Credit, Collections & Insolvency News
Online research from Equifax, has revealed that 50% of consumers don’t want to spend more than 20 minutes completing the process. The survey, conducted by YouGov, also found that after submitting an application for a financial product online, many consumers expect an immediate decision on whether they have been approved for short term loans (34%),…
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A fifth of UK consumers choose everyday service providers – such as mobile phone, utilities and broadband companies – solely based on the perks and benefits they offer, according to new research from Echo Managed Services. The research, based on a nationally-representative sample of 1,000 UK adults, revealed that a quarter of all consumers are significantly…
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Creditfix’s latest UK Personal Debt Index (PDI) has been released and has found that throughout Quarter 4 2016, the percentage of people who own their own home fell to 8.5% of respondents, compared to the previous quarter when it stood at 10.5%. The quarterly report is put together following a survey of over 31,000 individuals, comparing…
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Building societies provided almost one in three mortgages approved in the final quarter of 2016. Collectively they approved 109,543 new mortgage loans, up 7% on the same period in 2015. Consumers saved less in Q4 than they did the Lending in 2016 as a whole was higher than in 2015 with mortgage approvals up by…
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Starling Bank, has signed a four year contract with Callcredit Information Group for decisioning and customer management solutions. The DecisionStrategy platform, the solution will provide multi-bureau credit decisioning and identity verification capability, helping Starling Bank to make informed decisions on an individual and quickly on-board customers with confidence. Callcredit will also be helping the app only bank,…
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Furness Building Society has appointed Matthew Dobson as it’s new Finance Director. Dobson joins from Williams & Glyn and has 15 years of experience in the banking industry – joins the building society having previously held senior roles at Barclays before moving to Williams & Glyn Treasury. Colin Millar Chairman at Furness Building Society, said ”…
Read moreBritish Gas is keeping its current gas and electricity prices on hold until August. The company said it was able to hold tariffs in the face of higher wholesale prices by cutting its costs. However, Scottish Power has said it is raising its dual fuel prices by an average of 7.8% from 31 March. It…
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The Money Advice Service has launched an Online Money Manager service. The new service is an interactive tool that offers personalised advice, on making the most of money for Universal Credit claimants. It offers help and advice on a range of money topics, including opening a bank account, keeping on top of bills and dealing…
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Importance of qualifications in the debt collection sector Twenty years ago the idea of qualifications in the debt collection sector were alien: why would a firm spend money on their collector’s education and provide time away from the daily task of collecting? After all it’s a simple game – ask for payment, take payment –…
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Bob Wigley has been announced as the chair of the new integrated trade association called Financial Services Trade Association, which will bring together six member organisations operating across a wide range of financial services in the UK. The six trade associations which are set to merge are: The Asset Based Finance Association (ABFA) British Bankers’…
Read moreThe latest released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market grew 12% by value and 8% by volume in 2016. New business was up 3% by value and down 3% by volume in December, compared with the same month in 2015.…
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The latest figures released by the Finance & Leasing Association (FLA) show growth of 9% in consumer finance new business in 2016. New business in December grew by 2% compared with the same month in 2015. Credit card and personal loan new business together grew by 8% in 2016, while retail store and online credit…
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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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