Credit, Collections & Insolvency News
PRA Group has announced its UK business has received full authorisation from the Financial Conduct Authority (FCA). Tiku Patel, Chief Executive Officer of PRA Group Europe said “The FCA approval process requires very high standards of conduct and customer treatment and we are delighted to have received full authorization. Delivering fair customer outcomes is at the…
Read moreCustomers who make a complaint are less satisfied with how their supplier handles it compared to two years ago, according to Ofgem’s biennial complaints survey. Ofgem commissions a survey every two years which compares how suppliers deal with their domestic and micro-business customers’ complaints. Since complainants were last surveyed in 2014, the total number of…
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A new report from Citizens Advice Wales “Fairness for all – Improving council tax debt collection in Wales” highlights the findings of research undertaken to better understand the recent increase in council tax arrears seen over the last few years. Council tax arrears is now the largest debt issue representing 13%t of all debt issues. Council…
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Callcredit has announced it’s new management team within the Group’s Marketing Solutions division. The new, seven-strong team sees specialists from across Callcredit’s Marketing Solutions division move into new roles and consists of Chris Prior who will head up the division’s retail, financial services and automotive teams; Ryan Kemp who heads the partnerships team; Gary Childs, head…
Read moreAvantCredit has announced that it is now fully authorised by the Financial Conduct Authority (FCA). AvantCredit have operated in the UK since October 2013 and has issued more than 70,000 loans to date, totaling nearly £200 million. The full authorisation covers all of AvantCredit’s credit and lending operations and includes permissions for credit broking, debt collection…
Read moreAberdein Considine has acquired Wallers Solicitors. The deal gives Aberdein Considine its first foothold in the substantial English and Welsh legal markets and enables the immediate expansion of its corporate conveyancing, litigation and debt & asset recovery services south of the border. The combined business, which will now trade under the Aberdein Considine brand, employs 380 staff…
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Moore Stephens LLP has published it’s annual company results and has announced revenues of £105.5million, representing 14% growth on the previous combined year’s figures and over £13million of new business. The firm, which is the largest member of the Moore Stephens UK network, merged with Chantrey Vellacott DFK LLP in May 2015. The strong organic growth,…
Read moreUnited Trust Bank has promoted Robert Owen to Managing Director. Owen was responsible for the specialised mortgages division. Jo Edwards has also joined United Trust Bank as Business Development Director – Mortgages and Bridging.
Read moreMore than 1 million incidents of financial fraud occurred in the first six months of 2016, according to official figures released by Financial Fraud Action UK (FFA UK). Representing a 53 per cent increase compared to the same period last year, this means an incident happened in the UK every 15 seconds between January and June…
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Arrow Global Group PLC (“Arrow Global” or the “Group”) has agreed terms to take ownership of an additional specialist servicing capability and enter into a five-year servicing agreement in the Netherlands. As part of the investment, it will also co-invest in a secured loan portfolio with a face value of circa €1.7 billion (circa 9,300…
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RateSetter has published its 2015-16 accounts, showing that it increased revenues from £12.6million to £18.5million over the year. The company made a pre-tax loss of £4.9million, compared to a pre-tax profit of £476k for the preceding year. The company’s results are in line with expectations set out at the start of the year and reflect…
Read moreAtradius N.V has announced its acquisition of 55% of the shares in Graydon Holding N.V. With this acquisition Atradius, which already owned a 45% stake in Graydon will become the sole shareholder. Graydon has offices in Netherlands, Belgium and the UK with business operations in credit management, risk and compliance, marketing information and debt collection. Graydon will continue…
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Aldermore has appointed Lesley Rolfe as the Head of Asset Finance Operations. Carl D’Ammassa, Group Managing Director, Business Finance at Aldermore, said: “Aldermore’s Business Finance division is continuing to grow at an impressive rate, giving us the opportunity to expand our team and improve our operations and processes to drive this growth even further and improve…
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