Credit, Collections & Insolvency News
Motormile Finance (MMF) has achieved full authorisation by the Financial Conduct Authority (FCA). Denise Crossley Chief Executive Officer of Motormile Finance UK, said: “I am very proud to be able to announce that we have been authorised by the FCA. We have worked extremely hard to get to this point and all credit has to…
Read more
Cabot Credit Management (CCM)) has announced its financial results for the past 6 months (period ending June 2016. The statement said that Debt purchase collections increased 24% from £141.6million to £175.9 million compared with the same period in 2015. 120-month Estimated Remaining Collections increased to £2.07 billion from £1.92 billion for the same period in 2015 and…
Read moreThe UK Cards Association has released figures showing that spending on contactless cards has grown in the first half of 2016,and has already outstripped contactless spending for the whole of 2015. £9.27 billion was spent using contactless methods between January and June of this year, this is more than the total 2015 contactless spend of…
Read more
IGF has appointed Richard Spielbichler as ABL Director for the North West whilst Jeff Greenfield joins as ABL Director for North London and the Home Counties.
Read moreTech Mahindra’s acquisition of Target Group has been formally approved by the Financial Conduct Authority (FCA). Ian Larkin and Bill Alley, co-group Chief Executive Officers stated: “We would like to thank Pollen Street Capital for its four years of support and assistance in moving the business forward. Our focus now will be on accelerating the next…
Read more
A report by TUC and Unison suggests that about 1.6 million UK households are living in extreme debt. The report says official figures underestimate the intense burden of repayment on many families and individuals. The Britain in the Red report says households are finding it harder than ever to cope as wages have fallen. Total unsecured…
Read more
http://www.cityam.com/248074/small-businesses-lost-6bn-last-year-not-chasing-bad-debts
Read more
Nick Rossister has been appointed Deputy Chief Executive at the Registry Trust.
Read moreA R3 report has found that at least one fifth of UK corporate insolvencies in the past year were caused by late payment or the insolvency of another company. The survey of the insolvency profession reveals that late payment for goods or services was a primary or major cause of 23% of insolvencies in the last…
Read moreA growing number of non-performing loan (NPL) portfolio transactions are being concluded in Southeast Europe, with Bulgaria, Greece, Serbia and Slovenia all expected to see more sales in the near future. In Slovenia, the country’s largest bank Nova Ljubljanska Bank (NLB) is selling off €800million worth of NPLs in three tranches, as it cleans its…
Read morehttps://www.theguardian.com/money/2016/aug/23/aa-mortgages-fixed-rate-breakdown-cover
Read more
http://news.sky.com/story/wonga-shake-up-goes-on-as-jordan-takes-top-uk-job-10548010
Read moreMortgages4Life has received full regulatory approval from the Financial Conduct Authority (FCA) to launch a range of products aimed at borrowers aged 55 and over, with the aim of improving choice in the later-life market. Chief Executive Simon Little said: “We are assembling a strong and credible team who understand the broker market and what their customers…
Read more