Credit, Collections & Insolvency News
The number and total value of judgments registered against Irish consumers saw a huge fall in the fourth quarter of 2020 compared to the same quarter last year, figures released by registrar Irish Judgments show. The number of judgments against consumers fell by 72 percent, from 618 to just 172. The total value fell by…
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Judgments against Irish businesses fell from 234 to 62, a drop of nearly three quarters (74%), figures released by registrar Irish Judgments show. The total value registered against businesses fell by 62 percent, from €3.4 million to just €1.3 million. The average value of business judgments rose by 41 percent from €14,525 to €20,536. Mick…
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Sales of non-performing loans (NPLs) hit a four-year low last year with €67.7bn sold, according to the Debtwire European NPLs FY20 Report. The Government supported disposals accounted for 60% of the total, the report found. The Cobid-19 crisis delayed portfolio sales as Europe went into lockdown, while agreements fell apart as the economic outlook deteriorated.…
Read moreIrish personal finance provider Permanent TSB has signed up to use Experian’s banking categorisation technology to improve its customer lending journeys. The solution produces high levels of accuracy, so Permanent TSB can treat customers fairly and deliver improved outcomes. The categorisation engine is an Irish-specific version and is the first in the market within the…
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With the UK now officially separated from the European Union, new research from Nucleus Commercial Finance has found that the UK’s SMEs are worried about their future and the negative impact Brexit will bring to the economy. The research found that three in ten (30%) small to medium-sized businesses think Brexit will have a negative…
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As European economies struggle to cope with the effects of the second wave of the coronavirus, Intrum’s Financial Wellbeing Barometer highlights the disparities in financial wellbeing among consumers across the continent. While pre-existing household debt and financial instability have been aggravated by the pandemic in southern Europe, stimulus measures appear to have protected household incomes…
Read moreThe European Commission has today presented a strategy to prevent a future build-up of non-performing loans (NPLs) across the European Union, as a result of the pandemic crisis. The strategy aims to ensure that EU households and businesses continue to have access to the funding they need throughout the crisis. Banks have a crucial role…
Read moreNew data from Barclays released today reveals that there has been a 20 per cent surge in business scams in the past five months, with thousands of SMEs across the UK falling victim to highly sophisticated and targeted scam tactics. The bank is issuing a warning to businesses across the UK to remain vigilant as…
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Economic upheaval is putting a disproportionate strain on young adults and parents in the UK, according to the latest European Consumer Payment Report by Intrum The annual European-wide survey of more than 24,000 consumers found that 36% experienced an income drop as a result of the Covid-19 crisis. Though 10% said their income has since…
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The Financial Conduct Authority (FCA) has reminded firms to be ready for the end of the transition period in one month’s time. When the transition period ends at 11pm on 31st December, firms will need to be prepared for a number of changes to the regulatory environment in which they operate. EU laws will no…
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The repercussions of the Covid-19 pandemic on the global economy could have an impact on Business to Business (B2B) payment behaviour worldwide, and knowledge of country-specific practices and legislation regarding debt collections is necessary to increase recoveries and minimise write-offs. according to Atradius. The latest economic research by the company forecasts a 26% increase in…
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Customer communications, identification and graphics services specialist Paragon Group has announced the acquisition of French Groupe Bernard – specialist in Business Process Operations (BPO), effective 1st of October 2020. Groupe Bernard will be integrated into the Paragon Customer Communications (PCC) Division with a focus on Business Process Management and Loyalty Cards / Program Management. Groupe…
Read moreThe number and total value of judgments registered against Irish businesses saw a huge fall in the third quarter (Q3) of 2020 compared to the same quarter last year, new figures released by registrar Irish Judgments show. Judgments against Irish businesses fell from 192 to 78, a decrease of 59 percent. The total value registered…
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