Credit, Collections & Insolvency News
Morses Club the UK’s second largest home collected credit lender, has announced the acquisition of the business and assets of Hays Credit, a home collected credit lender. Hays is a family-run business which has been operating since 1957, providing loans to approximately 2,700 customers across the North East of England. Hays has outstanding balances of approximately…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in December 2018 by 4% compared with the same month in 2017, and by 5% in Q4 2018 as a whole. Credit card and personal loan new business together grew in December by 5% compared with the same…
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New figures released by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer car finance market grew 1% by volume and 4% by value in December 2018, compared with the same month in 2017. The POS consumer new car finance market reported new business volumes in December…
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New figures released by the Finance & Leasing Association (FLA) show that the second charge mortgage market reports volumes up by 13% in December. Commenting on the December 2018 new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “December…
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LendingMetrics has announced that it has agreed on an ADP platform partnership with Evolution Money. By using Lending Metrics ADP, Evolution will be able to make credit decisions within milliseconds and build rules, scorecards and matrices using a variety of data sources. LendingMetrics’ Director David Wylie said “ADP forms an important part of Evolution’s growth…
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Rent to own specialist Brighthouse has announced that it is shutting 30 of its shops cutting 350 jobs amid tough conditions on the High Street. Brighthouse, which employs about 3,000 people, said it had informed staff. A Brighthouse spokesman said: “We are working to redeploy as many people as possible into alternative roles but redundancies…
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People claiming Universal Credit are still struggling to pay for the roof over their heads, despite the wait for their first payment being reduced from six weeks to five, according to new Citizens Advice data. One in two people the charity helped were in rent arrears or fell behind on their mortgage payments, the same…
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AccountScore, and The Insolvency Panel has announced the launch of the first ever Open Banking solution for the debt advice and debt solutions sector. The service, going live in February, will use AccountScore’s Open Banking platform consents.online to instantly auto-populate consumers’ income and expenditure information, direct from their current account, in complete compliance with the Standard…
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The total number of judgments in 2018 against Irish consumers is at a record low, with consumer judgments down eight percent. However, the value of consumer judgments rose by 22 percent in the same year. There were 1,985 judgments registered against consumers in 2018, eight percent fewer than the previous year and a record low.…
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The Financial Ombudsman Service (FOS) has published its latest quarterly financial products and services complaints data. The statistics include the number of enquiries and new complaints received, the number of complaints referred to an ombudsman’s final decision, and the proportion of complaints resolved in consumers’ favour. The number of complaints about high-cost short term credit (payday…
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The Financial Ombudsman Service (FOS) has released its latest report which shows that it has dealt with around 3,300 inquiries about debt collection and took on over 1,000 new complaints for investigation in 2018. The complaints cover credit and consumer loans, such as mortgages, credit cards and personal or business loans. They don’t include household debts…
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The Irish Central Bank has published the penultimate update on the Tracker Mortgage Examination, showing that, at end-2018, lenders had paid out €647 million to customers affected by their failings. This is an increase of €67 million since end-August. The update also showed that an additional 1,400 affected customers have been included by lenders for…
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Probate Searches & Services Ltd (PSaS) has selected TransUnion (formerly Callcredit) to provide account information checks for its new credit report service to help probate professionals settle estates more quickly and accurately. PSaS is a new business servicing the legal sector with consumer data solutions to help better manage estate administration of probate cases and…
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