Credit, Collections & Insolvency News
The UK Receivables sector is showing low levels of fraud and business failures according to new research by EQ Riskfactor which has highlighted the impact of Covid-19 on fraud across Europe and the USA. The report surveyed senior decision-makers from the receivables finance industry across the UK, US, Germany, France and the Netherlands on the impact…
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The United Kingdom is the third country most at risk of credit card fraud a new study by Merchant Machine has revealed. The research found that Ireland, France and the United Kingdom are in the top three countries most at risk of credit card fraud, with Ireland and Greece highlighting the highest percentages of increase…
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SME partner Bibby Financial Services (BFS) has appointed Mike Day as Head of Sales for Yorkshire and the North East to boost its support for businesses in the region. Day re-joins BFS after just under a year spent as Director with Begbies Traynor Group, where he worked within the Corporate Solutions team to help SMEs…
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The number of alleged fraud cases being heard in UK courts in the first half of 2021 has almost doubled compared to the same time in 2020, as UK courts saw a continued recovery in the system following Covid-19 lockdowns. Figures from KPMG UK’s Fraud Barometer, found 151 alleged fraud cases were heard in the…
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Over a quarter (27%) of household bill-payers say an increase of more than £10 a month in their energy bills could force them into debt. The research by USwitch.com is just days ahead of an expected hike in the price cap which will be announced by the energy regulator, Ofgem, which is due to announce…
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More than half of young Islamic finance customers would adopt Islamic banking if it were more accessible, according to a report from cloud banking platform Mambu. The report, which surveyed 2,000 millennial and Gen Z consumers globally, illustrates the growing appeal of Islamic finance services around the world, as over half (53%) of young Muslims…
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European credit management services company Lowell has announced its latest quarterly results for the three months ending 30 June 2021. The results showed that collection performance continued to outperform forecasts across all three regions, performing at 111% for the six months to June 20 21. The company highlighted: • LTM Cash EBITDA margin increase of…
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Energy suppliers have increased the cheapest energy deals by £180 in a year, since the start of July 2020, with the new price cap level expected to rise for millions of households, according to research from comparethemarket.com. The increase comes as energy deals have reached the highest cost for more than two years. The average…
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New research by outsourced finance solution specialist, Addition, has found that nearly a third of UK businesses are concerned about surviving the next 12 months. The national survey highlighted the main concerns for small business owners over the next 12 months., showed that surviving without government support is the biggest concern for businesses in the…
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New research by LifeSearch has found that 7% of Brits have overpaid on their mortgage over the past six months with on average, those who have overpaid their mortgages have done so at an average rate of £319 per month, which across the UK as a whole, is £1.5 billion a month or £7 billion…
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New figures released by the Finance & Leasing Association (FLA) show that the consumer car finance market reported growth in new business volumes of 12% in June 2021 compared with the same month in 2020. In the first half of 2021, new business volumes were 31% higher than in the same period in 2020. The…
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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 39% in June 2021 compared with the same month in 2020. In the first half of 2021, new business was 28% higher than in the same period in 2020. The plant…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 195% in June 2021. 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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