Credit, collections & insolvency news
Almost two-thirds (63%) of Irish SMEs are finding it difficult to access credit, creating a barrier to economic recovery according to figures from the latest quarterly Linked Finance SME Confidence Index, based on research conducted by Behaviours & Attitudes. Even with increased support for Irish SME businesses throughout the pandemic via payment breaks and loan…
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The number of judgments registered against Irish consumers saw a small fall in 2021 compared to 2020, figures released by registrar Irish Judgments show. The number of judgments registered against Irish consumers in 2021 was 912, a fall of two percent on the 930 seen in 2020. However, the total value of consumer judgments registered…
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One in four consumers expects to take on additional debt at Christmas, according to Intrum’s annual consumer report conducted in 24 European countries. Although households with families are more likely to take on debt to pay for food and presents than the average consumer, the age group being most likely to do so is Generation…
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The winners of the 2021 Credit & Collection Technology Awards have been announced following a live in-person event yesterday (Thursday 4th November) at the Midland Hotel in Manchester. The awards are the flagship event for innovational technological professionals working in credit and collections and the fifth annual event honoured the UK’s technological innovators, celebrating outstanding…
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The number and total value of judgments registered against Irish businesses rose significantly in the last quarter according to new analysis by The registrar Irish Judgments. The number of judgments registered was up by three quarters, from 78 in Q3 2020 to 137 in Q3 2021. The total value owed in Q3 2021 was €3.7…
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The UK is set for a significant rise in business failures as firms readjust to life without government Covid-19 pandemic support measures, according to trade credit insurance firm, Euler Hermes. The underwriter forecasts that, compared to pre-Covid levels, UK insolvencies could increase by a total of +32% by the end of 2022, with more than…
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Irish Regulator, the Central Bank has announced the appointment of Colm Kincaid as the new Director of Consumer Protection. Kincaid replaces Grainne McEvoy who will leave the Central Bank in January 2022 to take up an opportunity in the private sector. Announcing the appointment, Director General, Derville Rowland said “I am delighted to announce Colm…
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The number and total value of judgments registered against Irish consumers saw very large percentage rises in the second quarter of 2021 (Q2 2021) compared to the same quarter last year, figures released by registrar Irish Judgments show. The number of judgments registered against Irish consumers in Q2 2021 was 307, an increase of 358…
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A new report from Juniper Research has found that global contactless card transaction values will reach $2.5 trillion in 2021, from $1.7 trillion in 2020, with cards retaining the majority share of overall contactless transaction values at 79% in 2021. The pandemic has significantly accelerated an existing contactless card usage trend, and these value increases…
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NatWest’s Ulster Bank is preparing to sell €7.6 billion of loans and 25 branches to Irish bank Permanent TSB. Between 400 and 500 Ulster Bank employees will transfer over under the deal while NatWest will secure a 20% stake in PTSB as part payment. “In line with our strategy of a phased withdrawal from the…
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Ireland’s Central Bank is proposing to ban the practice of price walking following its Review of Differential Pricing in the Private Car and Home Insurance Markets. The Review examined how differential pricing is used in the private car and home insurance sectors and established its impact on consumers. Differential pricing is where customers with a…
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NatWest has announced that it is selling most of its Irish commercial lending business to Allied Irish Banks (AIB), which will take over about €4.2 billion in loans, €2.8 billion in undrawn facilities and about 280 transferred Ulster Bank employees. The exact size of the portfolio and amount payable will depend on movements in the…
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New research by Uswitch.com has revealed impersonation scams as collectively having had the highest financial impact from fraud in the UK. with £96.6 million lost to impersonation fraud of police or bank staff in 2020, alongside £53.7 million lost to other types of impersonation scams. Unlike impersonation scams, where collectively more than half (56%) of…
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