Credit, Collections & Insolvency News
The government has confirmed that the UK’s national programme which links smart meters to energy suppliers will now not be ready until the autumn. The government wants every home and business to be offered a smart meter by the end of 2020. That requires 53 million meters to be fitted in over 30 million premises over the…
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LeadAffinity.com has launched a new strategic partnership with Cashfloat.co.uk, a trading style of Western Circle Ltd (WCL). The partnership agreement has a mutual aim of ensuring its customers have access to Cashfloat.co.uk as a lender and any customers that are not eligible for a Cashfloat.co.uk loan have access to the lending panel of LeadAffinity.com Lead Affinity, a trading…
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Accountancy firm Moore Stephens has appointed Lee Causer as partner working in its restructuring and insolvency team.
Read moreLondoners are more likely to be struggling with debt than the rest of the UK costing the city £1.4 billion a year according to a new report from StepChange Debt Charity. The report shows that the charity’s clients living in the capital owe more on credit cards and loans, have higher arrears on bills meaning that they…
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Peer to peer lender ThinCats has launched a new two-tiered grading system for all loans on the platform’s primary market. The new system will allow investors to quickly determine two key factors that determine the quality of a loan: credit quality and security quality. Credit quality, the ability of a company to service its loan obligations, will…
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A data survey by the Association of Short Lenders (ASTL) has found that Bridging Loan applications have increased by 61% to £3.5 billion in the quarter ended 30 June 2016. The value of loans written increased by 6% quarter-on-quarter, while the total value of members’ loan books increased by 39% over Q1 this year. ASTL members wrote £2.85bn…
Read moreEnergy Provider E.on will refund it’s customers after it spotted a flaw in the way some meters are being read. Around 600 of its customers – both homes and businesses – are affected. Energy regulator Ofgem commented “Ofgem is aware that a very small number of gas customers are being incorrectly charged for their energy use and…
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Mondo has become the latest company to gain a banking licence from the Financial Conduct Authority (FCA). The bank will be available as a mobile phone app, will focus on digital current account services. Mondo was founded by Tom Blomfield, who has raised £1 million from a crowdfunding platform. The bank has also had about £7 million support…
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Lowell GFKL Group has announced that it has acquired Tesch Inkasso, a German third party collections company. Lowell GFKL Group, backed by the Permira Funds and Ontario Teachers’ Pension Plan, has entered into an agreement to acquire Tesch Inkasso Group from Avedon Capital Partners and the other existing shareholders. Closing is subject to certain regulatory…
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Richard Whitehouse has been appointed Sales Director at Platform Black. Commenting on his new appointment, Richard Whitehouse said “The fintech market is exploding and this opportunity to join a business in the sector, with such strong lending principles and access to large funding pools, was impossible to ignore. Platform Black’s track record and investment from our parent,…
Read moreLowell GFKL Group has announced its second quarter results ending 30th June 2016. The results highlighted that Non Preforming Loan (NPL) portfolio acquisitions were up 27% to £247millions in the last 12 months and than an excess of £175 million of portfolio acquisitions have already closed and are contractually committed for 2016. Commenting on the results, Colin Storrar…
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Alex Hilton-Baird, Chief Executive Officer and founder of Hilton Baird took part in the Thames Marathon Bridge to Bridge 14km swim in support of Wessex Cancer Trust last weekend raising over £1,300. Hilton-Baird’s father was diagnosed with bowel cancer in 2013 – completed the 14km stretch of the River Thames between Henley and Marlow in four…
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Noble Systems has been announced as a winner at the 2016 Tech Culture Awards winner by TMCnet. The Award honours technology organisations who have developed a positive, productive and performance-driven culture and fostered a creative, collaborative workplace environment. To receive the award, Noble Systems demonstrated its commitment to growth through providing a truly distinct and upbeat environment.…
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