Credit, Collections & Insolvency News
Intelligent Environments has released new research suggesting that half of consumers are left scratching their heads thanks to the complex processes they have to go through to apply for vehicle financing. The research identified that: 50 per cent of drivers think vehicle finance agreements are complicated and difficult to understand 29 per cent believe it is…
Read more
The Finance & Leasing Association (FLA) and The UK Cards Association are today launching a new publication – Vulnerability; a guide for debt collection – that will help their members to better identify and support customers in vulnerable circumstances. Both trade associations worked in partnership with the University of Bristol’s Personal Finance Research Centre (PFRC)…
Read more
Latest figures released today by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer new car finance market grew 9% by value and 3% by volume in January, compared with the same month in 2016. The percentage of private new car sales financed by FLA members through…
Read more
Online research from Equifax, has revealed that 50% of consumers don’t want to spend more than 20 minutes completing the process. The survey, conducted by YouGov, also found that after submitting an application for a financial product online, many consumers expect an immediate decision on whether they have been approved for short term loans (34%),…
Read more
The latest released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market grew 12% by value and 8% by volume in 2016. New business was up 3% by value and down 3% by volume in December, compared with the same month in 2015.…
Read more
The British Bankers’ Association (BBA) has releases it’s latest figures indicating a growth in consumer borrowing during December, but there are signs that demand may soften in 2017 as consumers and businesses anticipate higher interest rates. Gross mortgage borrowing totalled £12.6bn, up 3.6% from December 2015; while net mortgage borrowing grew by 2.5% compared to December…
Read more
New figures released today by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer new car finance market grew 13% by value and 7% by volume in November, compared with the same month in 2015. The percentage of private new car sales financed by FLA members through…
Read more
New figures released today by the Finance & Leasing Association (FLA) show growth of 9% in consumer finance new business in November, compared with the same month in 2015. Credit card and personal loan new business together grew by 10% compared with November 2015, while retail store and online credit new business increased by 3%…
Read more
The Finance & Leasing Association (FLA), working alongside employers in a Trailblazer group, has won Government approval to develop a Motor Finance Specialist apprenticeship standard for the motor finance industry. We will now begin working with members, brokers and dealers to devise a training standard which will highlight the skills and knowledge that employers in…
Read more
New analysis published by the TUC shows that household debt rose sharply over 2016, with unsecured debt (debt other than mortgages) reaching new highs. The TUC says weak wage growth has left more families reliant on borrowing to support their living standards. The analysis finds that: Unsecured debt per household rose to £12,887 in the…
Read more
The Society of Motor Manufacturers (SMMT) said new car sales fell 1.1% in December against the same month a year ago. However, the UK new car market achieved another record year in 2016, with annual registrations climbing for the fifth year in a row to almost 2.7 million, according to figures published today by SMMT. The market…
Read more
Target Group has announced the signing of a new two year contract with the DVLA using their payments collection system. In 2014, Target and the DVLA introduced a newly automated system, which provided consumers with an alternative method of paying their vehicle tax. The payments solution was delivered in 18 weeks and supported the DVLA…
Read more
Anglia UK has achieved a industry-leading accreditation for the safety and security of its data handling. The Spalding-based vehicle credit management specialist has become the first in its industry to achieve ISO 27001 in recognition of its stringent approach to confidential data handling and IT management. ISO is an independent benchmarking company that gives world-class specifications…
Read more