Credit, Collections & Insolvency News
United Trust Bank (UTB) has announced that it has appointed Astrid Michael as its new Head of Sales for its Asset Finance division following the retirement of Keith Sangwin earlier this year. Michael has worked in the Asset Finance industry for 20 years and is a highly experienced professional with a strong track record of…
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Open Banking falling short of its promise according to ConnectPay. In January 2018, the Payment Services Directive 2 (PSD2) was introduced, paving the way for Open Banking, with the new initiative, enabling third-party access to banking data. This created enormous space for innovation for fintech companies, promising ample opportunities to develop and deliver new, powerful…
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New figures released today by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 67% in September 202 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),…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 1% in September 2021 compared with the same month in 2020. In the nine months to September 2021, new business was 13% higher than in the same period in 2020. The credit card and personal loan sectors…
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New figures released by the Finance & Leasing Association (FLA) show that the consumer car finance market reported a fall in new business volumes of 21% in September 2021 compared with the same month in 2020. In the nine months to September 2021, new business volumes were 9% higher than in the same period in…
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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 by 6% in September 2021 compared with the same month in 2020. In the nine months to September 2021, new business was 20% higher than in the same period in 2020. The…
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New data from Time Finance has revealed that 70% of businesses are suffering from late payments from their customers. Uncovering the true severity of the issue, the leading alternative finance provider found that late payment debt was as high as £200,000 for one in five business owners. The findings come despite the government introducing a…
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Recent changes to laws around insolvency could cause major problems for suppliers according to Bishop & Sewell. The London law firm is recommending that companies proactively review their commercial relationships and, where necessary, take steps to re-negotiate contracts and reduce their exposure to creditors. George Marques, a Senior Associate Solicitor in Bishop & Sewell’s Corporate…
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Following a competitive tender process EQ Credit Services (EQCS), part of Equiniti Group plc, has announced that it has been awarded a five-year contract to handle the equity loan administration and servicing of the Help to Buy scheme on behalf of Homes England. The partnership will require EQ Credit Services to manage the programme on…
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Legal and professional services business Knights has announced the launch of its debt advisory services, making it the first UK legal services business to establish a specialist debt advisory offering. Knights’ specialist debt advisers act independently from lenders, offering clients a unique proposition whereby they can receive both debt and legal advice from one trusted…
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The winners of the 2021 Credit & Collection Technology Awards have been announced following a live in-person event yesterday (Thursday 4th November) at the Midland Hotel in Manchester. The awards are the flagship event for innovational technological professionals working in credit and collections and the fifth annual event honoured the UK’s technological innovators, celebrating outstanding…
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More than three million households are entering winter in debt to their energy supplier, half a million more than last year according to new research from Uswitch.com. Households are going into the coldest time of year owing £510 million, a rise of £77 million since 2020, with many feeling additional pressures caused by the rising…
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New research by NerdwWallet has found that over a quarter of consumers have borrowed due to gambling The research found that 46% who gamble daily have taken a loan or credit because of gambling, the highest of any category. Whilst 28% who gamble at least once a month have taken a loan or credit because…
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