Credit, Collections & Insolvency News
Just Mortgages has announced that it has appointed its first female Financial Services Director as it continues its expansion and diversity drive. Kerry-Ann Davies has been in financial services for 16 years having spent 13 years at NatWest where she managed a team of mortgage advisers and helped them to exceed compliance and productivity performance…
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A new report has highlighted the gap in responsible lending, highlighting that affordable credit providers make just £250 million of loans, while over the same period, high-cost short-term credit providers lend £3 billion – more than ten times as much. The report titled ‘Transforming affordable credit in the UK’ identifies affordable lenders who operate with…
Read moreTwo-in-five (40%) UK employees say they are living payday-to-payday and have no emergency savings, and nearly a third (29%) have financial problems that are negatively affecting their lives, according to a study of more than 4,000 UK employees by Willis Towers Watson. Women were a third more likely than men to be financially stressed (48%…
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More than three out of ten consumers (34%) say they would be most likely to take on extra debt if they were faced with a sudden gap in their finances, according to new research from R3, the insolvency trade body. Thirteen percent of over 2,000 people surveyed by Savanta ComRes for R3’s latest Personal Debt…
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Complaints about high-cost short term loans have leapt by up to 250% in a year, according to the latest figures from the Financial Ombudsman Service (FOS). FOS says complaints about high-cost loans often relate to affordability. Others involve claims that a firm acted unreasonably or unfairly when someone’s financial situation changed. FOS also says it…
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LendingMetrics has announced a partnership with finance provider TFS Group. TFS, which specialises in ‘guarantor’ unsecured credit and lending to those unable to access high-street banks, is now using LendingMetrics’ award-winning automated underwriting platform Auto Decision Platform (ADP), together with its LMX and OpenBankVision products. Having used credit reference data, TFS Loans wanted to use…
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New Money management app HyperJar commissioned a survey of 500 UK adults this week (20th January), which asked questions about current attitudes to money, debt and loans. The findings showed that just 11 per cent agree with the statement that ‘the UK has a healthy relationship with personal finances’. 54 per cent believe the government, business…
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Analysis from global consulting partnership Kearney has found a growing appetite for point of sale (PoS) credit finance – otherwise known as ‘buy now, pay later’ – among younger UK consumers, with over 60% (67%) of Millennials now using this service. While 42% of Millennials have used a ‘buy now, pay later’ service more than…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in November 2019 by 2% compared with the same month in 2018, and held steady in the eleven months to November 2019. Credit card and personal loan new business together grew in November 2019 by 2% compared with…
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Online short term loan lender, Uncle Buck Finance has announced that it will implement TriLine’s fully integrated GRC & SMCR software solution. Following evaluation of several solution vendors, Uncle Buck Finance LLP selected TriLine GRC to provide a fully integrated GRC and SMCR solution to support the business. The TriLine GRC solution will provide Uncle…
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Alternative specialist guarantor lender, Amigo has launched a strategic business review and opened itself to offers as its group owner signalled that it wants to sell on his majority stake in the company. The group owner Richmond Group is keen to exit guarantor loan firm. Richmond Group, which owns a 60.6% stake in the business, has…
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Hitachi Capital has appointed Kim Brien as Chief Information Officer (CIO) to drive forward Group IT and digital operational development at the leading financial services provider. Brien, who brings over 20 years’ experience in Information Technology to the role, has joined from global research and advisory company Gartner, having previously held senior positions at HML,…
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Provident Financial says its credit card business, Vanquis Bank, performed “modestly above expectations” in the fourth quarter, adding that it expects to report full-year results in line with market expectations. The company also said that its consumer credit division also had delivered results in line with its plans. Consistent with the group’s strategy set out…
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