Credit, Collections & Insolvency News
‘Managing debt is consumers’ is a top priority when it comes to credit cards a new report from MoneySuperMarket today reveals. The report analysed two million inquiries from its Smart Search eligibility tool to reveal what Brits look for most when searching for a credit card. More than 100 credit cards were grouped into four…
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In response to the FCA credit card market study consultation paper issued by the Financial Conduct Authority (FCA) Richard Koch, Head of Policy at The UK Cards Association, said: “We welcome the FCA’s considered proposals and support their view that the overall package is robust, and that the combined effect will address the concerns it…
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More than three million people have been frozen out of credit in the past 12 months, despite mainstream lenders promising to increase access, according to new research. Almost one in five people who applied for credit in the last 12 months – either a credit card, personal loan or mortgage – had their applications refused,…
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The Financial Conduct Authority (FCA) has proposed new rules to help customers who are in persistent credit card debt. This follows the FCA’s study of the UK credit card market, which found significant concerns about the scale extent and nature of problem credit card debt. Under the FCA’s definition, credit card customers are in persistent…
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Commenting on figures published by the ONS today (Friday), which shows that unsecured borrowing is at its highest level (as a share of household income) in 8 years, TUC General Secretary Frances O’Grady said: “Today’s figures should set alarm bells ringing. The last thing our economy needs right now is another consumer debt crisis. But…
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Financial fraud losses across payment cards, remote banking and cheques totalled £768.8 million in 2016, an increase of 2 per cent on the previous year, figures from Financial Fraud Action UK show. The new data shows banks and card companies prevented £1.38 billion of fraud last year, equivalent to £6.40 in every £10 of attempted…
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Quint Group has appointed Nicola Richardson as it’s new CRM Manager to help devise and drive the CRM strategy for the brand and to continue the site’s growth. Richardson brings ten years of CRM experience into her new role, having previously worked at price comparison site heavyweight moneysupermarket.com where she was involved in the delivery and optimisation…
Read moreMorses Club has announced the launch of Dot Dot Loans, its first online installment loans product. The launch follows the purchase of Shelby Finance earlier in the year The launch of this new online instalment product, Dot Dot Loans, is the next step in the Company’s strategy of developing digital products to complement its home…
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Consumer expectations about house prices have bounced back to pre-EU Referendum levels after a period when the immediate ramifications of the vote were unclear according to data from the Building Societies Association Property Tracker survey. Almost half of consumers (49%) expect house prices to rise over the next 12 months. Just 10% expect them to…
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The share of British adults concerned about their future financial health has been slowly but steadily increasing since June 2016, according to a new survey of over 2,000 British adults by insolvency and restructuring trade body R3, and ComRes. Almost 1 in 5 (19%) British adults think their personal financial situation will worsen over the next…
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The proportion of first-time buyers relying on inherited wealth or loans from the ‘bank of mum and dad’ has reached a historic high and the trend looks set to continue, new research by the Social Mobility Commission has revealed. The Commission warns that the increasing trend will have damaging consequences for social mobility as young people on…
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People’s confidence in their own finances grew stronger in February, according to the latest Lloyds Bank Spending Power Report. As the UK prepares to trigger Article 50, Lloyds Bank’s regular consumer survey – conducted in conjunction with Ipsos MORI – found that positivity towards personal finances increased by 5pp to 68% last month. That’s marginally…
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The number of home repossession cases going through the Scottish courts has fallen by more than 40% in a year, according to new figures published today. There were 1,874 repossession court cases initiated in 2015-16, down 43% on the previous year and 82% fewer than in 2008-09. The Civil Justice Statistics show 77,721 civil law…
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