Credit, Collections & Insolvency News
A research report by Callcredit Information Group has found that three quarters of consumers attach a financial value to their personal data. The survey of 3,000 UK-based consumers has revealed that 73% attach a financial value to the personal data they share online, which they believe businesses and organisations must recognise if they wish to use…
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Valour Group (UK) has launched a mini-bond to raise up to £5million from private investors. The money from The Valour Group Bond has an annual interest rate of 8.49% per annum, will be used to grow the loan book of the company’s lending subsidiary Savvy.co.uk. Mini bonds are an unsecured way for individuals to lend money…
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Equifax has been appointed by non-profit lender Street UK to support the launch of its online lending platform, offering affordable and responsible short-term personal loans with clear and transparent fees. Street UK provides loans to people underserved by traditional lenders. Its new online platform will offer personal loans of between £100 and £500 up to six…
Read moreCallcredit Information Group, backed by private equity firm, GTCR, has acquired Recipero. Recipero has built one of the world’s largest proprietary databases containing detailed information of the history and ownership of mobile devices, in a deal designed to accelerate the growth of the company’s fraud and identity protection strategy. Mike Gordon, CEO, Callcredit Information Group,…
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The Money has released research examining financial education in secondary schools. The Key Findings of the report: Financial education is not as effective as it should be. Almost two thirds of teachers tell us financial education in the UK is somewhat or very ineffective. The introduction of financial education to the curriculum achieved little on the…
Read morePRA Group has announced its UK business has received full authorisation from the Financial Conduct Authority (FCA). Tiku Patel, Chief Executive Officer of PRA Group Europe said “The FCA approval process requires very high standards of conduct and customer treatment and we are delighted to have received full authorization. Delivering fair customer outcomes is at the…
Read moreCustomers who make a complaint are less satisfied with how their supplier handles it compared to two years ago, according to Ofgem’s biennial complaints survey. Ofgem commissions a survey every two years which compares how suppliers deal with their domestic and micro-business customers’ complaints. Since complainants were last surveyed in 2014, the total number of…
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A new report from Citizens Advice Wales “Fairness for all – Improving council tax debt collection in Wales” highlights the findings of research undertaken to better understand the recent increase in council tax arrears seen over the last few years. Council tax arrears is now the largest debt issue representing 13%t of all debt issues. Council…
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Callcredit has announced it’s new management team within the Group’s Marketing Solutions division. The new, seven-strong team sees specialists from across Callcredit’s Marketing Solutions division move into new roles and consists of Chris Prior who will head up the division’s retail, financial services and automotive teams; Ryan Kemp who heads the partnerships team; Gary Childs, head…
Read moreAvantCredit has announced that it is now fully authorised by the Financial Conduct Authority (FCA). AvantCredit have operated in the UK since October 2013 and has issued more than 70,000 loans to date, totaling nearly £200 million. The full authorisation covers all of AvantCredit’s credit and lending operations and includes permissions for credit broking, debt collection…
Read moreMore than 1 million incidents of financial fraud occurred in the first six months of 2016, according to official figures released by Financial Fraud Action UK (FFA UK). Representing a 53 per cent increase compared to the same period last year, this means an incident happened in the UK every 15 seconds between January and June…
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Arrow Global Group PLC (“Arrow Global” or the “Group”) has agreed terms to take ownership of an additional specialist servicing capability and enter into a five-year servicing agreement in the Netherlands. As part of the investment, it will also co-invest in a secured loan portfolio with a face value of circa €1.7 billion (circa 9,300…
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Over £80 million has been repaid to creditors in the past year, according to the Annual Report and Accounts published by Accountant in Bankruptcy (AiB). The Scottish Government Agency also recovered all of its costs through fees and income during the year, ensuring its work had no impact on the public purse during 2015-16. Despite…
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