Credit, Collections & Insolvency News
One in twelve people turned to Buy Now Pay Later (BNPL) to cover basic costs such as food and toiletries in the last six months research by Citizens Advice has found. The charity discovered young people, those in debt and those claiming Universal Credit, are at least twice as likely to have used BNPL for…
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Housing tenants face having to find an extra £1,000 this year to cover higher rent and essential bills to fund cost of living rises according to research by Hamptons. The company’s Monthly Lettings Index found that tenants will end up paying more than ever on rent and bills, with an average of 54% of household…
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Loans at Home a subsidiary of Non-Standard Finance (NSF) has entered administration. The doorstep lender has applied for administration following extensive discussions with the Financial Conduct Authority (FCA). In a company statement, NSF said that the Directors of SD Taylor (trading as ‘Loans at Home’) reluctantly concluded that the Loans at Home business is no…
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Business debt funding specialist, DSW Debt Advisory (part of the Dow Schofield Watts Group) – has announced that it appointed Chris Carter as Manager. Carter, who will be based in the Daresbury office, has over 15 years’ experience in banking, investment and corporate finance. Having started his career with HSBC and NatWest, he worked with…
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Secure Trust Bank (STB’) has announced that it has decided to exit the debt purchase market. STB subsidiary, Debt Managers (Services) (DMS’, has agreed to sell its portfolio of loans to debt purchaser, Intrum UK. The portfolio comprises around 650,000 customer loans acquired from third parties and STB. Intrum will acquire the rights of DMS…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in January 2022 by 11% compared with the same month in 2021. In the twelve months to January 2022, new business grew by 16% compared with the same period in 2021. The…
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New figures released by the Finance & Leasing Association (FLA) show that the consumer car finance market reported new business volumes up in January 2022 by 43% compared with the same month in 2021. The corresponding value of new business increased by 60% over the same period. In the twelve months to January 2022, new…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grow by 57% in January 2022. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 51% in January 2022 compared with the same month in 2021. In the twelve months to January 2022, new business grew by 23% compared with the same period in 2021. The credit card and personal loan sectors…
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A third of people say their retirement savings are a cause of ‘significant stress’ according to new research by NerdWallet, The research found that 34% consider their retirement finances to be a source of significant stress, with only 37% saying they have a clear retirement savings strategy. On average, employees said they save £298 into…
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Charity, Age UK has joined the call for the Chancellor to do more to help older people through the energy price crisis. The charity says that nearly a quarter (24 per cent) of older households in England will be in fuel stress when energy prices go up from 1st April, this is up from just…
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Southwark Council and Birmingham City Council will soon be the first two Local Authorities to use ‘debt-tech’ firm Trustfolio’s new Creditor Portal with both aiming to go live in April 2022. The Platform, developed by a collective of experts from across the credit, collections, advice, insolvency and related sectors, uses the latest fintech to enable…
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The Institute for Fiscal Studies (IFS) has said decisions taken by the Chancellor in his Spring Statement will reveal whether he believes the Government should be protecting consumers from external events or not. IFS says with the cost of living soaring, Rishi Sunak will have to decide whether to cut spending or borrow more to…
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