Consumer Collections

Borrowing risks to households following Brexit

The Bank of England Financial Policy Committee report published its Financial Stability report, which identified “the high level of UK household indebtedness.”   

Councils too quick to send in bailiffs, says Citizens Advice

The Insolvency Service plans fee rises for creditors

Fee increases set by the Insolvency Service for corporate and personal insolvencies.

Civil Servants Credit Union to launch

The Department for Work and Pensions (DWP) has launched a Credit Union for civil servants. The DWP has around 85,000 employees. The DWP has set up the scheme with 3 Credit Unions – Commsave, Hull & East Yorkshire and Voyager Alliance.

Freedom Finance new appointments

Freedom Finance appoints Michael Davidson and Neil Farrar-Smith to their management team.  Davidson joins as Business Development Director. Farrar-Smith has been appointed as Director of Business Finance. Earlier this year Brian Brodie joined Freedom Finance as the Group’s Chief Executive.

Identity Fraud rises 52% in 2015

Cifas reveals that criminals target fraud victims aged under 30. The figure is up by 52% in 2015. The fraud figure for 2015 showed that 23,959 people aged 30 and under were victims of identity fraud. This is up from 15,766 in 2014, and is more than double the 11,000 victims in 2010.  

Atom Bank and Phoebus Software agree deal

Atom Bank agrees 5-year deal Phoebus Software. Phoebus will service across Atom’s secured business lending and accounts propositions for residential portfolios.

One in ten homeowners aged over 55 still have interest-only mortgages

Research from over-60s property experts Homewise suggests that up to one in ten over-55s homeowners across the UK are still paying interest-only mortgages therefore facing the prospect of clearing their debt when the deal runs out. 

1.3 million people helped by the Money Advice Trust in 2015

  The Money Advice Trust t helped 1.3 million people to tackle their debts and manage their money last year.

Court Enforcement Services acquires Elliott Davies

Shawbrook expects £9 million impairment charge

Irregularities at Shawbrook Group expected in the second quarter of 2016

Uncertainty for businesses and UK insolvency regime following Brexit

“Leaving the EU will have a major impact on the way corporate insolvency works in the UK.   “Domestic insolvency legislation itself is likely to be unaffected, the insolvency profession is involved in a lot of cross-border work in Europe. One key change is that it could become much harder to retrieve assets on behalf…

Hoist acquires Spanish portfolio

Portfolio comprises of non-performing banking claims originated by four regional banks.