Credit, Collections & Insolvency News
Steve Humm has been appointed new Chief Operating Officer of Callcredit Information Group.
Read moreThe latest results Insolvency statistics from The Insolvency Service for Quarter 2 (April to June 2016) reveal that Personal Insolvency numbers have gone up. The main findings of the report were: Total individual insolvencies increased for the fourth consecutive quarter, driven primarily by an increase in individual voluntary arrangements Debt relief orders also increased, because of…
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Irish Social Protection Minister Leo Varadkar has announced a new scheme to allow credit unions provide small affordable loans. A pilot scheme in 30 credit unions saw 1,300 people accessing the loans, the average amount of which was under €500. A further 50 credit unions have already expressed interest in joining the scheme Up to 400,000 people are estimated…
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FinecoBank is set to enter the UK in this fourth quarter of the year. The bank is a subsidiary of UniCredit Group
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https://www.theguardian.com/business/2016/jul/29/rescue-package-in-place-as-europes-oldest-bank-fails-stress-tests
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The Financial Conduct Authority (FCA) has published the the reports of it’s credit card market study. The main suggestions of the study were as follows: timely prompts before promotional periods end timely information to prompt consumers to take into account how much they are borrowing and avoid over limit charges, and giving consumers the ability to…
Read moreThe Financial Conduct Authority (FCA) has outlined plans to improve the authorisation process for consumer credit firms. Figures shared by the FCA indicate they have closed 87% of applications with 99.6% within the statutory deadline. The FCA have issued the following commitments to firms applying for authorisation: The FCA will tell you as soon as your application…
Read moreGovernment figures reveal that tens of millions of pounds in unpaid council tax and business rates is owed to councils across the Black Country and Staffordshire. The figures owed are as follows: Walsall £20.3 million Sandwell £23.3 million Wolverhampton £14.7 million Dudley £8.7 million Cannock £6 million Stafford £4.4 million
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MasterCard Incorporated has announced that is going to acquire VocaLink Holdings Limited for about £700 million (approximately US$920 million).
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Freedom Finance has hired Jeff Poole as their new Managing Director of Consumer Finance. Zoe Cuthbertson has also joined the team as Freedom’s new Head of Marketing.
Read moreA report by charity Stepchange has found that bailiffs, government departments and bailiffs are among the most unfair when dealing with people in problem debt. The report titled Creditor and debt collector conduct: What’s making debt problems worse? also found that some creditors are failing to take vulnerabilities such as depression and other ongoing mental health conditions into…
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TSB’s new brand for the loan portfolio is Whistletree. The brand name has been given to Northern Rock’s former loans and mortgages portfolio which TSB bought from Cerberus Capital Management last year. The loans were previously managed by UK Asset Resolution (UKAR).
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The Financial Conduct Authority (FCA) published a Decision Notice issued to Andrew Barry Hart, Director of Wage Payment and Payday Loans Limited (WPPL). The FCA has decided to prohibit Mr Hart from performing any role in regulated financial services and has decided to cancel WPPL’s interim permission. WPPL is a consumer credit firm that provides…
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