Credit, Collections & Insolvency News
Former V Loans Managing Director Marie Grundy has been appointed as Sales Director of West One Loans. Grundy brings a wealth of knowledge from 20 years in the mortgage sector. That experience spans both broking and lending, where most recently she spent over nine years with second charge master broker V Loans. Stephen Wasserman, Managing Director of…
Read moreNew figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 13% in November, compared with the same month in 2015. The plant and machinery finance and business equipment finance sectors reported new business up in November by 18% and 33% respectively,…
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The Scottish Government plans to use its new social security powers for the first time to increase the frequency of Universal Credit payments and offer to pay housing benefits direct to landlords. While Universal Credit itself remains reserved, ministers will use new powers to give claimants the option to be paid fortnightly instead of monthly.…
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Aldermore’s Business Finance division has announced the appointment of Stephen Farrelly as Head of Relationship Management in its Manchester office. In his new role, Stephen will be responsible for overseeing Invoice Finance client relationships in the North, as well as continuing to develop the Bank’s Asset Backed Lending proposition and capabilities. Farrelly reports into Ross McFarlane,…
Read moreIndependent Growth Finance (IGF) has announced the appointment of Mark Lindsay as Managing Director of its Invoice Finance division. Lindsay moves from his previous role as Managing Director at Bibby Trade and International Finance, where he spent more than five years leading a team of Trade Finance experts providing finance solutions to SMEs. Prior to…
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Specialist Home Credit Collector (HCC) lender Morses Club has announced the acquisition of Shelby Finance a provider of online instalment loans. Shelby Finance is fully authorised by the FCA to provide online instalment loans and will operate as a subsidiary of Morses Club. Morses Club state that the acquisition is an important strategic development as…
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Target Group has announced the purchase of the operating business of Commercial First. Commercial First are a provider of commercial and residential mortgage servicing, due diligence and property valuations for clients ranging from blue chip banks and fund managers to private equity and mortgage securitisations. Established in 2002 and based in Skipton, Commercial First provides…
Read moreIrish bank KBC has sold loans to credit-servicing and debt-collection firm Cabot Financial Ireland. The sale of the KBC portfolio is understood to involve more than 100 loans – most of which related to buy-to-let properties that have been sold – with money is still owned on the original mortgages. The sale comes weeks before…
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Bob Stefanowski is to be replaced as Dollar Financial Corporation Global (DFC) Chief Executive Officer. Bondholders in Dollar Financial Corporation Global (DFC) were informed late last week that Bob Stefanowski was stepping down as its chief executive, to be replaced by Glen Wakeman, a former GE Money executive in Latin America. The change at the…
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Creditfix has released new figures that show that personal debt is having a negative impact on the mental health of individuals affected by financial problems. In a UK-wide survey of people currently in an Individual Voluntary Arrangement or Protected Trust Deed (IVA/PTD) with Creditfix, 74 per cent of respondents said their personal debt situation had…
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New research from SunLife has found that people living alone are hit the hardest, both financially and emotionally. SunLife’s Cash Happy report (studied the day to day finances of 3,000 UK households, mapping income – and how it is used – against happiness) has found that while there is a strong link between happiness* and…
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New research* from Gocompare.com Money has found that, on average, people now manage over 30 accounts across all aspects of their lives, from online banking and shopping, to gym memberships and subscriptions for home entertainment. And almost a third of us are stressed out by trying to keep track of them all. The survey of…
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The Finance & Leasing Association (FLA), working alongside employers in a Trailblazer group, has won Government approval to develop a Motor Finance Specialist apprenticeship standard for the motor finance industry. We will now begin working with members, brokers and dealers to devise a training standard which will highlight the skills and knowledge that employers in…
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