Inflation fell to 3.2% in March – consumer credit industry reaction

Latest data from the ONS has found that CPI inflation fell to 3.2 per cent in March, lower than the 3.4% reported in February. Commenting on the data, Steve Vaid, Chief Executive of the Money Advice Trust, the charity that runs National Debtline, said “Falling inflation is welcome news and will provide some relief for…

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Inflation continues downward trend – business industry reaction

Latest ONS data has found that inflation came in at 3.2% in March, slightly less of a drop than economists had forecast. The rate is at it’s the lowest in two and a half years, and well down from the peak at 11.1% in October last year. The biggest factor pushing inflation down was food,…

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Car Insurers hit with nearly 40% charge for paying monthly

17th April 2024 Consumer Lending | #featured

Car owners are being hit with eye-watering annual percentage rates (APR) of nearly 40 per cent when paying for their insurance monthly, a new Which? investigation has found. The study found some home insurers charging up to almost 35 per cent APR on monthly payments. The consumer champion is now calling on the Financial Conduct…

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One in five wait until their forties before owning a home

Around half (48%) of first-time buyers say their prospects of owning a home are further away than ever due to the ongoing cost-of-living crisis, research by Nationwide Building Society shows. The research shows that one in five (20%) don’t think they will be able to buy until at least their forties – a significant increase…

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FEATURE: Redress and resolve – The immediate action plan for motor finance businesses

8th April 2024 Consumer Lending | #featured

In the world of motor finance, the spotlight on Discretionary Commission Arrangements (DCAs) has intensified, not least due to the influential coverage of consumer champion Martin Lewis. This heightened attention, coupled with the ongoing investigation by the Financial Conduct Authority (FCA), places motor finance businesses at a critical juncture. Navigating this landscape requires a proactive…

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Nearly a quarter of adults have used BNPL in the past year

Nearly a quarter of adults (23%) said they have used BNPL in the past year, mirroring pre-festive season observations according to research by TransUnion. The survey data points towards a robust and maturing sector, with more than one in five (21%) planning to apply for new BNPL services in the coming year. Yet despite many…

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PKF Smith Cooper acquires BLB

4th April 2024 Insolvency | #featured#merger

Midlands-based accounting and advisory firm PKF Smith Cooper (PKFSC) has acquired West Midlands insolvency boutique BLB Advisory. BLB’s Director and owner Brett Barton and seven team members will join PKF Smith Cooper as part of the acquisition. The acquisition will see the PKF Smith Cooper team gain a further 80 years of experience and expertise…

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Lending Technology Think Tank 4.1 Review

Credit Connect’s hosted its sixth Online Lending Technology Think Tank last week which saw lending strategies and the future of the sector discussed by eight leading professionals from a variety of lending sectors. The event was attended by over a hundred lending professionals from banks, credit card providers building societies, loan providers, credit unions and…

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Collections Technology Think Tank 5.1 Review

Credit Connect hosted its sixth Online Collections Technology Think Tank last week which saw collections strategies and the impact of cost of living economic stresses discussed by eight collections professionals from a variety of industry sectors. In the eighth edition of the Collections Technology Think Tank series, hosted by Credit Connect Media, industry professionals gathered…

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Credit Connect Media launches new industry Awards

8th February 2024 Consumer Collections | #featured

Credit Connect Media has announced that it will launch a new event called the Credit & Collections Industry Awards. The inaugural industry Awards will seek to recognise excellence within credit and collections by highlighting achievements through its new tangible and transparent awards judging scheme. The awards will recognise key industry innovations and initiatives in credit,…

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2024 Credit & Collections Technology Awards opens for entries

The 2024 Credit & Collections Technology Awards have opened for entries. Launched in 2017, the eighth annual awards seek to recognise excellence in credit and collections technology. The Credit & Collection Technology Awards powered by Credit Connect are judged by independently selected judges from across the industry, who have the enviable task of identifying the best and greatest innovations in…

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Credit & Collections Technology Awards publishes 2023 review

20th December 2023 Consumer Collections | #featured

Credit Connect has published its annual Credit & Collections Technology Awards review. The awards review highlights the unique transparency of the Credit & Collections Technology Awards with graphics on the winning companies accompanied by judges comments. The award’s rigorous and transparent process enables each company that enters the awards an opportunity to receive a bespoke…

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Ofgem announces new proposals as energy debt rises to £2.9bn

Ofgem has announced that energy debt has reached £2.9 billion and may look to recover this by raising the price cap and increasing energy bills. The energy regulator says that the scale of energy debt means that they must take action to protect market and ensure customers are protected from uncontrolled rises This follows an…

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