Credit, Collections & Insolvency News
Rimilia has announced strong end of year results for it’s financial year ending 31st July. The company achieved overall year on year sales increase by over 40%. The year also saw a 30% increase in staff members across all departments and the launch of a fully integrated Accounts Receivable (AR) solution. Managing Director Chris McGibbon said that the…
Read moreOver £80 million has been repaid to creditors in the past year, according to the Annual Report and Accounts published by Accountant in Bankruptcy (AiB). The Scottish Government Agency also recovered all of its costs through fees and income during the year, ensuring its work had no impact on the public purse during 2015-16. Despite…
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Payday firm, CFO Lending, has entered into an agreement with the Financial Conduct Authority (FCA) to provide over £34 million of redress to more than 97,000 customers for unfair practices. The redress consists of £31.9 million written-off customers’ outstanding balances and £2.9 million in cash payments to customers. A number of serious failings took place which…
Read moreThe majority (86%) of UK Chief Financial Officers (CFOs) are driven to reach the top role of Chief Executive Officer (CEO) in their current organisation, reveals new research from leading recruitment agency Robert Half UK. The toughest competition for the hot seat comes from Marketing Directors with 23% of CFOs perceiving them as the greatest threat.…
Read morehttp://news.sky.com/story/water-ofwat-examines-potential-for-competition-in-the-market-10584561
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The Money Advice Trust has called for a ‘whole-society’ approach to tackling financial exclusion with a stronger leadership role from Government, in evidence to the House of Lords Financial Exclusion Committee. The Committee, chaired by Baroness Tyler of Enfield, is examining financial exclusion and access to mainstream financial services. The charity has pointed to fundamental issues…
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PayPlan has announced that it has received full authorisation from the Financial Conduct Authority (FCA) Rachel Duffey, CEO of PayPlan said “Today’s news confirms our status as a recognised leader in the debt advice field. The staff have worked very hard in creating a culture where the client always comes first and the FCA authorisation is a…
Read moreMetro Bank has announced the appointment of Kevin Craven as Head of Invoice Finance. Craven joins the bank from Bibby Financial Services. Richard Saulet, Director of Invoice and Asset Finance at Metro Bank said: “I’m delighted to welcome Kevin to the growing team. Kevin brings with him extensive experience and a real desire to do the…
Read moreOfgem has published proposals to cap charges for installing prepayment meters under warrant. An option in the consultation includes placing a firm limit on charges of £100 or £150. The proposals also include plans to ban prepayment meters warrant installation charges for the most vulnerable customers. When customers fall in debt, one option is for…
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Peer-to-peer lender Ratesetter has now delivered more than £100million in car financing. Nick Elkan,from RateSetter Motor Finance said “These are exciting times and £100million is a fantastic milestone for us to reach. It proves that we are providing finance that car buyers need, competitively and efficiently. Obtaining finance via a peer-to-peer lender is no longer niche, but…
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Ultimate Finance has appoint Andrew Casey to it’s asset finance as Regional Director. Andy Ribbins Managing Director of Ultimate Asset Finance said “These are really exciting times for Ultimate and Andrew is a great addition to help us build our presence in the East of England. He joins us with an excellent reputation in the area, amongst…
Read moreNew measures to support the Prompt Payment Code (PPC) and drive a culture of better payment practice have been confirmed in a letter to PPC signatories from Margot James, minister for Small Business and Philip King, chief executive of the Chartered Institute of Credit Management (CICM). The letter highlights the significant success of the code…
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The National Association of Commercial Finance Brokers (NACFB) has launched it’s annual report. Despite the backdrop of political and economic uncertainty surrounding the EU Referendum, small business lending hit an all-time high over the past 12 months. Lending has increased by almost 30% (29.8%) to £20.7billion. The figures are based on business written by NACFB brokers between July…
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