Credit, Collections & Insolvency News
Wonga has admitted that it double-charged 7,000 customers for their loans on Friday. It says an internal system error resulted in extra payments being taken from bank accounts. Wonga has promised that extra costs and charges incurred will be refunded. The short-term lender said that the rogue payments were refunded later on Friday, but may not yet…
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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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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 moreHere is an overview of The Money Charity’s latest statistics for September 2016: Personal Debt in the UK People in the UK owed £1.496 trillion at the end of July 2016. This is up from £1.444 trillion at the end of July 2015 – an extra £1,028.50 per UK adult. Per adult in the UK that’s…
Read moreNew research from Echo Managed Services has found that one in four people want businesses to contact them via digital channels in order to settle their debts. 25% of the 1,500 consumers questioned said digital means, such as SMS or email (particularly when these are linked to an online payment portal) would likely lead to payment of a debt. 40%…
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New research from Equifax has found that 32% of people in the UK have had to borrow money from friends or family. The online survey, conducted by YouGov, found 31% of these loans were to pay for household essentials such as food, 23% to pay for car repairs and 18% to pay for utility bills…
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Callcredit Information Group has appointed Peter Simpson as Head of Partnerships and Steve Wishart as Head of Lending. Commenting on the appointments Eamonn Tierney, managing director, Credit Solutions, Callcredit Information Group said: “I am delighted to welcome Peter and Steve into their new roles which will play a part in the next chapter of our Credit…
Read moreCitizen Advice research has discovered that some payday lenders are still failing to carry out basic checks to make sure borrowers can afford to pay back their loans. Over a quarter of payday loan borrowers (27%) who responded to a survey by Citizens Advice said they were not, or could not remember being asked any questions…
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A report by TUC and Unison suggests that about 1.6 million UK households are living in extreme debt. The report says official figures underestimate the intense burden of repayment on many families and individuals. The Britain in the Red report says households are finding it harder than ever to cope as wages have fallen. Total unsecured…
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Nick Rossister has been appointed Deputy Chief Executive at the Registry Trust.
Read moreLondoners are more likely to be struggling with debt than the rest of the UK costing the city £1.4 billion a year according to a new report from StepChange Debt Charity. The report shows that the charity’s clients living in the capital owe more on credit cards and loans, have higher arrears on bills meaning that they…
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