Credit, Collections & Insolvency News
Provident Financial Group (PFG) has announced the appointment of Fiona Anderson as Managing Director of Cards, subject to regulatory approval. Anderson has a wealth of significant experience across credit cards and personal banking. From 2019 to 2021, she served as Head of Everyday Banking at HSBC and prior to that she held senior positions at…
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Provident Financial has reported pre-tax profits that are marginally ahead of market expectations as it continues to reposition and rebuild the business. The business generated adjusted pre-tax profits of £64.8 million, compared with a £54.6 million loss in 2020. Malcolm Le May, Chief Executive Officer, said “I am pleased to report that the Group’s financial…
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The soaring cost of living is cited by over a half a million people as a key driver for personal debt, new analysis from Citizens Advice Scotland (CAS) has revealed. Analysis by the charity of polling undertaken by YouGov found that 52 per cent of Scottish adults in debt or at risk of debt since…
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Latest ONS figures have highlighted the impact of increased cost of living with adults not being able to afford an unexpected expenses. The figures showed that over 8 in 10 (83%) adults reported an increase in their cost of living in March 2022 compared with around 6 in 10 (62%) adults in November 2021. Early…
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Euler Hermes has announced that it has rebranded and will now be known as Allianz Trade Trade credit insurance specialist Euler Hermes says that the rebrand is part of a natural move having been fully part of the Allianz Group since 2018. Clarisse Kopff, CEO of Allianz Trade said “We are now Allianz Trade. What does…
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The Money and Money Health Policy Institute is calling on the Government to step up efforts to prevent financial harm for people receiving secondary mental health care. A new report shows that the annual average income of people with severe mental health problems is £6,500 lower than the wider population, due to factors such as…
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Around ten million people, or one in five adults, would struggle to manage in a society without cash, according to a report from the Royal Society of Arts commissioned by cash machine network Link. The research found that almost half of people believe going cashless would be problematic, and while three in ten think they…
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StepChange Debt Charity’s latest client data report for February has shown a rise in the proportion of people seeking advice who say that cost of living pressure is a reason for their debt. The cost of living was the fourth most common reason last month, cited by around one in nine clients. The Bank of…
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A report from EY Item Club has revealed that the fifth of households on the lowest incomes will be hit the hardest by rising inflation – suffering a 9.6% rise in living costs compared with an average of 8.6% for the richest fifth of households. EY Item Club economists say inflation will peak next month…
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Here is an overview of The Money Charity’s latest statistics for March 2022 Personal debt in the UK People in the UK owed £1,767.1 billion at the end of January 2022. The average total debt per household, including mortgages, was £63,582 and per adult was £33,410, around 107.5% of average earnings. Net mortgage lending rose by…
Read moreLatest figures from the Bank of England (BoE) has indicated that consumers borrowed a net £1.5 billion on credit cards in February, the highest monthly amount since records began in 1993. The figures showed that lending to consumers rose by the most in nearly five years in February, jumping 90% compared to January. Consumer credit…
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Intelligent decisioning technology provider LendingMetrics has announced a number fo new appointments to ensure high delivery standards as its customer base expands. Ben Smith has joined the company as Account Manager; Kelvin Lee as Support Engineer; Ross Tully as Business Development Manager; and Paulo Bordeira De Brito as Developer. Alongside these changes, Craig Jenkins has…
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As new data shows gambling participation is back to pre-pandemic levels, the charity GambleAware has warned that an estimated 1.4 million people are experiencing harms from their gambling. The figures come as GambleAware launches a campaign to raise awareness of treatment and support available through the National Gambling Treatment Service (NGTS). Working in partnership with…
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