Credit, Collections & Insolvency News
DFC Global the owner of Dollar UK which includes the Money Shop brand has been put up for sale amid a squeeze on profits following payday fee caps, according to Sky News sources. DFC Global has appointed the US investment bank KBW to sound out potential buyers for the business. Dollar UK brands also include the…
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Ireland raised 4 billion euros at its first 20-year bond sale on Wednesday, drawing more than twice as much demand in a syndicated deal that covered over a third of its minimum funding needs for the year. Kicking off its annual funding drive with an issue placed via a syndicate of banks for the fifth…
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MoneySuperMarket’s annual insight into the nation’s financial stress levels shows over 11 million people (22 per cent) cite daily money worries as their main cause of stress. Financially stressed adults suffer from a range of emotional consequences too, including feeling panicky (37 per cent), overwhelmed (33 per cent), disappointed (31 per cent), exhausted (27 per cent)…
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The Bank of England has published its latest monthly Money and Credit report, showing consumer credit grew by £1.9 billion in November. The 12-month annual growth rate in consumer credit now stands at 10.8% – its highest since October 2005. Joanna Elson OBE, chief executive of the Money Advice Trust, the charity that runs National…
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For the majority of consumers in the UK, bills aren’t getting any clearer or easier to understand, which is confusing customers and wasting an important customer touch point, according to new research from Echo Managed Services. This is despite up to a third of people stating that clarity is the number one billing improvement businesses need…
Read moreThe government’s plans for a fresh round of welfare cuts, dubbed ‘Bedroom Tax 2’, threatens to undermine housebuilding projects, increase homelessness, and weaken public sector finances across Scotland, it has been claimed. According to The Herald, payments to help tenants meet their social housing costs will be capped by the UK government for the first time with…
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Monese, a London, UK-based mobile banking service, has raised $10 million in funding. Backers included Anthemis Exponential Ventures, Korea Investment Partners and STE Capital. The company intends to use the funds to expand into mainland Europe as well as to launch new features like direct debit and credit services. Led by Norris Koppel, Chief Executive…
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The Competition and Markets Authority (CMA) has found that Mastercard’s acquisition of VocaLink gives rise to competition concerns. Mastercard UK Holdco Ltd, a subsidiary of Mastercard International is buying VocaLink Holdings Ltd (VocaLink). It already owns and operates credit and debit card schemes Mastercard, Maestro and Cirrus, and has also bid to supply infrastructure services…
Read moreHousehold bills rose by almost £200 in 2016 according to new findings from comparethemarket.com. An analysis of costs across energy, motor and home insurance found that, after a £180 drop in 2015, bills rose by 9.7% in the past year from £2,032 in 2015 to £2,223 in 2016. Key finings in the report included: The…
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Credit broker specialist firm Loan Link Limited has appointed liquidators. Loan Link was based in Cardiff with it’s main activities were brokering loans and arrears management services for its parent company Nemo Personal Finance. Principality Building Society acquired Loan Link Limited and formed second charge lender Nemo Personal Finance in 2004. In February 2015, second charge lender…
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More than a tenth of the adult population expects to fall behind on their finances this January, while less than a third have set a personal budget and ‘perilously few’ have a plan to repay the debts they currently owe, according to new research from National Debtline, run by the Money Advice Trust. A poll of…
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The biggest rise in food and drink expenditure for 20 months has driven essential spending to its strongest level of growth since February 2014, according to the latest Lloyds Bank Spending Power Report. Overall essential spending grew by 1.0% last month, the third consecutive month of positive growth. Lloyds Bank’s analysis of its own current…
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South Tyneside Council has seen the amount of Council Tax it is owed almost double over the last three years. Data obtained shows that the authority was owed £1.19million at the end of the 2013/14 financial year. By the end of 2015/16, that figure had jumped to £2.04million – a rise of more than 70%.…
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