonald House – Alder Hey. Ronald McDonald House provides free accommodation for parents/carers of critically ill children being treated at Alder Hey Hospital. In their 20 years they have…
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The Competition and Markets Authority’s (CMA) shake-up of the banking industry will offer overdraft users the opportunity to save an average of £180 a year, while other current account holders can save an average of £92. In its final report on the retail banking market published last year, the CMA announced a package of reforms…
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Callcredit Information Group has announced a partnership with a new to market fintech platform, Smartr365, to speed up mortgage applications and provide real-time affordability assessments. The partnership will include providing Smartr365 users with access to MOGObankconnect, an app that enables consumers to securely share online banking transaction data using their personal device, to confirm income…
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Andrew Bartle, co-founder of Lowell Group is to leave the company later this year to develop new ventures. Bartle has been a key figure in the industry for almost fifteen years, and a keen supporter of the Credit Services Association. James Cornell Chief Executive Officer said “Andrew and I have worked together for many, many years. As…
Read moreThe financial stresses and pressures of self-employment are taking their toll on family life, according to the latest report from Scottish Widows’ think tank, the Centre for the Modern Family. Findings of ‘Self-employment and the Family’ show that one in five relatives of a self-employed worker (20%) report increased stress levels in their household due…
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