Credit, Collections & Insolvency News
GFKL Lowell Group has announced the appointment of Thomas Dold, previously CEO of Tesch Inkasso Group, as DACH (Germany, Austria, and Switzerland) Regional Manager with immediate effect. The Regional Manager role is a new one for the Group and is introduced to bring the capacity and capability necessary to drive the Group’s growth. Thomas Dold…
Read moreCitizens Advice has said that energy firms charging much higher prices for the standard tariff is fundamentally unfair. This follows the Secretary of State for Business and Energy Greg Clark saying that he will look at evidence that it has been claimed shows gas and electricity firms make as much as 24 per cent profit…
Read moreEquifax has commented that the clock has started for Telco businesses to prepare for new data protection rules. Neil Compton, Telco and Utilities Director at Equifax said “Privacy and data protection are high on the agenda for consumers and regulators. Telcos are custodians of vast amounts of data and must start overhauling their procedures now to…
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Three-fifths (59%) of British adults say they are neither more pessimistic nor more optimistic about their personal finances following the UK’s vote to leave the EU, according to new research by insolvency and restructuring trade body R3. However, the R3/ComRes survey of over 2,000 British adults found that one-in-four (25%) say they are more pessimistic…
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Nearly a quarter of UK adults (23%) – 11.6 million people – are still struggling with last Christmas’ financial hangover, according to new research conducted on behalf of Debt Advisory Centre*. The average outstanding debt is £517 – suggesting that £6 billion borrowed last Christmas is still outstanding. Overall, 46% of people say that they…
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Intrum Justitia and Lindorff have announced plans to create Europe’s leading debt collection credit management service. The two companies have a local presence in 23 markets across Europe and a team of more than 8,000 employees. By joining forces, both local and global clients will benefit from a strong pan-European platform, enhanced service offering, innovative…
Read moreThe Foundation for Credit Counselling, trading as StepChange Debt Charity and StepChange Debt Charity Scotland, has received authorisation from the Financial Conduct Authority (FCA). Following news of the approval of the charity’s application, Mike O’Connor, Chief Executive of StepChange Debt Charity, said “Our FCA authorisation is testament to the charity’s work in providing the highest…
Read moreThe latest figures from the Finance & Leasing Association (FLA) show growth of 7% in consumer finance new business in September, compared with the same month last year. In Q3 2016, new business was also up by 7% compared with the same quarter in 2015. Credit card and personal loan new business together grew by 8%…
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New figures released by the Finance & Leasing Association (FLA) show that new business in the point-of-sale (POS) consumer new car finance market grew 9% by value and 3% by volume in September, compared with the same month last year. In Q3 2016 as a whole, new business was up 7% by value and 3%…
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The British Bankers Association’s has pledged to update its Access to Banking Protocol – the guidelines covering the way banks manage branch closures – in response to an independent report by Professor Russel Griggs. Professor Grigg’s report said banks were using the correct “robustness and rigour” when deciding whether to shut branches, but could “significantly…
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New figures released today by the Finance & Leasing Association (FLA) show that the number of second-charge mortgage repossessions in Q3 2016 was 36, down 35.7% on the same quarter in 2015. Commenting on the figures, Fiona Hoyle, Head of Consumer and Mortgage Finance at the FLA, said “The third quarter of 2016 saw further…
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The overall mortgage arrears rate in the third quarter was the same as in the second quarter, with 0.84% of all mortgages recording arrears equivalent to more than 2.5% of the mortgage balance. This continues to represent the lowest arrears rate for over 20 years according to the Council of Mortgage Lenders latest statistics. The…
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Debt collection agency Advanced Collection Systems (ACS) has received support from Innovate UK, the UK’s Innovation Agency and executive arm of the Department for Business, Energy & Industrial Strategy (BEIS), to develop and launch an intelligent software solution with the goal of changing the debt recovery model used throughout the sector. The project will be…
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