Credit, Collections & Insolvency News
The Money Advice Trust has announced that a number of its training programmes across both its vulnerability training and consultancy and Wiseradviser services, have achieved the City & Guilds Assured Quality Mark. On the charity’s vulnerability training and consultancy side, the courses that have achieved the Quality Assured Mark are, its ‘Supporting customers in vulnerable…
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Anti-money laundering (AML) firm SmartSearch has appointed Collette Allen as Chief Operating Officer (COO) Allen joined the company in 2013 as a Senior Support Specialist and, within two years, earned a position as Head of Client Services. Five years later, she was appointed to the SmartSearch board as Client Services Director. At 30, Allen was…
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Knights has announced that it has agreed to acquire Coffin Mew, a leading independent law firm in the South East. With a 130 year history operating in the South East of England, Coffin Mew is a leading independent law firm based primarily in Portsmouth with offices in Southampton, Brighton and Newbury. The acquisition brings 102…
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More than half of older people living in rural areas (51%) are now concerned about paying their bills, according to research from insurer NFU Mutual. The figures have shot up in the past six months from 22%, as rising inflation impacts elderly rural dwellers. The number of people in rural communities concerned about their pension…
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The total value of contactless transactions in February this year was twice the value of previous years, after the increase in the contactless limit according to latest UK Finance figures. The figures show that there were 1.7 billion debit card transactions in February, 32.9 per cent more than in February 2021 and 15.1 per cent…
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TransUnion has strengthened its partnership with credit management company, Lowell which will provide a personalised toolset for monitoring and improving their financial standing via the Lowell app for free. Powered by TransUnion’s CreditView platform, Lowell’s Credit Information Services are available via the new Lowell app on mobile and tablet devices for free, giving customers a clear understanding of what…
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Ophelos has announced it has partnered with Plend, an ethical consumer lender using Open Banking to provide affordable loans to those struggling with access to credit. The partnership will see Ophelos help Plend manage the support of customers who may find themselves in arrears. Launching in 2022 with registrations for Early Access now open, Plend…
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Arrow Global has announced the launch of a portfolio diagnostic solution for creditors. The company says that it will partner with creditors to help them better support customers through an enhanced understanding of fair-treatment and data solution strategies. The Portfolio Diagnostic Solution supports creditors by helping them assess risk within their portfolio, designing detailed strategies…
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According to new research conducted by Time Finance, more than 70% of financial intermediaries believe their clients will need some form of funding support over the next 6 months to deal with and overcome the economic challenges that 2022 continues to throw at them. The findings come as many of their SME clients face supply…
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A survey by KIS Finance has found that over 22% of those aged 18 to 35 have been forced to take on an additional job in order to make ends meet, as the cost-of-living crisis deepens. Whilst recent figures from the ONS show that unemployment fell to 3.7%, its lowest level in nearly 50 years, many are…
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Billions of pounds of taxpayers’ money will be ‘lost to fraud and error as a result of the Department for Business, Energy & Industrial Strategy’s (BEIS) approach to its Covid-19 business support schemes according to the Public Accounts Committee (PAC). Despite providing important support to businesses across the country, BEIS’ latest estimate is that £4.9…
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New research by InDebted has found that around 2 in 3 UK adults (64%) who have interacted with existing debt collectors say the experience was stressful’, increasing to about 3 in 4 (74%) among 18-34-year-olds. The company polled over 2,000 people and found that one in three (34%) who previously or currently have debts say…
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Latest figures from the Insolvency Service have indicated that personal insolvencies in England & Wales decreased by 18.5% to 9,409 in April 2022 compared to 11,550 in March, and were 4.7% lower than April 2021’s figure of 9,873. The personal insolvencies figures show that there were 530 bankruptcies registered, which was 36% lower than in April…
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