Credit, Collections & Insolvency News
Law firm, Auxillias has appointed two legal, governance and compliance specialists to its team, strengthening the firm’s offering for clients. Simon Brown has been named as Director of Compliance and Training, while Carrie Stephenson has been appointed to the role of Director of Legal and Governance. Brown will be launching the firm’s compliance offering, working…
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The number of landlord possession actions for all court stages have increased compared to the same quarter of last year but remains significantly reduced in comparison to the same quarter in 2019 according to the latest Ministry of Justice (MOJ) statistics. As a result of coronavirus and associated policy actions, all landlord possession actions have…
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Mortgage arrears continued to fall to near historic lows, with the government’s Coronavirus Job Retention Scheme remaining in place until September. according to the latest UK Finance statistics. Possessions meanwhile have slightly risen in absolute terms, off a low base, as the courts work through a backlog of cases that built up during the possessions…
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European debt purchaser, Lowell has said that collections have continued to perform ahead of expectations across the Group with all regions performing ahead of forecast. The company said, in its latest results for the 3 months ended 30th September 2021, that the UK, the recovery of the deferred collections has continued ahead of forecast expectation.…
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Pollen Street Capital has agreed on a sale of Aryza Holdings. Aryza will be acquired by Atlas Bidco 1, a company owned by Macquarie Capital Principal Finance, Pollen Street, and Aryza senior management. Pollen Street, and Aryza senior management state that all parties are excited by the future growth potential of the high-quality software platform,…
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The equity release market is on course for a record year after customers took out £1.049 billion in property wealth in the three months to the end of September according to data from the UK’s equity release adviser Key. The total value of equity released rose by 18.8% from nearly £884 million in the third…
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Homeowners hit by the pandemic are now losing their homes, evicted by banks in court hearings, a joint probe by Money Mail and The Bureau Of Investigative Journalism has found. The ban on bailiff-led evictions was extended until the end of May in England and the end of June in Wales. But the research has…
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A new financial education guidance for primary and secondary schools in England has been launched with the support of the Department for Education (DfE). The guidance, which has been developed by the Money and Pensions Service (MaPS) in its role as coordinator of the 10-year UK Strategy for Financial Wellbeing, is aimed at encouraging conversations…
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Financial advisory business, Interpath Advisory has announced the promotion of Sarah Collins promoted to Managing Director and Lucy Brocklebank to Director. The promotions come as part of a wider round which saw 35 colleagues promoted across the business. Collins is an experienced advisor and insolvency practitioner, having worked at Interpath (formerly KPMG’s UK Restructuring practice)…
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Over 2.8 million people with mental health problems fell into council tax debt during pandemic according to new research by Money and Mental Health. The research shows that people with mental health problems have been hit particularly hard financially during the pandemic, with two in five suffering a drop in income, and three in ten…
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More than two in five (41%) young people said that their money worries had increased because of the Covid-19 pandemic, new research YouGov, as part of a partnership between youth charity The Mix and global information services company Experian. Over a third (35%) of young people surveyed agreed that the impact of the pandemic on…
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New research by Canada Life has found that over a third of parents are gifting money to children. The research found of those who had gifted the top reason for doing so was to support children or grandchildren with general living expenses (21%). Almost two-fifths (18%) said it wasn’t for a specific purpose and they just…
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New research has found that Klarna now holds over 50% share of the global Buy Now, Pay Later (BNPL) market sector. Data presented by the HelpCenter app has revealed that Klarna is currently the most popular Pay Later technology in the market, offered by 53% of websites on the entire internet, higher than its competitors…
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