Credit, Collections & Insolvency News
American Express has become a corporate partner to the Chartered Institute of Credit Management (CICM). American Express Business Payments Solutions supports its customers in improving cash collections. A spokesman for American Express said “Being able to connect with credit professionals through the CICM is an excellent way of highlighting the solutions that American Express can offer,…
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Appointment of Administrators Notices – September 2016 Administration notices have been issued and advertised in the London Gazette for the following companies: 247 TRANSPORTER LTD LSC 4CHILDREN (TRADING) LTD A-B-A-C-U-S FRANCHISING COMPANY LTD AAC MECHANICAL & ELECTRICAL LTD ACORN SHIPYARD LTD ALAN KIRKHAM LTD ALATAS ENGINEERING LTD ALBEMARLE SHOREHAM AIRPORT LTD AUTO FUEL FIX…
Read moreWinding Up Petitions (Companies) Notices – September 2016 Petitions have been issued and advertised in the London Gazette for the following companies: 13LAB EDITION LTD ABBEY ROSE INVESTMENTS LTD ABBEY SURFACING AND CONSTRUCTION LTD ABLE BUSINESS SERVICES CLEANING SOLUTIONS LTD ADCOCK CONSTRUCTION LTD ADVANCE ROBOTIC TECNIK LTD AFFORDABILITY SOLUTIONS LTD AGA LONDON LTD AGWM LTD…
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Wonga has admitted that it double-charged 7,000 customers for their loans on Friday. It says an internal system error resulted in extra payments being taken from bank accounts. Wonga has promised that extra costs and charges incurred will be refunded. The short-term lender said that the rogue payments were refunded later on Friday, but may not yet…
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Paragon Bank PLC’s asset finance division, Paragon Bank Asset Finance, has added to its business with the acquisition of one of the UK’s leading asset finance brokerages, Premier Asset Finance (Premier). Premier sources in excess of £100 million of lending per annum to a range of SME customers. Headquartered in Edinburgh, Premier has a national…
Read moreNew research shows that millions of working-age people across the UK are at financial risk due to their low levels of savings The research by the Money Advice Service, shows that 4 in 10 (40%, 16.8 million) working-age people across the nation lack a savings buffer, with less than £100 in savings available to them at…
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The Chartered Institute of Credit Management (CICM) has published a strategic report outlining its plans for the future following a comprehensive programme of research among members. The publication, entitled ‘Tomorrow’s CICM’, sets out how the study is helping to shape the future strategy and direction of the Institute. It explores the role, image and relevance of…
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Intelligent Lending, trading as Ocean Finance has been fined £130,000 after sending more than seven million texts offering a new credit card powered by a major lender. Manchester-based Ocean Finance believed it was complying with the law because the third party firm it obtained names and phone numbers from claimed it had people’s consent to send…
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Leigh Berkley, President of the Credit Services Association (CSA), has been elected to the Board and appointed Vice President of the Federation of European National Collection Associations (FENCA), an umbrella body that serves to promote and develop European best practice, standards and legislation within the European debt collection industry. This strategic re-positioning at the top…
Read moreThe Financial Conduct Authority (FCA) will mark six months since the implementation of the Senior Managers’ and Certification Regime by providing feedback on implementation so far and proposing measures to further strengthen the regime. The proposed rules will reinforce the importance of individual accountability at the most senior level of organisations. The new measures are…
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81% of UK consumers feel confident about their job security, according to the latest Lloyds Bank Spending Power Report. The monthly barometer, which tracks both spending habits and consumer confidence, showed four-in-five consumers believe their own job security is either “excellent”, “very good” or “somewhat good” – the highest level in the survey’s history, and a…
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Praetura Asset Finance a specialise provider of alternative funding to SMEs has secured £18m investment from British Business Bank Investments, the commercial arm of the British Business Bank, to boost the firm’s lending capabilities. Praetura launched just over two years ago, has already reached an £85 million turnover, providing asset-based finance, hire purchase, finance leasing and…
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Consumer credit has grown by 6.4% over the year to August, the fastest rate of growth for nearly 10 years according to the latest British Banker Association (BBA) statistics. It is thought the increase has been driven by ultra-low interest rates, people are borrowing more on credit cards and through loans and overdrafts. The number of…
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