Credit, Collections & Insolvency News
New Money and Mental Health research has shown that consumers experiencing common symptoms of mental health problems — such as impaired decision-making and reduced concentration — can make it much harder for people to identify and avoid online scams. As a result, people with mental health problems are significantly more likely to have lost money…
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Latest figures from UK Finance have that there are 127,000 mortgage holidays (payment deferrals) in place in mid-November, a significant reduction in customers seeking this form of support from June’s peak of 1.8 million The figures indicate that the number of payment deferrals across mortgages and consumer credit reduced in recent weeks as more customers returned to making repayments or sought alternative…
Read moreOfgem has appointed Scottish Power to take on supplying Yorkshire Energy’s (also known as Daisy Energy) 74,000 domestic customers and a small number of non-domestic customers. Scottish Power is offering customers a competitive tariff. Outstanding credit balances, including money owed to both existing and former domestic customers of Yorkshire Energy, will also be honoured. Scottish…
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Yorkshire Energy Limited (also known as Daisy Energy) a gas and electricity supplier with around 74,000 domestic customers, and a small number of non-domestic customers, is ceasing to trade. Under Ofgem’s safety net, the energy supply of Yorkshire Energy’s customers will continue and outstanding credit balances of domestic customers will be protected. Ofgem will choose…
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Credit Connect’s latest episode of Connected News saw the theme of customer engagement within collections discussed at an event hosted in association with Aspect. Collections professionals Gary Moffat Customer Debt Operations Manager at Centrica and Martin Kirby Head of Credit Risk and Collections at Business Stream were joined by Martin Alderson from Aspect and discussed…
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The Money Advice Trust, the charity that runs National Debtline and Business Debtline, has today welcomed the launch of Energy UK’s Vulnerability Commitment. Suppliers serving nearly three quarters of UK households have signed-up to new industry standards designed to improve support for customers in vulnerable circumstances. These include: Training frontline staff to better identify and…
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The Financial Conduct Authority (FCA) has reminded firms to be ready for the end of the transition period in one month’s time. When the transition period ends at 11pm on 31st December, firms will need to be prepared for a number of changes to the regulatory environment in which they operate. EU laws will no…
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Water companies should do more to stamp out the root causes of customers’ frustration and improve their overall service according to a joint report published by the Consumer Council for Water (CCW) and Ofwat. CCW and Ofwat are working together to improve how customers are treated by their water companies and ensure their best interests…
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Millions of households are set to ration their energy usage this winter out of worry that they cannot afford their energy bills. According to new research by comparethemarket.com, nearly a third (31%) will ration their heating during the coming months to combat rising household bills as a result of the second national coronavirus lockdown. Rising…
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Credit Connect has announced its annual Credit & Collections Technology company power list for 2020. The section edition of the power list is a round-up of the most prominent innovating companies within credit and collections technology. Credit Connect has identified the top 20 ‘Premier’ innovators highlighting the achievements and successes of the top-performing companies.The list…
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FinTech startup Zilch has become one of the first Buy Now Pay Later (BNPL) to secure consumer lending authorisation from the Financial Conduct Authority (FCA). The company says that it aims to redefines the BNPL market by placing consumer financial wellness at the heart of its operations and recently announced an Open Banking data partnership…
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Energy regulator, Ofgem is consulting on proposals to amend the default tariff price cap’s ‘Adjustment Allowance’ from 1st April 2021 to account for the impact of COVID-19 on the efficient costs of supplying domestic default tariff customers. The consultation is open until 21st December 2020. Ofgem will publish a final decision early in February 2021…
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The winners of the 2020 Credit & Collection Technology Awards have been announced following a live interactive virtual awards broadcast yesterday (Thursday 19th November). The awards are the flagship event for innovational technological professionals working in credit and collections and the fourth annual event honoured the UK’s technological innovators, celebrating outstanding achievement across nineteen hotly…
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