News

Neural Technologies finalist in IT Supplier of the Year Award

Mon, 06 Sep 2010 17:53:37 +0100

Risk management software solution provider, Neural Technologies, has been selected as a finalist for the IT Supplier of the Year Award by the BCS & Computing UK IT Industry Awards 2010 in the Organisational Excellence category. The shortlisting is a recognition of the company’s work on a major fraud and credit risk management project carried out for leading Turkish mobile operator, Turkcell.

Target announces major jobs boost and achievement of Investors in People accreditation

Mon, 06 Sep 2010 17:49:29 +0100

Leading financial software and servicing company, Target Group, is expanding following another significant contract win. As a result, over 30 jobs will be created at its servicing centre at Tredegar Park, near Newport.

National Insurance holiday 'does not go far enough'

Mon, 06 Sep 2010 17:43:05 +0100

The Forum of Private Business (FPB) is welcoming a National Insurance (NI) holiday for some start-ups but calling for further tax breaks if small businesses are to be the catalyst for sustained economic recovery.

Optima Legal chooses Money Advice Trust as charitable partner

Mon, 06 Sep 2010 17:39:41 +0100

Optima Legal has pledged its support to national debt advice charity, Money Advice Trust (MAT).

Callcredit Strengthens Leadership Team

Mon, 06 Sep 2010 17:35:27 +0100

Callcredit Information Group welcomes Adrian Mitri and Tom Ilube in the new roles of Chief Operating Officer and Managing Director of Consumer Markets, respectively.

National insurance holiday for new businesses in the regions begins

Mon, 06 Sep 2010 13:15:06 +0100

Today a new regional National Insurance Contributions (NICs) holiday for new businesses came into effect. New business set up outside London, the South East and East of England will be eligible for a holiday worth up to £5,000 for up to the first ten employees they hire in their first year of business. This means a maximum saving on their national insurance payments of up to £50,000.

Software provider advocates automating payment processes to boost efficiency and reduce costs

Mon, 06 Sep 2010 13:10:31 +0100

Direct Debit Limited, the Bacs-approved payments-management software provider, will showcase its market-leading PayCentre platform at the Credit Services Association (CSA) and Debt Buyers and Sellers Group (DBSG) Annual Conference, 8th and 9th September 2010. PayCentre helps organisations including debt buyers and sellers, debt-recovery agencies and credit-services firms make and collect payments more efficiently.

Begbies Traynor Group launches BTG Global Risk Partners

Mon, 06 Sep 2010 13:03:59 +0100

Begbies Traynor Group, the specialist professional services consultancy, today announces the launch of BTG Global Risk Partners, bringing together the Group’s forensic accounting, computer forensic, investigation and security risk practices into a new integrated business, with immediate effect.

ICM Launches Credit Services Directory

Fri, 03 Sep 2010 12:41:25 +0100

The Institute of Credit Management (ICM) has recently launched Cr£ditWho?, a fully searchable directory of product and service providers, aimed at giving credit professionals and businesses needing advice an easy route to the right solution.

Service sector profitability falls as business levels remain below normal

Fri, 03 Sep 2010 12:21:00 +0100

Profitability fell unexpectedly in both the Consumer and Business & Professional Services sector in the last three months as business levels remained well below normal, according to the latest Confederation of British Industry (CBI) Service Sector Survey.

Deutsche Bank strengthens the high yield trading business in Europe

Thu, 02 Sep 2010 16:16:56 +0100

Deutsche Bank today announced a number of key hires to strengthen its already successful high yield trading business in Europe.

FSA bans insurance broker David Marriott for persistent misuse of client money

Thu, 02 Sep 2010 16:11:18 +0100

The Financial Services Authority (FSA) has imposed a lifetime ban on David Marriott, former chief executive of two insurance intermediaries, Target Underwriting Ltd (Target) and Professional Insurance Select LTD (PISL) for failing to segregate and protect money from clients’ insurance premiums.

DRF welcomes Northern Rock announcement on interest freeze

Thu, 02 Sep 2010 16:08:33 +0100

The Debt Resolution Forum (DRF), trade body for fee-charging debt solution companies, welcomes the announcement from Northern Rock that, from September 1, they agree to freeze all interest on debts owed by customers entering Debt Management Plans in order to help repay their debt.

Wayne Hiley Appointed to New Position as Head of Debt Finance, Northern England

Thu, 02 Sep 2010 16:04:39 +0100

Barclays Corporate, the corporate banking arm of Barclays Bank PLC, today announced the appointment of Wayne Hiley in the new position of Head of Debt Finance, Northern England.

The P&A Group of Companies launches Scottish office

Thu, 02 Sep 2010 16:00:28 +0100

Yorkshire - based The P&A Group of Companies, one of the largest independent insolvency and debt collection firms in the UK, has appointed business recovery expert Derek Simpson to head up its first office in Scotland.

FSA fines Moneywise IFA Limited for advice failings in relation to platforms

Thu, 02 Sep 2010 15:44:38 +0100

The Financial Services Authority (FSA) has fined Moneywise IFA Limited (Moneywise) £19,600 for failing to have sufficiently robust compliance arrangements for the investment advice it gave customers using platforms and discretionary portfolios.

SAS ranked as a leader credit risk management systems market for fourth year

Thu, 02 Sep 2010 15:40:52 +0100

Chartis Research's Credit Risk Management Systems 2010 report ranks SAS, the leader in business analytics software and services, as a leader for the fourth straight year.

4 million benefit recipients still prevented from using UK cash machine network

Thu, 02 Sep 2010 15:37:19 +0100

Today, LINK, the UK cash machine network, has published its annual Consumer Committee Report. The report regrets that despite successfully installing 740 new free-to-use ATMs in the country's most deprived areas, 4 million consumers with government-issued Post Office Card Accounts - used for withdrawing benefits - are still unable to use them.

SMEs urged to unlock the secrets of the web through free events

Wed, 01 Sep 2010 17:33:46 +0100

Smaller businesses across the UK are being invited to discover how they can harness the full potential of the internet through a series of free events.

Coface confirms the strong recovery of its result in the 1st half of 2010

Wed, 01 Sep 2010 17:28:39 +0100

The positive trend that began in the second half of 2009 is confirmed in the first half of 2010, with operating profit of €55m compared to -€47m in the second half of 2009 and -€202m in the first half of 2009.

With SAS software, Alliant Credit Unionâs enhanced risk management program will lead market

Wed, 01 Sep 2010 17:13:58 +0100

To strengthen its market leadership, Alliant Credit Union of Chicago has chosen SAS to upgrade its enterprise risk management (ERM) program. The seventh-largest US credit union based on asset size, Alliant chose SAS OpRisk Management from the leader in business analytics following a successful 2009 SAS Analytics implementation.

UK consumers keeping lenders in the dark about their financial woes

Wed, 01 Sep 2010 00:00:01 +0100

Independent research commissioned by Callcredit Information Group has today revealed that British consumers are storing up considerable problems for themselves and lenders by failing to keep their bank or building society informed about their financial woes. 69% of adults suffering from financial pressures over the past two years admit to failing to speak with their bank or building society about their financial difficulties, and 42% have not come completely clean about their financial situation ...

Action taken against two brokers for mortgage fraud failings

Tue, 31 Aug 2010 17:49:55 +0100

The Financial Services Authority (FSA) has taken action against two mortgage brokers whose reckless business practices allowed false and misleading mortgage applications to be made to lenders.

Godiva strengthens its position in the prime residential market

Tue, 31 Aug 2010 17:47:15 +0100

Godiva Mortgages has underlined its recent entry into the prime residential mortgage market by launching new residential and buy-to-let mortgage deals, including a market-leading 3 Year Fixed Rate for residential purchases and remortgages.

Credit Action Debt Statistics (September 2010)

Tue, 31 Aug 2010 17:43:43 +0100

The Office for Budget Responsibility (OBR) predicts that household debt will be £1,823bn by end 2015 which is a growth of £159m a day. This would take the average household debt to £72,341 per household.

Nearly one in three UK firms targeted by fraudsters in past eighteen months

Tue, 31 Aug 2010 17:40:12 +0100

Almost a third of UK businesses, (31 per cent), have been targeted by fraudsters over the past eighteen months, reveals recent research carried out by Graydon UK, the commercial credit referencing agency.

Free advice for UK businesses on debt recovery in foreign countries

Tue, 31 Aug 2010 17:04:49 +0100

Atradius Collections, the global expert in domestic and international debt collections, releases the latest edition of the International Debt Collections Handbook. The International Debt Collections Handbook is an essential tool for export-oriented UK businesses making decisions around debt recovery in foreign countries. In total the handbook covers 26 countries and covers the different stages of amicable settlement, financial regulations around collections, legal proceedings and insolvency proc ...

Absolute rebrands as integration with Aldermore completes

Tue, 31 Aug 2010 17:00:15 +0100

Absolute Invoice Finance, the specialist business financier that was acquired in November 2009 by Aldermore, the new British bank, has today rebranded as Aldermore Invoice Finance.

FSA fines SociÃ©tÃ© GÃ©nÃ©rale Â£1.575 million for failures in transaction reporting

Fri, 27 Aug 2010 17:51:38 +0100

The Financial Services Authority (FSA) has fined the London branch of Société Générale (SocGen) £1,575,000 for failing to provide accurate transaction reports to the FSA. The fine reflects the seriousness of SocGen’s failure to submit accurate reports for approximately 80% of its reportable transactions, across all of its asset classes, for a period of over two years.

Confusing benefits leave some indebted families out of pocket

Fri, 27 Aug 2010 13:03:16 +0100

Leading debt solutions provider, Atlantic Financial Management, is warning that many families and individuals already in financial difficulty are facing further hardship because they are under claiming for the various welfare benefits and tax credits to which they are entitled.

Wright Hassall adds to collections team

Fri, 27 Aug 2010 13:01:05 +0100

A Midlands law firm hassignificantly expanded its debt recovery service by appointing a team of four experts.

Police forces failing small businesses on prompt payment

Thu, 26 Aug 2010 21:07:01 +0100

New research into police payment practices has revealed vast differences in the amount of time different forces take to pay their suppliers and contractors.

Falling credit demand reflects economic uncertainty

Thu, 26 Aug 2010 21:01:43 +0100

Low consumer confidence in the economy is affecting the take-up of consumer credit products. This is the implication of the latest consumer credit figures from the Finance & Leasing Association (FLA), which show that consumers used 8% less credit in the 12 months to June 2010 than in the previous 12 months.

Experian appoints Head of Insurance for UK & Ireland

Thu, 26 Aug 2010 20:58:06 +0100

Experian®, the global information services company, today announces the appointment of Sandy McPherson as Head of Insurance for UK and Ireland.

Vendor and distributor credit managers will focus on future challenges and opportunities

Thu, 26 Aug 2010 20:52:38 +0100

P&A Receivables, the leading credit management and debt recovery service provider to the IT industry, is expecting ‘a lively and frank exchange’ of opinions at its forthcoming European Credit Forum (ECF) for senior credit managers from IT vendors and distributors, which takes place in Dublin on Thursday 16th and Friday 17th September.

Direct Corporate Access Service one year on

Thu, 26 Aug 2010 20:44:57 +0100

One year on, the Faster Payments Direct Corporate Access Service is making headway. Earlier this year Direct Corporate Access (DCA) extended submissions from its current 6am – 2pm window to 3am – 11pm, Monday to Friday and now the service is set to increase the submission limit from £10,000 to £100,000 as of the 6th September 2010.

Half of self employed debtors unable to repay debts as people cut back on luxury services

Wed, 25 Aug 2010 18:24:31 +0100

Half of those contacting debt charity Consumer Credit Counselling Service’s (CCCS) Self Employed Centre are unable to repay their debts. The CCCS centre, which specialises in dealing with the personal finances of the self employed, has helped over six and a half thousand people this year. However, only 1,600 were in a position to enter into a debt management plan (DMP) and repay their debts as over half of callers had a deficit budget and therefore no money to start repaying their debts. ...

Commercial landlords should act early on rent arrears to produce a fair resolution

Wed, 25 Aug 2010 18:21:53 +0100

As Chairman of the Association of Civil Enforcement Agencies, Colin Naylor,Managing Director of Dukes Bailiffs, has a special position when it comes to advising on best practice for the industry.

Forum urges small firms to tell of their banking experiences via online survey

Wed, 25 Aug 2010 18:16:49 +0100

A not-for-profit small business support group is urging firms to take part in a new survey to highlight their experiences of dealing with the banks.

Home-ownership - the end of a golden era or start of a new age of aspiration?

Tue, 24 Aug 2010 18:24:49 +0100

Are we at the end of a golden era of owner-occupation, or the beginning of a new age of aspiration, with home-ownership at its centre? Today’s issue of CML News & Views looks at the contrasting claims of the Chartered Institute of Housing and the new housing minister, Grant Shapps.

CallataÃ¿ & Wouters launches guide on payment standardisation

Tue, 24 Aug 2010 18:20:25 +0100

The pace of change in the European payments landscape today is unprecedented. Initiatives such as the Single Euro Payments Area (SEPA) and the Payment Services Directive (PSD) are reshaping the industry, encouraging new market entrants, enhancing competition and, ultimately, improving customer service for consumers and corporates alike. Banks’ payments business is coming of age and has never been so important to the future success of the organisation as a whole.

FSA fines Zurich Insurance Â£2,275,000 for the loss of 46,000 policy holdersâ personal ...

Tue, 24 Aug 2010 18:14:47 +0100

The Financial Services Authority (FSA) has fined the UK branch of Zurich Insurance Plc (Zurich UK) £2,275,000 for failing to have adequate systems and controls in place to prevent the loss of customers’ confidential information. The fine is the highest levied to date on a single firm for data security failings.

Callcredit agrees long-term credit report deal with Rent4Sure

Tue, 24 Aug 2010 18:11:45 +0100

Callcredit Information Group has signed a five year deal with tenant referencing specialists Rent4Sure, to supply credit reports and risk assessments through its CallReport product.

Creditsafe launches advanced prospecting tool

Tue, 24 Aug 2010 18:06:13 +0100

Creditsafe, the business intelligence experts, has announced the launch of Advanced Prospects, a marketing tool that delivers vital business intelligence on 3.7 million companies throughout the UK.

New reports reveal all about payments in the UK

Mon, 23 Aug 2010 17:48:09 +0100

UK Payments Statistics 2010 and UK Plastic Cards 2010, two reports published by the Payments Council and The UK Cards Association, reveal all you ever wanted to know about payments in the UK.

Forum criticises plans to tax small firms on staff parking

Mon, 23 Aug 2010 16:28:56 +0100

A small business support group has reacted to reports that a controversial tax on private parking spaces is set to be extended.

First growth in asset finance since September 2008

Mon, 23 Aug 2010 15:56:59 +0100

June this year saw growth in new asset finance (leasing and hire purchase), including commercial vehicles and other business equipment, for the first time since September 2008.

Lend and Borrow on YES-secure to Win Exciting Freebies

Mon, 23 Aug 2010 15:52:45 +0100

YES-secure.com recently launched its innovative online financial social lending and borrowing platform in the UK consumer loans space and would like to involve the public with a series of exciting promotional offers. We would like to highlight the various offers before their time runs out and our registered members as well as general public lose out on some great investment propositions.

Growing performance gap in the UK Debt Collection Agencies industry

Sat, 21 Aug 2010 08:53:07 +0100

There is a real mixed bag of company performance in the UK Debt Collection Agencies industry at the moment. New research from market analysts Plimsoll indicates that with 83 companies in trouble, 164 others powering ahead and a further 70 set to be taken over, the market has never been more fragmented.

Repossessed property sells at fastest ever rate

Thu, 19 Aug 2010 18:58:00 +0100

Susan Robinson, Solicitor at Optima Legal comments that the market for repossessed properties appears to be gaining momentum with the average number of days taken to sell repossessed property not only significantly decreasing, but also their final prices achieving and exceeding the market value.

LSC - the first public body to fight fraud through CIFAS

Thu, 19 Aug 2010 18:52:16 +0100

The Legal Services Commission (LSC) is the first public sector organisation to join CIFAS, the UK’s Fraud Prevention Service, to counter the fraudulent use of taxpayers’ money.

Connections on YES-secure.com give better rates for borrowers and higher returns for lenders

Thu, 19 Aug 2010 18:47:50 +0100

YES-secure.com, a web marketplace for people to find, help and evaluate lending and borrowing opportunities with other people, has introduced social networking to the lending and borrowing community in the UK.

Rise in bereaved seeking help from debt charity

Thu, 19 Aug 2010 18:42:26 +0100

National debt charity, Consumer Credit Counselling Service (CCCS), has seen a rise in calls to its helpline from people struggling to deal with debts after a bereavement. Most of these calls are from people who are dealing with the debts of their recently deceased spouse or partner. CCCS says that this is particularly serious when they are joint and severally liable for the credit which means that they will have to repay all of the remaining sum themselves.

Atradius appoints Mark Palmer to lead and expand its London Special Products team

Thu, 19 Aug 2010 18:39:30 +0100

Formerly Director of the Trade Credit Surety and Political Risks Division at Marsh Brokers Ltd (formerly HSBC Brokers Ltd) Mark’s career has spanned banking and broking as well as the underwriting of trade credit and political risk.

Gross mortgage lending up 5% in July

Thu, 19 Aug 2010 18:31:57 +0100

Gross mortgage lending totalled an estimated £13.6 billion in July, a 5% increase from £12.9 billion in June but down 3% from £14 billion in July 2009, according to new data from the Council of Mortgage Lenders (CML).

Public invited to vote on ideas to make savings

Wed, 18 Aug 2010 18:15:54 +0100

The public is today being asked to vote to find the best ideas from over 44,000 submitted to the Treasury as part of the public engagement through the Spending Challenge website. The most promising ideas will be taken forward as part of the Spending Review process, which will set budgets for public services for the next four years.

Payments Council Welcomes Handelsbanken

Wed, 18 Aug 2010 18:12:25 +0100

The Payments Council today announced that Handelsbanken has become a full member of the Payments Council. This now brings the total membership to 29 members and 11 associate members.

Equifax puts more intelligence into recoveries activity

Wed, 18 Aug 2010 18:08:37 +0100

Leading consumer debtor and credit risk expert, Equifax, has enhanced its Debtor Management Solutions. A new Recoveries Report has been added to its Locate service giving collectors a unique insight into the credit commitments and behaviour of debtors.

Adeptra brings context and intelligence to global banks with new deployments of its decision engine

Wed, 18 Aug 2010 18:02:15 +0100

Adeptra, the recognized leader in automated customer contact and resolution for fraud, collections and marketing, has announced new deployments of its Decision Engine technology for banks headquartered in North America and Europe.

Undervalued properties preventing bank lending to small firms, Forum warns

Wed, 18 Aug 2010 17:55:54 +0100

A small business support group is warning that inaccurate property valuations are preventing many smaller firms from accessing affordable bank lending.

Lafayette Federal Credit Union picks SASÂ® for predictive insight from operational data

Wed, 18 Aug 2010 17:49:43 +0100

Facing increased competition, credit unions struggle to work smarter while still providing superior member service. Lafayette Federal Credit Union (LFCU) wanted to predict and prepare for events and issues rather than simply react.

MPC August minutes - comments from Nick Hopkinson, Property Portfolio Rescue

Wed, 18 Aug 2010 17:45:12 +0100

Comments from Nick Hopkinson, Director of Property Portfolio Rescue – the UK-based residential property landlord – in relation to the release of today’s minutes for the August meeting of the Monetary Policy Committee:

New 'calculator' tots up trouble in store for small business cashflow

Wed, 18 Aug 2010 17:40:43 +0100

The results of a new online tool launched by the Institute of Credit Management (ICM) to give small businesses an early warning of potential problems with cashflow are already giving cause for alarm.

Credit unions highlighted as alternative to payday lending by Consumer Focus

Tue, 17 Aug 2010 17:28:05 +0100

A report from Consumer Focus on the pay-day lending market has recommended the extension of support for credit unions and an expansion of their services through the Post Office network to address the detriment that can be caused by high-cost, instant borrowing.

CBS to focus on Coventry Intermediaries following merger

Tue, 17 Aug 2010 17:16:10 +0100

Coventry Building Society has announced that ITL Mortgages Ltd, the intermediary subsidiary of Stroud & Swindon Building Society, will close to new business when the two societies merge on 1st September.

Finally, a reason to pay bills on time (Albany Software)

Tue, 17 Aug 2010 17:12:27 +0100

Managing cash flow has become one of the great SME arts over the past year and looks set to remain a critical skill for business survival for some time to come. But just how many organisations understand the costs that are being incurred as a result of failing to pay on time?

FCCI Insurance Group improves pricing, profitability with SASÂ® Analytics

Tue, 17 Aug 2010 17:07:25 +0100

Technology is helping insurers improve profitability and operational efficiency by better understanding and servicing customers. Using SAS, the leader in business analytics, FCCI Insurance Group harvests valuable information from its data, helping underwriters select accounts and price insurance products.

Money Advice Trust announces new 2010 trigger figures for the Common Financial Statement

Tue, 17 Aug 2010 17:04:03 +0100

The updated Common Financial Statement (CFS) trigger figures are now live on the CFS website, and can be accessed by licence holders. To access the trigger figures or apply for a licence, please visit www.cfs.moneyadvicetrust.org.

FSA bans five individuals for insurance fraud and insurance broker gets large fine

Tue, 17 Aug 2010 16:59:21 +0100

The Financial Services Authority (FSA) has banned five individuals for failings in relation to insurance fraud. It has also imposed one of its largest ever fines of £150,000 for insurance fraud on one of these individuals and £50,000 on another.

Comment from Bibby Financial Services on Vince Cable's green paper

Tue, 17 Aug 2010 16:52:28 +0100

In response to the announcement of Vince Cable and George Osborne's "intense discussion" on the issue of access to finance for small businesses, Edward Rimmer CEO of specialist invoice financier Bibby Financial Services, believes that if consultation by the Asset Based Finance Association is taken on board, more businesses will understand the benefits invoice finance presents for real funding and growth opportunities:

Fairfax Solicitors appoints chief operating officer

Tue, 17 Aug 2010 16:47:54 +0100

Following the appointment of Jonathan Holt as Chairman, Fairfax Solicitors Limited has continued to strengthen its senior management team with the appointment of Gary Marshall as its Chief Operating Officer.

ISO 9001 certification for LRC

Mon, 16 Aug 2010 16:20:55 +0100

Legal Recoveries & Collections Ltd (LRC) has recently achieved ISO 9001 certification, the recognised quality management systems standard.

Poll of polls suggests UK heading for a double-dip

Mon, 16 Aug 2010 16:06:27 +0100

The economy may be heading for a double-dip recession, with fiscal and monetary policies unlikely to spur recovery for the UK, according to the latest Business Trends report by accountants and business advisors BDO LLP.

More than 250,000 use forecourt finance for car purchases this year

Mon, 16 Aug 2010 15:14:47 +0100

In the first six months of 2010, more people used dealer finance than personal loans or savings to make a new car purchase. New figures show that 264,377 people used forecourt finance to buy a new car, which was 49.4% of all new cars sold to consumers. The number of new cars bought on finance was up 26% in the first half of 2010.

CIFS introduces new collections service

Mon, 16 Aug 2010 15:02:24 +0100

Lloyd’s credit insurer, Credit Indemnity & Financial Services, has introduced a new Integrated Collections Service designed to provide policyholders with certainty that outstanding overdue debts will be speedily paid under their policy.

Veri-check selects Equifax to help landlords with tenant verification & credit checking

Mon, 16 Aug 2010 14:56:02 +0100

Veri-Check, the background check and public information provider has selected leading consumer credit and business information expert, Equifax, for its new online Tenant Verification service. Through Veri-Check, landlords and rental agents will be able to check the identity of potential tenants using Equifax consumer data before signing any rental agreements.

The Internal Betrayal: CIFAS releases Special Report into Staff Fraud

Mon, 16 Aug 2010 12:55:12 +0100

CIFAS – the UK’s Fraud Prevention Service, in collaboration with a number of private and public sector bodies and experts, has released a report entitled The Internal Betrayal looking at Staff (or Insider) Fraud and how organisations can combat the threat. The Internal Betrayal combines research, statistics, case studies, analysis and opinion pieces on a range of issues surrounding the problem of staff fraud and the methods that can be used to prevent it from causing financial, reput ...

Lowell staff complete three peaks charity challenge

Mon, 16 Aug 2010 12:48:45 +0100

A team of 20 staff from Leeds-based Lowell Group has raised nearly £2,000 for the charity Child Poverty Action Group after taking on the gruelling Yorkshire three-peak challenge.

Strong German export performance holds important lessons for the UK

Fri, 13 Aug 2010 19:03:59 +0100

Commenting on today’s GDP figures for Germany and other eurozone economies, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Beating the Banks â A new way for Lenders and Savers to make Inflation beating Returns

Fri, 13 Aug 2010 18:55:35 +0100

YES-secure.com offers lenders a secure peer to peer borrowing and lending marketplace to garner healthier inflation beating returns on their investment compared to the traditional investment vehicles offered by banks and other institutions.

Target Group appoints new Head of Customer Operations

Fri, 13 Aug 2010 18:48:47 +0100

Leading financial software and servicing company, Target Group, has appointed Neil Andrews as Head of Customer Operations, to further drive delivery of exceptional value and service for the clients of its business process outsourcing division.

LDL named as a finalist at the IRRV Awards

Fri, 13 Aug 2010 17:32:43 +0100

The Revenues Service, run on behalf of Liverpool City Council by Liverpool Direct Limited (LDL), has been selected as a finalist for ‘Team of the Year’ at this year’s Institute of Revenues, Rating and Valuation (IRRV) 2010 Performance Awards.

Crown Mortgage Management comment on CML arrears and possessions figures

Thu, 12 Aug 2010 15:05:50 +0100

Eric Stoclet, managing director of Crown Mortgage Management, commented on the latest CML arrears and possessions figures:

Debt charity warns of rise in repossessions

Thu, 12 Aug 2010 13:38:16 +0100

National debt charity Consumer Credit Counselling Service (CCCS) welcomes the fall in repossessions in the UK for the second quarter of 2010 that was announced today by the Council of Mortgage Lenders. However, CCCS is warning that a rise in repossessions is likely over the next year.

Repossessions see continued decline

Thu, 12 Aug 2010 13:33:52 +0100

Figures published today by the Council of Mortgage Lenders (CML) show that the number of repossessions in the second quarter of this year reached 9,400 – down 4% from 9,800 in the first quarter and down from 11,800 on the corresponding quarter of 2009.

OFT refuses to licence debt advice firm

Thu, 12 Aug 2010 13:29:55 +0100

The OFT has refused to grant a consumer credit licence to a sole trader, Stewart Richard Wilson, because of his failure to demonstrate he had the required competencies to run a debt advice business.

CML reports second quarter buy-to-let results

Thu, 12 Aug 2010 13:18:44 +0100

The freezing up of the buy-to-let mortgage market that emerged as an unwelcome side-effect of the credit crunch appears to have eased a little, according to the latest buy-to-let survey results from the Council of Mortgage Lenders (CML).

Second-charge mortgage lenders repossess 50% fewer properties

Thu, 12 Aug 2010 12:55:22 +0100

Repossessions for second-charge mortgages were halved in the second quarter of 2010, compared with Q2 2009 according to latest figures from the Finance & Leasing Association (FLA).

CML reports decline in arrears and repossessions

Thu, 12 Aug 2010 12:48:48 +0100

The number of properties taken into possession by first-charge mortgage lenders continued to fall in the second quarter of 2010, according to the latest data from the Council of Mortgage Lenders (CML). There were 9,400 repossessions (down from 9,800 in the first quarter and 11,800 in the second quarter of 2009).

The South West Finance Directors Forum

Wed, 11 Aug 2010 18:26:50 +0100

You are invited to join senior finance professionals from across the region at the South West Finance Directors Forum at Alveston House Hotel, Thornbury, Bristol, BS35 2LA on Tuesday 7th September 2010 from 12pm-2pm.

41st Parameter Teams With Horus Fraud Prevention Solutions to Establish Local Presence in S America

Wed, 11 Aug 2010 18:17:16 +0100

41st Parameter Inc., the leading provider of person-not-present cross-channel fraud prevention solutions, today announced it has signed Sao Paulo-based Horus Fraud Prevention as the exclusive reseller of 41st Parameter's FraudNet suite of solutions for Brazil with the right to also market and deploy 41st Parameter products throughout South America.

Atlantic Financial Management suggests debt solutions to help the Duchess of York

Wed, 11 Aug 2010 18:11:18 +0100

It has been reported that the Duchess of York is facing the very real prospect of bankruptcy as she continues to struggle with her financial difficulties. Leading debt solutions expert, Atlantic Financial Management, has some useful advice for the Duchess as she considers her options.

Euler Hermes appoints new commercial director for UK and Ireland

Wed, 11 Aug 2010 18:02:00 +0100

Euler Hermes UK, the UK’s leading credit insurer, has appointed Iain Bell as Commercial Director for the UK and Ireland. He succeeds James Daly who has been promoted to Commercial Director for Northern Europe.

Lax security and payment complexity leaving small firms stung by credit card fraud

Wed, 11 Aug 2010 17:55:40 +0100

Insufficient security checks and the complexity involved in taking online payments are leaving small firms exposed to payment processing fraud, the Forum of Private Business (FPB) is warning.

PPR Q2 âdistress indexâ confirms housing market mood swing

Wed, 11 Aug 2010 17:49:56 +0100

Property Portfolio Rescue (PPR), the UK-based residential property landlord, has today published the results of its quarterly Distress Index. The Distress Index uses data on the latest PPR enquiries from distressed sellers to forecast future mortgage possessions, company liquidations and UK unemployment.

Bibby Financial Services comments on insolvency figures

Wed, 11 Aug 2010 17:45:00 +0100

With the news that in Q2 2010, the number of company insolvencies in England and Wales decreased by 19.1 per cent year on year, but has increased by 0.5 per cent compared to the first quarter of 2010, Edward Rimmer, UK chief executive of Bibby Financial Services, says:

Government Needs Open Mind on Tackling Benefit Cheats

Wed, 11 Aug 2010 17:39:05 +0100

Responding to the announcement about tackling fraud in the public sector, Peter Hurst, Chief Executive of CIFAS, the not-for-profit UK’s Fraud Prevention Service comments, “I am delighted that at long last government is looking at how to prevent fraud rather than simply investigating it once it’s already happened. CIFAS, which is a not-for-profit organisation dedicated to sharing information about known fraudsters, is very keen to work closely with government to help stamp out ...

Callcredit Information Group Announces New Telecoms Division

Wed, 11 Aug 2010 17:30:16 +0100

Callcredit Information Group has today announced that it is expanding its focus into the telecoms sector, drawing on the company’s expertise from retail and financial services to bring credit referencing and marketing services to the telecoms market. As part of the company’s strategy to grow and evolve its telecoms portfolio, it has created a dedicated Telecoms Business Development team which will be headed up by James Blake as Sector Head.

Fixed rate mortgages gained popularity in June

Wed, 11 Aug 2010 17:26:38 +0100

According to new data from the Council of Mortgage Lenders (CML), 48% of new borrowers took out a fixed rate mortgage in June, the highest proportion so far in 2010. Fixed rates had proved unpopular this year compared to the last several years due to an historic low bank rate with little prospect of the rate rising. But with fixed rate prices falling they are starting to find favour again.

Local authorities able to sell renewable energy to the National Grid

Tue, 10 Aug 2010 17:31:24 +0100

Speaking in response to the announcement yesterday by Chris Huhne, Secretary of State for Energy and Climate Change, that from next week local authorities will be able to sell renewable energy to the National Grid, Ed Mayo, Secretary General of Co-operatives UK, who co-authored discussion paper – A new energy infrastructure – in November 2009, which called for this step as part of a wider move towards community level energy, said:

Equifax credit reference data is helping to tackle benefit fraud

Tue, 10 Aug 2010 17:26:18 +0100

Prime Minister, David Cameron is reported to be talking today about cracking down on benefit cheats, using a combination of tactics including credit reference agency data. Equifax is one of the UK’s leading credit reference agencies and is already working with several major Government departments and local authorities to help identify benefit fraudsters.

Comment from Callcredit Information Group on benefit fraud

Tue, 10 Aug 2010 17:20:59 +0100

In light of today’s news that David Cameron wants credit ratings firms to take a bigger role in tackling the £5.2bn annual cost of benefit cheats and overpayments, please see below comment from John Cannon, Head of Product Strategy, Callcredit Information Group (CIG).

Co-operatives UK press statement - A co-operative BBC

Tue, 10 Aug 2010 17:08:02 +0100

Speaking in response to the news that Labour leadership candidate David Miliband and former culture secretary Tessa Jowell are calling for the BBC to be transformed into a co-operative, Ed Mayo, Secretary General of Co-operatives UK, said:

SAS a leader in operational risk management and GRC report

Tue, 10 Aug 2010 17:02:23 +0100

SAS, the leader in business analytics software and services, remains a leader in Chartis Research’s Operational Risk & GRC Software Solutions 2010 report. Since 2005, Chartis has recognised SAS® OpRisk Management for “completeness of offering” and “market-share potential.” Chartis, which has added the converging governance, risk and compliance(GRC) market, also rated the recently announced SAS Enterprise GRC.

FSA confirms measures to reform PPI market and protect consumers

Tue, 10 Aug 2010 16:55:57 +0100

The Financial Services Authority (FSA) today published a policy statement confirming its package of measures to protect consumers in the Payment Protection Insurance (PPI) market.

Â£1bn of savings can be delivered through better fraud detection in the public sector

Tue, 10 Aug 2010 16:52:05 +0100

Over £1 billion paid out in fraudulent benefit claims and social housing provision could be eradicated quickly if simple, cost-effective and proven fraud prevention techniques were implemented more widely across the public sector.

Comment from Fairpoint Group on Q210 insolvency stats

Mon, 09 Aug 2010 19:28:18 +0100

As you may have seen, the insolvency statistics for the second quarter of 2010 have been released today (stats attached). The report showed that individual insolvencies have risen by 5% compared to the corresponding period last year, with the number of individual voluntary arrangements (IVAs) increasing by 10.2%.

Co-operatives UK press statement - Co-operative pubs

Mon, 09 Aug 2010 19:25:20 +0100

Speaking in response to the news reported in The Sunday Telegraph - that a £3.3 million fund set up by the Department for Communities and Local Government to help stem the closure of local pubs has been closed down before a penny was paid out – Ed Mayo, Secretary General of Co-operatives UK, said:

Businesses see rise in debt from overseas customers

Mon, 09 Aug 2010 19:18:12 +0100

Businesses in the UK are falling victim to late payers overseas according to Lovetts Plc, one of the UK’s leading commercial debt recovery law firms. Since July 2009, Lovetts has seen a 19% increase in demand for overseas letters before action as businesses suffered a sharp rise in overseas customers defaulting on due payments.

Experian signs global data integration deal with HSBC

Mon, 09 Aug 2010 19:12:32 +0100

Experian®, the global information services company, today announced an enterprise deal with HSBC to help integrate the bank’s access to external data sources around the world.

One in three Brits opt for budget holiday this year

Mon, 09 Aug 2010 19:10:00 +0100

More than a third of Brits (38%) are spending less on their holidays this year and a quarter aren’t having a holiday at all, according to new research by insolvency trade body R3.

Debt levels could be âtip of the icebergâ, warns The Debt Advisor

Mon, 09 Aug 2010 19:02:58 +0100

Legion Group plc â The UKâs longest established provider of security services is sold

Fri, 06 Aug 2010 16:44:16 +0100

Paul Williams, John Whitfield and Paul Clark of MCR have successfully completed the sale of the UK’s longest established provider of security services, Legion Group plc to the leading support services provider OCS Group UK Limited.

Q2 2010 insolvency figures up 5% on Q2 2009

Fri, 06 Aug 2010 16:08:32 +0100

Personal insolvency figures out this week are expected to show a static, if not slightly reduced, position in comparison to the record figures announced last quarter. Having said that, those figures will still be substantial and the question for creditors remains how they get their money back.

MIL Collections expands

Fri, 06 Aug 2010 15:34:19 +0100

MIL Collections the specialist's in the recovery of aged Commercial & Consumer Debt Portfolios have expanded into new offices.

Reaction to Insolvency Service Q2 personal and corporate insolvency figures

Fri, 06 Aug 2010 11:32:19 +0100

Steven Law, President of R3, the insolvency trade body, comments on today’s Q2 statistics from the Insolvency Service.

Debt levels are 'tip of the iceberg'

Fri, 06 Aug 2010 11:10:00 +0100

Figures published today by the Insolvency Service show the number of personal insolvencies in England and Wales reaching 34,743 in the second quarter of 2010 - a decrease of 2.6% on the previous quarter but an increase of 5.0% on the corresponding quarter a year ago. The figures consisted of 13,466 Individual Voluntary Arrangements (IVAs), an increase of 10.2% on the corresponding quarter in 2009, 14,982 bankruptcies, representing a decrease of 20.6% on the corresponding quarter of 2009 and 6,29 ...

Take Home Pay Index increases to 0.8% but is dwarfed by 3.2% inflation

Fri, 06 Aug 2010 11:06:19 +0100

The VocaLink Take Home Pay Index has edged up again in July by 0.2 percentage points to reach 0.8 per cent, but is falling well short of inflation rates. According to the consumer price index, the annual rate of inflation reached 3.2 per cent in June which is four times higher than the growth in take home pay. This continued gap between take home pay and inflation is eroding real disposable income as the cost of essential spending increases at a greater pace than growth in pay.

ICM says focus should be on late payment, not bank lending

Fri, 06 Aug 2010 11:00:21 +0100

Whilst the storm mounts over whether or not the banks are lending to SMEs, recently fuelled further by bumper profits announcements, the Institute of Credit Management (ICM) is calling on businesses to ensure they are doing all they can to keep cash flowing.

Creditsafe launches ratings commentary

Fri, 06 Aug 2010 10:55:18 +0100

Creditsafe, the business intelligence experts, have announced the launch of a brand new commentary feature within its Credit Solutions company reporting tool to make readers immediately aware of key information that could affect their dealings with a business.

Azule Finance helps Movietech scale-up its high-end drama proposition

Fri, 06 Aug 2010 10:53:21 +0100

Rental firm Movietech today announced plans to further upscale its high end camera portfolio with the addition of five ARRI Alexa cameras, financed through media and broadcast leasing specialists, Azule Finance. Movietech received one of the UK’s first ARRI Alexa’s and due to high demand turned to Azule Finance for a quick and competitive leasing solution that ensured they would be among the first UK rental agencies to take delivery of the new cameras, which are currently in high dem ...

Atradius response to Q2 insolvency statistics

Fri, 06 Aug 2010 10:51:08 +0100

Marc Henstridge, Head of Risk,Atradius UK & Ireland said: “Though up slightly on the previous quarter – possibly due to the post Christmas trading boost inflating figures for Q1, and a subsequent lull in Q2 as confidence dipped around the general election - the general downward trend in company insolvencies, down 19.1% on the same period last year, is encouraging.

New red tape rules must be backed by real culture change, says business group

Fri, 06 Aug 2010 10:37:15 +0100

The Forum of Private Business is welcoming the Government’s announcement that a ‘one-in, one-out’ regulatory system will be introduced on 1 September 2010 in order to stem the growing burden of red tape on small firms.

Emerge from global recession, increase information, and reduce your manual intervention

Fri, 06 Aug 2010 10:34:27 +0100

The recent global recession has produced a turbulent economic environment, affecting individuals and corporations in equal measure.

Coventry reduces rates by up to 0.24% on fixed rate mortgages

Fri, 06 Aug 2010 10:29:31 +0100

Coventry has today reduced their rates on two fixed rate mortgage deals. These include a reduced rate of 3.05% previously priced at 3.15% for 2 years and 3.99% reduced to 3.75% for 3 years.

The Human Cost of Fraud - What Can People Do To Protect Themselves?

Fri, 06 Aug 2010 10:22:24 +0100

The University of Portsmouth, along with chartered accountants and business advisers MacIntyre Hudson LLP, have released research into the impactand affect fraud has on its victims. ...

Recovery for creditors becomes more challenging as burden on Insolvency Service continues to grow

Wed, 04 Aug 2010 22:45:29 +0100

Personal insolvency figures out this week are expected to show a static, if not slightly reduced, position in comparison to the record figures announced last quarter.

New management appointments in Sales and Collections at Lowell Group

Wed, 04 Aug 2010 22:26:38 +0100

Leeds-based Lowell Group, widely acknowledged as the UK’s leading debt purchasing company, has recruited two new highly experienced managers to further strengthen its senior management team.

Real estate and construction had the toughest journey through the recession

Wed, 04 Aug 2010 21:22:15 +0100

Exclusive research by R3, the insolvency body, has tracked each sector through the recession and found the largest number of insolvencies were in the real estate, renting and business activities sector. With over 12,000 (12,050) insolvencies, this is nearly double that of the second most affected sector - construction, at 7,184. Wholesale and retail are third with 6,077 and manufacturing fourth with 4,664 – all measured from the second quarter 2008 to the end of the fourth quarter 2009. ...

FSA confirms Stroud & Swindon Building Society merger with the Coventry Building Society

Tue, 03 Aug 2010 17:43:27 +0100

The Financial Services Authority (FSA) has announced that it has confirmed the proposed transfer of the engagements of the Stroud & Swindon Building Society to the Coventry Building Society.

New CCCS Chairman announced

Tue, 03 Aug 2010 17:39:00 +0100

Lord Stevenson is to be the next chairman of the Foundation for Credit Counselling, the charity which runs the Consumer Credit Counselling Service (CCCS) in the UK.

Conister Finance & Leasing Limited Strengthens UK Sales Team

Tue, 03 Aug 2010 17:35:56 +0100

Conister Finance and Leasing is delighted to announce the appointment of two new members to its UK team.

ICM offers helping hand to Notts businesses on cashflow management

Tue, 03 Aug 2010 17:32:27 +0100

Experts from the world of credit management will be on hand to give best advice to local businesses on how to manage their cashflow when the latest Institute of Credit Management (ICM) Roadshow rolls into town and specifically Norwood Park Country House in Southwell, Nottinghamshire.

New Safe website goes live

Tue, 03 Aug 2010 17:24:28 +0100

Market leading software and services provider Safe Computing has launched their new, dedicated credit control products and services website.

CCUA Enforcement meeting to be continued at Conference

Tue, 03 Aug 2010 17:09:57 +0100

The Civil Court Users Association conference on 28th September at the Leicester Marriott will continue the meeting that took place in July at the Ministry of Justice when a limited number of members attended to consider effective enforcement of judgments.

Noble Systems Sponsors South West Contact Centre Customer Service Award

Tue, 03 Aug 2010 17:06:17 +0100

Noble Systems, a global leader in innovative contact centre technology solutions, has recently supported the second annual South West Contact Centre Awards.

All in Property calls for Contractor Code of Conduct to support MMR

Tue, 03 Aug 2010 17:02:39 +0100

All in Property, the UK’s largest independent contractor firm has called for code of conduct for contractors to support proposals contained within the new Mortgage Market Review (MMR).

SAV Credit completes senior management team for growth

Tue, 03 Aug 2010 16:58:13 +0100

SAV Credit Limited, the UK’s leading specialist credit card provider, has appointed Brian Loehr as Managing Director to spearhead its focus on best-practice credit risk management and modelling techniques.

Landlords increasingly uncertain about BTL market outlook

Tue, 03 Aug 2010 16:54:03 +0100

Specialist lender, CHL Mortgages, has today revealed the results of its second survey of landlord customers with landlords slightly less positive about the outlook for the buy-to-let market in the UK than six months ago.

SMEs act to preserve cashflow as risk of double dip continues

Mon, 02 Aug 2010 18:22:10 +0100

Growing numbers of SMEs in the UK are turning to alternative sources of funding in order to preserve cashflow in the event of a double dip recession, according to specialist business financier, Absolute Invoice Finance (“Absolute”).

HSBC focuses on customer retention & growth with Equifax

Mon, 02 Aug 2010 18:18:23 +0100

HSBC, one of the world’s major banking groups, has signed a new services contract with leading consumer risk expert, Equifax.

Cabot Financial awarded Bronze status by Investors in People

Mon, 02 Aug 2010 18:14:14 +0100

Cabot Financial, a market leader in debt purchase, has been accredited with Bronze status by Investors in People in recognition of the positive way in which they have harnessed the skills of their employees in working towards and achieving the company’s goals.

Over 2 million holidaymakers in debt over holiday

Mon, 02 Aug 2010 18:10:21 +0100

According to new figures published by R3, the insolvency trade body, over 2 million (2,329,500) holidaymakers have had to borrow on average more than £1000 (£1,130) and will spend seven months paying it back.

DBSG to host networking event for sellers

Mon, 02 Aug 2010 18:06:56 +0100

The Debt Buyers and Sellers Group (DBSG) is to host a dedicated sellers’ networking event as part of this year’s Annual Conference next month.

Tracesmartâs New Arrival Set to Optimise Collections Tracing

Mon, 02 Aug 2010 00:00:01 +0100

Tracesmart Corporate, one of the UK’s leading data specialists, have announced that the wait for their highly anticipated new online tracing product – TraceIQ – is nearly over. The brain child of leading tracing experts and IT specialists, TraceIQ is set to become the most advanced online tracing tool available.

Banking figures confirm decline of small business lending

Fri, 30 Jul 2010 15:11:15 +0100

The Forum of Private Business is responding to the latest figures from the British Bankers’ Association (BBA), which show that lending to the UK’s small firms is in decline.

VocaLink provides Metro Bank with ATM Managed Services and Service Bureau connectivity

Fri, 30 Jul 2010 12:06:40 +0100

VocaLink, the international specialist payments partner, has announced it is providing Metro Bank, the first new full service high street bank to enter the UK market in over one hundred years, with a one stop shop solution for all its payment needs. Metro Bank has outsourced the management of its ATM estate, domestic and international payments and debit card processing to VocaLink. Metro Bank opened its first branch on 29 July 2010 in London.

Forum voices opposition to âcripplingâ retirement age plans

Fri, 30 Jul 2010 12:05:06 +0100

A small business support group has hit out at plans to abolish the default retirement age.

Do you really know who your Facebook friends are?

Fri, 30 Jul 2010 12:03:46 +0100

The risk of personal details being spread across the net from Facebook has been highlighted by two pieces of research released in the last 24 hours. Ron Bowes, a security consultant, used a piece of code to scan the profiles of more than 100 million Facebook users, collecting data not hidden by privacy settings, and published it on the net. And whilst Facebook claims the data is already public information, new research from ID fraud expert, Equifax, suggests that the profiles could b ...

LPC Law join CML

Fri, 30 Jul 2010 12:02:07 +0100

Advocacy lawyers, LPC Law, have joined the Council of Mortgage Lenders (CML) as an associate member.

Solution for call recording & PCI DSS

Fri, 30 Jul 2010 12:00:36 +0100

PCI DSS is a set of comprehensive requirements for enhancing payment account data security, developed by the founding payment brands of the PCI Security Standards Council, including American Express, JCB International, MasterCard and Visa to help facilitate the broad adoption of consistent data security measures on a global basis.

CSA Diploma winners celebrate at awards day

Fri, 30 Jul 2010 11:58:44 +0100

The Credit Services Association (CSA) has announced the results of its 2010 Diploma Course, held in partnership with City & Guilds, the UK’s leading awarding body.

Lender enquiries for new systems up 75%

Fri, 30 Jul 2010 11:05:38 +0100

Serious enquiries from mortgage lenders for new systems and software have risen 75% in 2010 according to Phoebus Software, the software house for lenders.

Rise in late payment demands support Cableâs Green Paper

Fri, 30 Jul 2010 11:03:32 +0100

Lovetts Plc, one of the UK’s leading law firms specialising in commercial debt recovery has welcomed the Government’s Green Paper designed to address the lending crisis to small firms. The firm saw late payment demands to secure outstanding debt rise by almost a quarter (24.6%) year on year in the first half of 2010.

CABOT Financial wins West Kent Stop Smoking Service Award

Thu, 29 Jul 2010 17:22:31 +0100

Cabot Financial, market leader in debt purchase, has been recognised for its hard work in setting up a successful stop smoking campaign by winning the Innovation in Workplace Health & Wellbeing 2009-2010 - West Kent Stop Smoking Service Award.

CSA Diploma winners celebrate at awards day

Thu, 29 Jul 2010 17:08:34 +0100

The Credit Services Association (CSA) has announced the results of its 2010 Diploma Course, held in partnership with City & Guilds, the UK's leading awarding body.

CML comments on Bank of England mortgage data

Thu, 29 Jul 2010 16:56:35 +0100

Today’s Bank of England lending data for June confirms that a quiet mortgage market is set to remain into the autumn. The gross lending figure (not seasonally adjusted) was £12.9 billion in the month, a little lower than the CML’s earlier estimate of £13.1 billion. And the number of approvals for both house purchase and remortgaging were lower than in June last year.

Gross lending at mutuals up 19% in June

Thu, 29 Jul 2010 16:50:49 +0100

According to the latest press release from the Building Societies Association (BSA), gross mortgage lending by mutuals was £1,798 million in June, 19% greater than the £1,507 million in May, and 34% higher than the average of £1,345 million over the previous five months. Mortgage approvals worth £1,735 were made in June, an increase of 11% on the £1,559 million in May and the highest level this year.

Lloyds Banking Group announces plans to reduce conveyancing panel

Thu, 29 Jul 2010 16:39:48 +0100

Earlier this week Lloyds Banking Group announced it is to start the process of significantly reducing their panels of solicitors. The lender is to review the criteria for membership of its conveyancing panels and reduce the number of firms it instructs using a ‘risk based’ model that it says will allow it to assess firms individually.

Debt judgments still at historic high in Northern Ireland

Thu, 29 Jul 2010 16:33:22 +0100

The value of debt judgments (CCJs) faced by businesses and consumers in Northern Ireland in the first half of 2010 totalled £12.6m according to figures released today by Registry Trust, the non-profit organisation that collects judgment information from Northern Ireland and other jurisdictions in the British Isles.

FPB voices opposition to âcripplingâ retirement age plans

Thu, 29 Jul 2010 16:27:44 +0100

The new Government this week said it intended to press ahead with the previous administration’s plans to remove an employer’s option to retire staff at the age of 65.

Total UK personal debt UK Debt Statistics - August 2010

Thu, 29 Jul 2010 16:24:14 +0100

UK banks and building societies wrote off £9.6bn of loans to individuals in the last 12 months to end Q1 2010. In Q1 2010 they wrote off £2.13bn (£1.25bn of that was credit card debt). This amounts to a write-off of £23.35m a day.

The Debt Advisor to help HM Forces

Thu, 29 Jul 2010 16:12:53 +0100

Award-winning, Manchester-based debt management company, The Debt Advisor, has partnered with specialist armed forces home-buying adviser, Mortgages4Forces, to offer debt solutions to the military.

Metro Bank joins LINK ATM Network

Thu, 29 Jul 2010 11:43:10 +0100

Metro Bank, Britain’s first new high street bank in over 150 years, has joined the LINK ATM network, giving its customers access to the entire UK cash machine network.

Businesses remain optimistic âdespite limited success for UK firms in Q2â

Wed, 28 Jul 2010 18:23:58 +0100

The confidence of UK businesses continued to improve during Q2 of this year, despite the fact that business turnover has declined since the first quarter of 2010, according to the latest Business Factors Index from Bibby Financial Services.

FSA bans and fines former Northern Rock finance director Â£320,000

Wed, 28 Jul 2010 18:16:49 +0100

The Financial Services Authority has fined David Jones, former finance director (FD) of Northern Rock PLC (NR) £320,000 for misreporting mortgage arrears figures and prohibited him from performing any function in relation to any regulated activity.

Experian launches new property move alert service

Wed, 28 Jul 2010 18:06:40 +0100

Experian®, the global information services company, today announced the launch of a new alert service which will inform banks, lenders, insurers and home services companies when an existing customer puts their property up for sale or rent.

Rating agency: Coface filed for accreditation with the CESR

Wed, 28 Jul 2010 17:58:42 +0100

On the 13th of July Coface filed its accreditation request with the CESR (Committee of European Securities Regulators) as a rating agency specialising in corporates, for its 10 rating agencies in Europe. Coface offers an alternative to the traditional 3 rating agencies, as well as a response to the issues concerning independence and responsibility which currently place the rating agencies at the heart of the actual debate on ratings.

Hitachi Capital (UK) PLC gears up for further growth with new senior management appointments

Wed, 28 Jul 2010 17:49:29 +0100

Hitachi Capital (UK) PLC, one of the UK’s leading finance providers and part of one of the world’s largest corporations, has announced the appointment of Chris Shirai as Chief Executive Officer following the retirement of CEO David Anthony.

Noble Systems Receives â2010 IP Contact Centre Technology Pioneerâ Award

Wed, 28 Jul 2010 17:43:55 +0100

Noble Systems, a global leader in innovative contact centre technology solutions, has received a “2010 IP Contact Centre Technology Pioneer Award” from Technology Marketing Corporation’s (TMC) Customer Interaction Solutions magazine for Noble SIPhony.

Bank of England report acknowledges importance of buyer driven payables

Wed, 28 Jul 2010 10:43:52 +0100

Oxygen Finance, which provides a new procurement and accounts payable operating model, today announced its support for the Supply Chain Finance Working Group (SCFWG) report which champions Buyer Driven Payables Programmes as key to easing funding conditions in UK business.

Hays and ICM partner to deliver enhanced recruitment services

Wed, 28 Jul 2010 10:32:30 +0100

Hays Accountancy & Finance, the leading recruiting expert, has signed an exclusive partnership with the Institute of Credit Management (ICM) to provide members with an enhanced, dedicated recruitment service. Complementing its existing strategic partnership to provide recruitment services outside of ICM’s core scope, as a Corporate Partner Hays will offer members additional priority services.

Equifax warns rogue directors could be on the rise

Wed, 28 Jul 2010 09:54:37 +0100

Leading business information specialist, Equifax, is warning that organisations will need to do more thorough checks on potential customers and suppliers if plans by The Insolvency Service sees a reduction in investigations into rogue directors.

Business Growth Day for Daviker's TouchStar Customers

Wed, 28 Jul 2010 09:49:12 +0100

Daviker has announced that the third edition of their hugely successful TouchStar User Group Conference will be taking place at the Hilton Hotel, Manchester on Thursday, 7th October.

Fall in consumer credit spending reflects economic uncertainty

Wed, 28 Jul 2010 09:40:35 +0100

Many consumers are waiting to see what happens in the wider economy before making credit commitments. This is the implication of the latest consumer credit figures from the Finance & Leasing Association (FLA) . The statistics show that consumers used 8% less credit in the 12 months to May than in the 12 month period to May 2009.

Bibby Financial Services acquires Aston Rothbury Factors

Wed, 28 Jul 2010 09:36:22 +0100

Bibby Financial Services today announced that it has acquired the client portfolio of Aston Rothbury Factors, an independent factoring company based in Brentwood, Essex in the UK.

GCS Recruitment launches Banking & Financial Services division

Wed, 28 Jul 2010 09:30:22 +0100

GCS Recruitment Specialists has formed a new Banking & Financial Services division, led by industry veteran John Kennedy. This is in response to a growing demand for sector specialists, in particular to fill critical roles in the areas of risk, regulation and compliance.

Tougher approach to banks backed by new research showing small firms struggling to access finance

Wed, 28 Jul 2010 09:24:42 +0100

Amid reports that the Government is getting tough with banks for failing to provide affordable lending to small firms, new research from the Forum of Private Business (FPB) shows that access to finance is worsening.

Public sector spending cutbacks expected to trigger a surge in business insolvencies

Tue, 27 Jul 2010 13:26:02 +0100

New research conducted by commercial credit reference agency Graydon UK reveals that four out of five credit managers believe that public sector spending cuts will spark a sharp increase in business insolvencies within the next 12 months.

Seized criminal footage shows importance of shielding your PIN at cash machines

Tue, 27 Jul 2010 13:20:01 +0100

Video footage released yesterday by LINK, the UK’s cash machine network, reveals how criminals can try to get hold of your four-digit PIN when you use an ATM that they have targeted. However, as the seized criminal footage shows, by simply shielding the keypad with your free hand, keys, wallet or purse, you can easily stop a criminal from finding out your PIN.

FLA responds to regulatory reform of financial services

Tue, 27 Jul 2010 13:15:21 +0100

Responding to the Financial Secretary’s announcement on regulatory reform of financial services, Stephen Sklaroff, Director General of the Finance & Leasing Association (FLA), said:

Insolvency Service launches consultation on proposals for a restructuring moratorium

Tue, 27 Jul 2010 13:09:26 +0100

The Insolvency Service has today launched a twelve week consultation on proposals for a new restructuring moratorium. The proposals would provide company directors with the option of obtaining a protected breathing space in which to negotiate with their creditors and reorganise their business affairs, through a new statutory moratorium.

Identity fraud levels continue to rise

Mon, 26 Jul 2010 18:58:08 +0100

An analysis of fraud trends during the first half of 2010 reveals an alarming and continuing surge in identity fraud. The 265 organisations that are Members of CIFAS - The UK's Fraud Prevention Service - report:

Equifax appoints technology solutions director

Mon, 26 Jul 2010 18:53:08 +0100

Leading consumer credit and business risk management and marketing services provider, Equifax, has created a new technology-focused role for its UK business.

Direct Debit Limited launches Bacs-approved HSM for unattended payments submissions

Mon, 26 Jul 2010 18:49:46 +0100

Direct Debit Limited, the Bacs-approved payments-management software provider, today announced the launch of its Hardware Security Module (HSM). The module forms part of the PayCentre multi-payment processing platform, which helps organisations automate and streamline the lifecycle of credit and debit card, Direct Debit and Direct Credit payments processes.

Could a debt management plan help landlords to tackle rent arears?

Mon, 26 Jul 2010 18:46:38 +0100

According to the latest data from the National Landlords Association (NLA), 1 in 5 private-residential landlords have had tenants in arrears over the last three months. Leading debt solutions provider, Atlantic Financial Management, believes that for some landlords it may prove worthwhile suggesting their tenants go on a debt management plan to tackle their debts.

Faster Payments is frontrunner to replace cheques, according to Experian survey

Mon, 26 Jul 2010 18:41:15 +0100

July 2010 marks the first anniversary of Direct Corporate Access (DCA) to the Faster Payments Service (FPS). In light of the announcement made in December 2009 around the close of the central cheque clearing, more corporates are considering whether this relatively new channel can be used to replace the more traditional payment method.

Roger Liddell to retire in 2011

Mon, 26 Jul 2010 18:29:43 +0100

Roger Liddell has informed the Board of his intention to retire from his role as chief executive of LCH.Clearnet Group Limited and its subsidiary company LCH.Clearnet Ltd in July 2011, after five years with the group.

FSA implements new powers granted by Financial Services Act 2010

Fri, 23 Jul 2010 13:51:30 +0100

The document includes new rules and guidance covering the following areas:

European Stress Testing results 5pm today - SAS comment?

Fri, 23 Jul 2010 13:35:51 +0100

With The Committee of European Banking Supervisors set to release the European Stress Testing results today at 5pm London time, Leigh Bates, Head of Financial Services Practice at SAS, comments :

One in ten deals involve distressed businesses

Fri, 23 Jul 2010 13:28:26 +0100

During the first half of 2010 almost one in ten (9.4%) of UK mergers and acquisitions involved distressed businesses. Of the 1491 deals completed in the UK, 141 involved companies acquired out of administration or other formal insolvency procedure, according to research by Experian Corpfin on behalf of insolvency trade body R3. The total value of all distressed deals in the first six months of the year amounted to close to £519m (£518.505m).

âDebt Consolidationâ and âStudent Feesâ most popular loans approved through ...

Fri, 23 Jul 2010 13:18:19 +0100

YES-secure.com, the UK’s first truly social network aimed at peer to peer (person to person) social lending and borrowing, announced that the two most popular unsecured loan categories currently being approved through its web marketplace are “Debt Consolidation” and “Student Fees”.

Firm simplifies collecting overseas payments for hauliers

Thu, 22 Jul 2010 18:17:17 +0100

Cash flow management specialists Octempo RM have embarked on a crusade to help road haulage firms by rolling out their international credit control service.

Oita Bank selects SAS Marketing Automation on Teradata to revitalise business intelligence capacity

Thu, 22 Jul 2010 18:06:23 +0100

Japan-based Oita Bank has selected SAS, the leader in business analytics software and services, and Teradata the world’s largest company solely focused on data warehousing, to help revitalise its business intelligence capabilities.

LG wins role advising Hill Dickinson on Halliwells administration

Thu, 22 Jul 2010 17:57:10 +0100

International business law firm Lawrence Graham LLP (LG) has advised Hill Dickinson on the purchase by way of a pre-pack administration of the Halliwells Liverpool office and part of the Halliwells Sheffield office on 20 July 2010.

Avoid exorbitant overdraft charges with a Credit Union Current Account

Wed, 21 Jul 2010 17:55:56 +0100

News that unauthorised current account overdrafts can result in exorbitant charges (up to 167% APR, on average) might have been a shock to many people – but not to those with a Credit Union Current Account.

Small firms offered free business facilities through Forum membership

Wed, 21 Jul 2010 17:51:42 +0100

The Forum of Private Business (FPB) is providing all its paying members with complimentary Regus businessworld gold cards, which will give them free internet access, refreshments and professional administrative support.

OFT launches consultation on online consumer protection

Wed, 21 Jul 2010 17:47:00 +0100

Protecting UK consumers online is the focus of a long-term strategy launched for consultation by the Office of Fair Trading (OFT) today.

Survey reveals high human cost of debt problems

Wed, 21 Jul 2010 17:40:09 +0100

A survey by leading debt charity Consumer Credit Counselling Service (CCCS) has revealed the high human cost of debt problems. The survey of 372 CCCS clients found that debt problems have a negative impact on people’s close relationships, their health and their ability to carry out their jobs. Alarmingly, 83 percent of those surveyed said that their debt problems had a very negative impact on their lives.

Equifax strengthens marketing solutions team

Wed, 21 Jul 2010 17:35:36 +0100

Leading consumer credit, business and marketing information provider, Equifax, has strengthened its business to business marketing solutions team with the appointment of a Lead Analyst for its B2B Marketing Data.

Balance between cuts and growth must be struck for sustainable economic future â Cable

Tue, 20 Jul 2010 17:39:44 +0100

A plan to foster growth and lock in the recovery will be published today by the Business Secretary Vince Cable when he appears for the first time at the Business, Innovation and Skills Select Committee.

Spending Cuts Herald Fresh Problems for Debt Collectors

Tue, 20 Jul 2010 17:35:23 +0100

The latest budget announcements from the coalition government could trigger fresh difficulties for the debt collection industry, with revenues expected to fall by more than 14%, according to a press release from Euristix relased today.

HSBC chooses Target to manage investment portfolio

Tue, 20 Jul 2010 17:27:07 +0100

HSBC has appointed leading financial outsourcer and software solutions company, Target Group, to manage and service one of its structured investment products’ portfolios.

Crown Mortgage Management comments on plans to cut the Mortgage Rescue Scheme

Tue, 20 Jul 2010 17:23:24 +0100

Eric Stoclet, managing director of Crown Mortgage Management, comments on cuts to the Mortgage Rescue Scheme:

Debt charity comments on Insolvency Serviceâs plan to reduce expenditure

Tue, 20 Jul 2010 17:18:46 +0100

Leading debt charity Consumer Credit Counselling Service (CCCS) has commented on the announcement by the Insolvency Service that it has offered the Department for Business, Innovation and Skills (BIS) a plan to reduce its expenditure.

Only a third of UK firms see exports as their route to growth over the next year

Tue, 20 Jul 2010 17:15:20 +0100

The Government’s hopes that the UK economy will stage an export led recovery risk being dashed as new research reveals that just 34 per cent of UK SMEs view the export market as a route to growth over the next 12 months.

Nostrum appoints Business Development Manager

Tue, 20 Jul 2010 17:08:46 +0100

The Nostrum Group Limited ('Nostrum') has appointed Liz Archer as Business Development Manager at its head office in Harrogate with responsibility for developing both the Business Process Outsourcing (BPO) unit and instalment lending software provider icenet.

GB Group Exclusively Incorporates iovation Device Reputation into Identity Management Services

Tue, 20 Jul 2010 16:58:03 +0100

iovation, provider of the world’s first device reputation service for preventing online fraud and abuse, today announced an exclusive strategic alliance with GB Group (GB), the leading Identity Management business.

Gross mortgage lending up 15% in June

Tue, 20 Jul 2010 16:53:15 +0100

Gross mortgage lending in June was an estimated £13.1 billion, a 15% increase from £11.4 billion in May and a 7% increase from £12.2 billion in June last year, according to new data from the Council of Mortgage Lenders (CML).

R3 Media Statement on Director Disqualification and Insolvency Service resource

Mon, 19 Jul 2010 16:57:09 +0100

Steven Law, the president of R3, the insolvency trade body, has issued a media statement as a result of the Insolvency Service offering the Department of Business Innovation and Skills (BIS) a 'carefully considered plan to meet the 11% cuts agenda'.

Prompt Payment to be duplicated by âfair paymentâ?

Mon, 19 Jul 2010 15:31:43 +0100

Announcement of the Government’s plan for a ‘fair payment’ code, to accelerate payments to sub-contractors on public construction projects, has received a cautious reception from the Institute of Credit Management (ICM) and Bacs Payment Schemes Limited (Bacs), already working in partnership to build awareness of the issue of late payments in the UK, through the Prompt Payment Code.

Insolvency Service offers BIS a carefully considered plan to meet the 11% cuts agenda

Mon, 19 Jul 2010 15:22:07 +0100

Following the Government’s announcement in June about the need to find savings in 2010-11, The Insolvency Service, an Executive Agency of the Department of Business, Innovation and Skills (BIS) has made plans to reduce its expenditure this year.

Experian report outlines recommendations for optimising collections in utilities

Mon, 19 Jul 2010 15:20:06 +0100

Information services company Experian has published new analysis on the UK’s utility industry and advice on how the sector can better adapt their collections strategies to market conditions.

Dukes Bailiffs contract with Stockport Metropolitan Borough Council extended

Mon, 19 Jul 2010 12:48:48 +0100

Dukes Bailiffs Limited, the Staffordshire based business whose Managing Director Colin Naylor is elected chairman of the Association of Civil Enforcement Agencies, has been working successfully with Stockport Council since July 2008 on Council Tax and NDR liability order collection.

Precise Mortgages Cuts Product Fees

Mon, 19 Jul 2010 12:04:56 +0100

Precise Mortgages have slashed the product fee on their exclusive and semi exclusive mortgage products. The fee has been cut from 3% to 1.5% which makes them amongst the most attractive in the BTL market.

Equifax enhances access and user experience for its Debtor Management Solutions

Mon, 19 Jul 2010 11:58:44 +0100

Leading consumer credit information expert, Equifax, has announced two major upgrades to enhance online access to its Debtor Management Solutions.

Money Advice Trust responds to helping over indebted consumers report

Fri, 16 Jul 2010 17:07:53 +0100

Welcoming the publication of the Department for Business, Innovation and Skills response to the Public Accounts Committee report on ‘Helping over-indebted consumers’, Joanna Elson OBE, Chief Executive of the Money Advice Trust (MAT), said:

Royal Mail is still not delivering two years on, says FSB

Fri, 16 Jul 2010 10:12:29 +0100

Royal Mail is still not delivering in its service to small businesses two years on from a review into the postal service.

REC response to latest unemployment figures

Fri, 16 Jul 2010 10:10:29 +0100

Figures released this week by the Office for National Statistics have shown a slight drop in the number of people out of work. Between March and May, the number fell by 34,000 to 2.47 million.

Monetary Policy and Financial Stability Speech by David Miles

Fri, 16 Jul 2010 10:08:40 +0100

In a speech to the Bristol Business Forum, David Miles – an external member of the Bank of England’s Monetary Policy Committee (MPC) – explains his view of the appropriate policy response to the financial crisis.

Spanish formula launched for UK football clubs

Thu, 15 Jul 2010 15:29:05 +0100

The way to improve football in the UK, now the World Cup is over, is to follow the approach of leading Spanish clubs and hand them over to their fans, according to a new report being launched today (15 July) by Co-operatives UK and Supporters Direct.

Redstone Mortgages Limited fined Â£630,000 for unfair treatment of some customers in arrears

Thu, 15 Jul 2010 11:12:14 +0100

The Financial Services Authority (FSA) has today fined Redstone Mortgages Limited (Redstone) £630,000 for poor treatment of some customers facing mortgage arrears.

Positive labour market figures must be supported

Thu, 15 Jul 2010 11:00:56 +0100

Commenting on the labour market figures released today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Coalition Government launches consultation document on Bank Levy

Thu, 15 Jul 2010 10:56:46 +0100

Financial Secretary to the Treasury, Mark Hoban MP, has launched a consultation document on the Bank Levy.

Tinubu Square strengthens its position in Europe with the opening of a new office in London

Thu, 15 Jul 2010 10:48:25 +0100

Tinubu Square, European leader in innovative credit management solutions, is pleased to announce the opening of its new office in London. The London office, in charge of all UK operations, will be managed by Claire Pavillet.

Ten-day public sector payment not being passed along supply chain

Thu, 15 Jul 2010 10:43:26 +0100

A public sector initiative to pay invoices within 10 days is not being passed on by main contractors to smaller suppliers, the Forum of Private Business (FPB) has discovered.

Consumer credit review provides an opportunity to streamline regulation

Wed, 14 Jul 2010 14:56:43 +0100

Responding to the Consumer Affairs Minister’s announcement of a review later this year into the consumer credit market, Finance & Leasing Association (FLA) Director General, Stephen Sklaroff said:

Liberal Democrat MEP Sharon Bowles named as most influential woman in European finance

Wed, 14 Jul 2010 13:29:25 +0100

Liberal Democrat MEP, Sharon Bowles, who represents the South East of England at the European Parliament, has been named as the most influential women in European finance according to a Top 100 list published in the Financial News this week.

Review of consumer credit announced

Wed, 14 Jul 2010 12:41:46 +0100

Consumer Affairs Minister Edward Davey has announced that a review of consumer credit and personal insolvency will be undertaken by the Government.

FSA Chairman calls for debate

Wed, 14 Jul 2010 11:25:55 +0100

The Financial Services Authority (FSA) chairman, Lord Turner, has said there needs to be a fundamental debate in this country, both about how much easy credit should be available in the mortgage market, and how much capital and liquidity banks should be required to hold, without holding back the economic growth necessary for recovery.

Moreton Smith to provide e-Collect365 debt Management Software to Misys plc

Wed, 14 Jul 2010 11:20:32 +0100

Misys plc has announced that it has appointed Moreton Smith to provide their e-Collect365 debt Management Software across their European markets. Misys is a leading multinational software company providing software solutions and services to the financial services and healthcare sectors.

Late Payment Demands Rise But Recessionary Pressures Show Sign Of Easing

Wed, 14 Jul 2010 11:12:42 +0100

Lovetts Plc, one of the UK’s leading law firms specialising in commercial debt recovery, has revealed that late payment demands (LPD) shot up by 24.6% in the first half of the year against 2009. Interestingly however, Lovetts’ figures also show that, compared to last year, late payers are being given nearly a month longer to pay up, before legal action is taken.

More structured financial education needed in secondary schools

Wed, 14 Jul 2010 11:02:49 +0100

Financial education charity, the ifs School of Finance, says that the latest research on mortgages shows the need for more structured financial education at secondary school.

Hitachi Capital Consumer Finance announces record growth

Wed, 14 Jul 2010 10:54:46 +0100

Hitachi Capital Consumer Finance, the UK's leading finance provider of point of sale (POS) credit solutions,has announced a record year for new business, reporting an impressive 53 per cent growth in volume of business for 2009/2010 and is on course to write over £1 billion of new business in the current year.

UK ATMS open to German girocard holders

Wed, 14 Jul 2010 10:38:49 +0100

Holders of German debit cards – known as ‘girocards’ – are now able to withdraw cash from ATMs across the UK. The UK’s LINK ATM network has opened all 63,000 UK cash machines to all users of the German card scheme (more than 92 million) operated by the Zentraler Kreditausschuss (German Banking Community).

Bacs and ICM partnership set to highlight late payments issue

Wed, 14 Jul 2010 10:32:04 +0100

Bacs Payment Schemes Limited (Bacs), the organisation behind Direct Debit and Bacs Direct Credit, has announced a working partnership with the Institute of Credit Management (ICM) to drive further awareness of the Prompt Payment Code and promote the importance of paying on time, across the whole business community.

New management team at Dukes

Wed, 14 Jul 2010 10:27:29 +0100

Dukes Bailiffs has announced details of a management restructure. Colin Naylor, Managing Director of Dukes and chairman of the Association of Civil Enforcement Agencies, has reviewed the current structure of the company to ensure that it continues to meet existing client requirements and also support new business opportunities expected within the next 12 months.

YES-secure successfully approves its first three Social Lending Loans

Wed, 14 Jul 2010 10:22:22 +0100

YES-secure.com, UK’s first truly social networking lending and borrowing web marketplace specifically for consumers in the UK has successfully closed its first THREE social lending loans in its very first month of operations with several more loan requests in the approval pipeline.

FICO Launches Optimisation âStarter Kitâ to Reclaim Card Profitability

Tue, 13 Jul 2010 09:32:09 +0100

FICO, the leading provider of analytics and decision management technology, announced today the general availability of a “starter kit” for credit line optimisation (CLO). This starter kit is bundled with the industry-leading FICO® TRIAD® Customer Manager to help card issuers apply analytic precision to credit line increase strategies.

Movers spend lowest ever average proportion of income on their mortgages

Tue, 13 Jul 2010 09:08:04 +0100

Borrowers moving home in May saw their mortgage interest payments accounting for the lowest proportion of their income in 35 years, according to new data from the Council of Mortgage Lenders (CML).

Credit reports available online for all consumers

Mon, 12 Jul 2010 08:02:40 +0100

Consumers can now access their statutory credit report online for a nominal fee of only £2 from all three major UK credit reference agencies: Experian, Equifax, and Callcredit.

Bad management to blame for nearly 60% of corporate insolvencies

Mon, 12 Jul 2010 07:57:40 +0100

'Incompetence or bad management’ of company directors causes 56% of corporate failures, while nearly 40% of businesses could have been saved if professional advice had been sought earlier, according to a poll of insolvency experts carried out by insolvency trade body R3.

New Task Force to Tackle Money Laundering & Fraud

Fri, 09 Jul 2010 08:19:36 +0100

Callcredit Information Group has teamed up with its existing partner Tait Walker Chartered Accountants and the University of Sunderland’s department of Computing, Engineering and Technology to create new software for tackling specific areas of financial crime, as part of a Knowledge Transfer Partnership (KTP).

Retired struggle with debts

Fri, 09 Jul 2010 08:12:01 +0100

According to new research conducted for Age UK, being able to pay off debts has been the motivation for a third of equity release customers, whilst almost half have put it towards essential house maintenance.

Lowell effort is âoarsome!â

Fri, 09 Jul 2010 08:05:19 +0100

A 17-strong team from Lowell Group captained by IT director John Stewart raised over £1,500 for charity and finished a highly creditable 3rd out of 30 in the third annual Leeds Community Fancy Dress Dragon Boat Races last month.

Court advocates LPC becomes regulated

Fri, 09 Jul 2010 08:00:44 +0100

Nationwide court advocates, Legal Practice Clerks Limited (LPC), are now regulated by the Solicitors Regulation Authority (SRA).

Money Advice Charity chief says homeowners in need of more support than ever

Thu, 08 Jul 2010 17:44:15 +0100

Joanna Elson OBE, Chief Executive of the Money Advice Trust (MAT), today warned that failing to provide free support to homeowners in danger of losing their homes could cost the taxpayer a staggering £16k per home. The majority of this comes from housing benefits associated with re-housing each household in temporary accommodation and the social rented sector.

More than Â£ 7500 raised in The Innovation Software Credit Controllersâ Charity ...

Thu, 08 Jul 2010 13:13:36 +0100

What could be the cause of so much anxious and eager anticipation amongst the Partners at Addleshaw Goddard and Hammonds on Friday 2nd July? The firms’ annual results and PEP announcement?

Survey into European organisations' attitudes towards multichannel communications

Thu, 08 Jul 2010 13:04:21 +0100

Aspect, a global provider of unified communications and collaboration services and software, have announced the results of a survey into European organisations' attitudes towards multichannel communications and the likely impact of Unified Communications (UC) on business performance.

Credit sales can stimulate trade, 'but transparency and trust are essential'

Thu, 08 Jul 2010 12:56:33 +0100

Atradius NV, a leading global credit insurer, has recently launched its white paper ‘The future of trade credit’, the aim of which is to establish the effect that the economic downturn of the past two years will have on companies’ inclination to offer credit terms of sale to their business to business customers, and to recommend actions to ensure that credit remains the engine of successful trade.

Forum uses Freedom of Information Act to expose poorly-paying police forces

Thu, 08 Jul 2010 09:39:45 +0100

A small business support group has submitted Freedom of Information (FoI) Act requests to every police force in the UK in order to find out how quickly they pay their suppliers.

Adeptra advisory round table highlights new era of consultative customer communication

Thu, 08 Jul 2010 09:25:18 +0100

Adeptra, the recognised leader in automated contact and resolution services to companies, announced it has hosted its Summer 2010 Advisory Round Table for UK and European customers.

Seventy percent higher risk of bankruptcy in the North East than in London

Thu, 08 Jul 2010 08:05:08 +0100

R3, the insolvency trade body, has published a ‘bankruptcy map’ revealing the regions and local authorities that have seen the highest proportion of new personal insolvency cases.

VocaLink Take Home Pay Index edges up by just 0.1 percentage points in June

Thu, 08 Jul 2010 08:02:12 +0100

The VocaLink Take Home Pay Index for June witnessed a marginal increase, edging up by 0.1 percentage points from its lowest level ever recorded in May, to reach 0.6 per cent annual growth.

Direct Debit Limited says businesses need to simplify complex credit and debit card processes

Thu, 08 Jul 2010 07:58:22 +0100

Direct Debit Limited, the Bacs-approved payments management software provider will be showcasing its market leading payments platform, PayCentre, on stand G at the Future of Cards and Payments 3rd Annual Conference 2010, 7th - 8th July, in London. In particular, the company will demonstrate its credit and debit card module to delegates.

Begbies Traynor Bolsters Insolvency Offering with Five New Partner Promotions

Thu, 08 Jul 2010 07:53:43 +0100

Begbies Traynor, the UK’s leading business rescue, recovery and restructuring specialist today announces the promotion of five new partners from inside its insolvency practice, as the company continues to develop its national service offering.

Euro MP Sharon Bowles hails victory over bankersÂ´ bonuses and casino banking

Thu, 08 Jul 2010 07:50:49 +0100

Southeast Lib Dem MEP Sharon Bowles, who chairs European Parliament's influential Economic and Monetary Affairs Committee, has hailed the new EU law to rein in bankers´ bonuses a landmark success.

International Co-operative Alliance names Charles Gould as Director-General

Thu, 08 Jul 2010 07:46:35 +0100

Following a search by Global Recruitment Specialists, the Board of the International Co-operative Alliance (ICA) has selected Charles Gould to serve as the organisation’s Director-General.

FICO launches first collection system with built-in analytic adaptation

Thu, 08 Jul 2010 07:38:33 +0100

FICO, the leading provider of analytics and decision management technology, have announced the general availability of FICO® Debt Manager™ solution version 8.0 for collections and recovery. The new release represents a complete redesign of the company’s core collection system, with new analytic and adaptive capabilities designed to help lenders accelerate collections and reduce operating costs.

FSA announcement of new rules to protect vulnerable customers in arrears

Mon, 05 Jul 2010 17:11:09 +0100

Neil Smith, Associate Solicitor, Optima Legal, comments on the Financial Services Association (FSA) announcement of new rules to protect vulnerable customers in arrears on their mortgages or entering sale and rent back.

Five banned, and one fined Â£130,000 and banned, as FSA continues crack down on mortgage fraud

Mon, 05 Jul 2010 17:02:12 +0100

The Financial Services Authority (FSA) has banned six individuals, and fined one of them over £130,000, for failings in relation to mortgage fraud.

Avoid spiralling debt with summer saving tips

Mon, 05 Jul 2010 16:58:49 +0100

As the UK prepares for the school summer holiday season amidst unpredictable volcanic ash, the Greek financial crisis and Spanish economic problems, holidaymakers are being urged to enjoy a UK staycation, to save hard earned cash and avoid spiralling debt at the end of the summer.

The recession has driven greater take-up of automated monthly payments

Mon, 05 Jul 2010 16:50:20 +0100

A strategic partnership between pioneering developer of electronic payments and collections software solutions, Albany Software and Direct Debit training consultancy - Direct Debit Training Limited, couldn’t have been better timed as the recession has driven greater take-up of automated monthly payments. The Green Bus and Exeter Friendly Society are among those to take full advantage.

Yorkshire credit expert joins industry advisory council

Mon, 05 Jul 2010 16:43:29 +0100

Divisional director at P&A Receivables Plc, Laurie Beagle, has been elected to the Advisory Council of the Institute of Credit Management (ICM) to represent the credit services sector.

The Debt Advisor joins the club

Mon, 05 Jul 2010 16:37:26 +0100

Award-winning, Manchester-based debt management company, The Debt Advisor, has joined Mortgage Brain’s Affinity Club.

Burdensome regulation âcould lead to smaller, more polarised credit marketâ

Thu, 01 Jul 2010 16:37:26 +0100

When considering any new regulation for consumer credit, the Government should take care to avoid unintended and potentially damaging consequences for lenders and their customers, Stephen Sklaroff, Director General of the Finance & Leasing Association (FLA) will tell delegates at the FLA Consumer Finance Conference today.

Minister sets out Government support for credit unions and mutuals

Thu, 01 Jul 2010 16:26:27 +0100

Financial Secretary to the Treasury, Mark Hoban MP, yesterday confirmed the new Coalition Government’s commitment to credit unions and mutuals at a House of Commons reception organised by the All-Party Parliamentary Group on Credit Unions.

New menace to the UK Debt Collection Agencies industry â Zombie companies

Thu, 01 Jul 2010 16:18:13 +0100

There are now 50 companies in the UK Debt Collection Agencies industry that are “Zombie” businesses. These companies have seen their performance deteriorate to such as extent that they now exist merely to pay off their debts and survive.

Coventry Building Society works with local schools to promote financial literacy

Thu, 01 Jul 2010 16:09:18 +0100

Today Coventry Building Society has been working with the students of Stoke Park School and Community College as part of PFEG’s My Money Week (See notes to editors). Staff from the society are running financial literacy sessions with Year 10 students to improve their understanding of simple money management and the difference between financial products.

Publication of the Finance Bill 2010

Thu, 01 Jul 2010 15:59:49 +0100

The Government is today publishing the 2010 Finance Bill. The Bill will enact the key tax measures at the heart of the Emergency Budget package, to cut the unprecedented deficit, deliver fairness and promote enterprise.

New product exclusives from Precise Mortgages

Thu, 01 Jul 2010 15:54:44 +0100

Precise Mortgages has enhanced its product range by launching two new exclusive Buy to Let Products. Legal & General Mortgage Club ARs, and select DA members will benefit from a 4.99% Lifetime Tracker, whilst Mortgage Intelligence, Mortgage Next AR and select DA members have access to a 4.95% 2 Year Tracker, both products at 75% LTV.

Fredrickson International Collects Half a Billion Pounds!

Thu, 01 Jul 2010 15:47:47 +0100

Fredrickson International surpassed the £500m (five hundred millions) in recoveries on the 23rd June 2010.

OFT revokes credit licence of Middlesbrough businessman

Thu, 01 Jul 2010 15:38:15 +0100

The Office of Fair Trading (OFT) has revoked the credit licence of Middlesbrough-based businessman Peter Hall, preventing him from carrying out consumer credit activities such as lending money, arranging credit or collecting debts.

Countdown begins. One year to go until guaranteeing a cheque with a card becomes a thing of the past

Wed, 30 Jun 2010 16:57:22 +0100

The year-long countdown starts today (30th June 2010) to the closure of the UK Domestic Cheque Guarantee Card Scheme. This means that after 30th June 2011, it will no longer be possible to guarantee a cheque using a plastic card. To help businesses and consumers, the Scheme has today published two fact sheets available from www.ukpayments.org.uk.

FSA finally showing its teeth, says lender law specialist

Wed, 30 Jun 2010 16:37:17 +0100

The FSA has finally shown its teeth by announcing new rules to protect vulnerable customers, according to a lender legal specialist.

ECR Retail Systems provides Big Bus Tours with a chip and pin ticket to ride

Wed, 30 Jun 2010 16:30:51 +0100

ECR Retail Systems, supplier of mobile point of sale (MPoS) technologies, is providing Big Bus Tours with a world first: mobile, chip and pin enabled, hand held terminals that can be used by its mobile sales team to sell tickets to customers.

Baines and Ernst sign exclusive deal with IncomeMAX

Wed, 30 Jun 2010 16:19:56 +0100

Baines and Ernst, one of the UK’s largest providers of debt solutions, has partnered with the entitlement and benefit check experts IncomeMAX to provide free welfare benefits checks to their customers.

New appointment at ACT Credit Management

Wed, 30 Jun 2010 13:58:27 +0100

ACT Credit Management Limited has secured the appointment of Mark Firth as their new Head of Sales.

BSA comments on OFT response to cash ISA super-complaint

Tue, 29 Jun 2010 15:56:06 +0100

Commenting today on the Office of Fair Trading's (OFT) formal response to the Consumer Focus super-complaint on cash ISAs, Adrian Coles, Building Societies Association director-general, said:

Â£1 billion fund to help regional business

Tue, 29 Jun 2010 15:49:56 +0100

Deputy Prime Minister Nick Clegg today launched a £1 billion Regional Growth Fund to help areas and communities at risk of being particularly affected by public spending cuts.

Mortgage lending by mutuals picks up in May

Tue, 29 Jun 2010 15:45:28 +0100

Gross mortgage lending by mutual lenders in May was £1,508 million, 8% greater than the £1,399 million lent in April. Mortgage loans approved (but not yet made) in May were £1,571 million, similar to the £1,527 million approved in April, according to figures just released by the Building Societies Association (BSA).

Exact goes live with Phoebus Software

Tue, 29 Jun 2010 15:33:38 +0100

Phoebus Software is supplying the IT servicing platform and related interfaces for Exact Mortgage Experts.

Modest pick-up in UK Financial Services Activity â CBI/PwC

Mon, 28 Jun 2010 16:44:55 +0100

Activity in UK financial services grew in the last three months at the fastest rate since September 2007. But this growth was much lower than expected and firms still considered levels of business to be well below normal, a new survey reveals today (Monday).

LaSer UK reports strong growth, creates new employment and sets billion pound target for 2010

Mon, 28 Jun 2010 16:20:20 +0100

LaSer UK, the Solihull-based credit and loyalty business, has reported strong growth in 2009 and is confident of becoming a billion pound business in 2010.

Bibby Financial Services urges UK importers to prepare now for Christmas orders

Mon, 28 Jun 2010 16:09:34 +0100

The summer may have only just begun, but specialist international trade finance provider Bibby Financial Services is calling on import business owners and managers to consider their inventory and ensure sufficient finances are in place to fulfil orders in advance of the festive season.

Computer giant Dell entered into late payment Hall of Shame

Mon, 28 Jun 2010 16:04:39 +0100

The Forum of Private Business (FPB) is entering Dell into its late payment Hall of Shame after the company extended the time it takes to pay suppliers by 15 days.

Co-operative sector nudges Â£34 billion

Mon, 28 Jun 2010 15:59:27 +0100

Latest figures from Co-operatives UK reveal that co-operative businesses in the UK have pushed up their combined turnover by some 15.8% to almost £34 billion – during the same period UK GDP decreased by 4.9%.

Manchester Expansion for MCR

Mon, 28 Jun 2010 15:55:06 +0100

MCR is delighted to announce the relocation of its Manchester office as a result of sustained expansion in its business.

OFT recommends reform of corporate insolvency regime

Fri, 25 Jun 2010 17:47:16 +0100

The OFT has recommended far-reaching reforms of the corporate insolvency regulatory regime to build trust in the market and ensure that it works in the best interests of creditors and the wider economy.

Debt advice to soar following bloodbath budget

Fri, 25 Jun 2010 17:35:35 +0100

One of the UK’s leading providers of consumer debt advice is receiving record numbers of calls from those facing financial difficulty as a result of the ‘bloodbath’ budget.

Shoosmiths appoints new head of collections

Fri, 25 Jun 2010 17:26:34 +0100

Shoosmiths has appointed a new head of collections and portfolio management.

CML Urges Treasury to grasp opportunity to improve building society prospects

Fri, 25 Jun 2010 17:21:12 +0100

The Council of Mortgage Lenders has responded to the Treasury discussion paper "Building society capital and related issues", urging the government to consider capital issues alongside regulatory and funding issues, to allow building societies to play their full role in the restoration of a healthy and competitive mortgage market.

LaSer UK reports strong growth, creates new employment and sets billion pound target for 2010

Fri, 25 Jun 2010 17:12:05 +0100

LaSer UK, the Solihull-based credit and loyalty business, has reported strong growth in 2009 and is confident of becoming a billion pound business in 2010.

Equities Offer Value as Recovery Continues, Barclays Capital Says

Fri, 25 Jun 2010 17:03:55 +0100

Barclays Capital today said in its latest flagship quarterly research publication, Global Outlook: Rebound, But No Raging Bull Market, that the recent market correction, while exposing obstacles to a bull market in the medium term, has not derailed the global economic recovery. As such, Barclays Capital is recommending that investors maintain selective exposure to risky assets, particularly equities in Europe and the US.

Emergency Budget: the response from small businesses

Fri, 25 Jun 2010 16:40:52 +0100

Almost half the small businesses surveyed by the Forum of Private Business are pleasantly surprised by the Budget but some fear tax rises and other concerns could lead to a double dip recession.

CML responds to FSA policy announcements

Fri, 25 Jun 2010 16:30:44 +0100

The Council of Mortgage Lenders (CML) has responded to the FSA's policy announcements today on "arrears and approved persons" and "sale and rent back" with a mixed view.

Vivacom select Neural Technologies for Fraud Management

Fri, 25 Jun 2010 16:15:43 +0100

Vivacom, Bulgaria’s main telecommunications provider, has selected Neural Technologies as its definitive fraud management solution supplier.

Coventry launches new fixed rates from 4.20%

Thu, 24 Jun 2010 00:00:01 +0100

Coventry has today launched a new range of fixed rate mortgage products which includes a reduced rate of 4.20% for three years previously offered at 4.25%. These low rates are available for a range of LTV’s with competitively priced arrangement fees.

New SASÂ® Enterprise GRC enhances performance, collaboration and transparency

Wed, 23 Jun 2010 19:12:48 +0100

Across all industries, stakeholders increasingly demand to know how revenue was generated, not just how much. A well-integrated governance, risk and compliance (GRC) program helps organizations adhere to laws and regulations, understand and manage risk exposures, and share information with investors, boards of directors, customers and other key audiences.

SASÂ® innovation revolutionises agile decision-making

Wed, 23 Jun 2010 19:01:33 +0100

SAS, the leader in business analytics, is introducing advanced high-performance computing technology to help enterprises harness the astronomical growth of raw data for quick and accurate business decisions. In this increasingly turbulent economy, better, faster decisions can tip the balance between growth and extinction.

The City should welcome boost to UK competitiveness, according to BDO LLP

Wed, 23 Jun 2010 18:55:47 +0100

As The City digests George Osborne’s first Budget as Chancellor, new research from BDO LLP suggests that his measures to make UK a more attractive place to do business could not have come at a better time.

BSA Responds on Building Society Capital

Wed, 23 Jun 2010 18:48:55 +0100

The BSA has submitted its response to the Treasury's Discussion Paper on building society capital and related issues, detailing how building societies could develop a new form of Tier 1 capital, that fits the mutual model, if the right outcome is obtained in a forthcoming EU directive.

Clearwater strengthens Manchester office with double appointment

Wed, 23 Jun 2010 18:42:36 +0100

Clearwater Corporate Finance (“Clearwater”) has strengthened its Manchester team with the appointments of assistant director, John Clarke, and manager, Andy Strickland.

High Court Enforcement Officers Association appoints new chairman and officers

Wed, 23 Jun 2010 14:35:49 +0100

The Board of the High Court Officers Association (HCEOA) have unanimously appointed their new chairman, Mr. Martin Leyshon.

Emergency Budget - Comment from Bibby Financial Services

Tue, 22 Jun 2010 19:35:50 +0100

Commenting on today’s emergency Budget, Edward Rimmer, UK chief executive at specialist business finance provider, Bibby Financial Services, said:

FLA responds to Emergency Budget

Tue, 22 Jun 2010 19:29:07 +0100

Responding to the emergency Budget, Julian Rose, Head of Asset Finance at the Finance & Leasing Association (FLA) said:

Small business support group welcomes key Budget victories for SMEs

Tue, 22 Jun 2010 19:24:05 +0100

Small business support group the Forum of Private Business (FPB) has welcomed a number of key victories for SMEs in today’s Budget.

Emergency Budget - comment from Optima Legal

Tue, 22 Jun 2010 19:17:06 +0100

Anthony Ruane, Partner, Optima Legal, says: "The emergency budget comes as no real surprise - we all expected a difficult budget in the context of the unacceptable fiscal deficit.

BSA comments on emergency Budget measures

Tue, 22 Jun 2010 19:07:30 +0100

Commenting on the measures announced by the Chancellor in the emergency Budget today, Brian Morris, Head of Savings Policy at the Building Societies Association (BSA), said:

Credit union disappointment at Government decision to scrap Saving Gateway

Tue, 22 Jun 2010 19:03:05 +0100

ABCUL - the Association of British Credit Unions – has expressed its disappointment at the decision announced by the Government in today’s Emergency Budget to scrap Saving Gateway.

Media Statement on the Budget (VAT increase)

Tue, 22 Jun 2010 18:53:52 +0100

Steven Law, President of R3, the insolvency trade body, comments on the increase in VAT to 20% in today's Emergency Budget.

Optima Legal grows professional negligence team

Tue, 22 Jun 2010 18:46:21 +0100

Optima Legal is further expanding its Professional Negligence team to deal with the increase in work from its lender client base.

Thomas Eggar LLP assists on nutritious cash injection

Tue, 22 Jun 2010 18:41:50 +0100

Leading law firm Thomas Eggar LLP has assisted London-based Piper Private Equity with its £3m cash injection to Diet Chef - a business that delivers nutritionally balanced meals to customers. The robust funding package has left the Diet Chef brand standing on a solid foundation that will enable the business to grow and meet its ambitious expansion targets.

FSA Mortgage Lending Data published

Tue, 22 Jun 2010 18:35:44 +0100

The Financial Services Authority (FSA) has today published its latest Mortgage Lending Data for the United Kingdom covering the period Q1 2010.

Card fraud gang sentenced to 15 years

Tue, 22 Jun 2010 18:30:00 +0100

Four criminals were today sentenced for a total of 15 years at Southwark Crown Court for their involvement in a series of card frauds that took place in the south of England during 2009.

All in Property to track nationwide fleet with new GPS tracking system

Tue, 22 Jun 2010 18:20:55 +0100

All in Property, the UK’s largest independent contractor firm has unveiled a new GPS system which allows them to track all field operatives to ensure that they are being the most productive they can be.

Pioneering âformula for co-operationâ launched in the UK

Mon, 21 Jun 2010 19:15:17 +0100

Co-operation is back in vogue. The principles developed by the Rochdale Pioneers in the UK over 166 years ago, are now the foundation for a global economy supporting half of the world’s population, a co-operative sector in the UK to which one in five of us belong and the government’s new coalition leadership.

JaywingDMG whitepaper: The online collections revolution

Mon, 21 Jun 2010 19:08:40 +0100

Risk consultancy JaywingDMG has published a new whitepaper, “The online collections revolution: Improving collections efficiency.”

The City 'needs strong commitment from the Chancellor'

Mon, 21 Jun 2010 12:54:29 +0100

As the Chancellor puts the final touches to his greatly anticipated Emergency Budget speech, new research from BDO LLP suggests that The City is still feeling nervous about the impact of a coalition government and some international businesses have one eye on the door.

The Next Generation in Fraud and Risk Case Management?

Mon, 21 Jun 2010 12:47:51 +0100

Neural Technologies, working in partnership with Microsoft, introduce 'Insight' to address the issues of fraud management systems that do not automatically trigger an alert for certain fraudulent activities.

CHAPS Co welcomes J.P. Morgan to its membership

Mon, 21 Jun 2010 12:22:05 +0100

CHAPS Clearing Company Limited, the organisation responsible for the operation of the UK’s high-value, same-day money transfer system and the Faster Payments Service, today announced that J.P. Morgan is to become a full member of the CHAPS Scheme with immediate effect. This now brings total membership to 17 members.

movewithus launch new innovative consumer website

Mon, 21 Jun 2010 09:53:08 +0100

Property specialists movewithus have launched a new website, which has been designed to provide maximum exposure for their client’s properties, whilst improving the customer journey.

Gross Mortgage lending up 7% in May

Mon, 21 Jun 2010 09:45:53 +0100

Gross mortgage lending totalled an estimated £11.3 billion in May, a 7% increase from £10.5 billion in April and up 10% from £10.2 billion in May 2009, according to new data from the Council of Mortgage Lenders (CML).

Precise Mortgages Goes Live with DPR Solution

Mon, 21 Jun 2010 09:25:29 +0100

Mortgage software specialist DPR Consulting has announced that new intermediary mortgage lender Precise Mortgages is the latest lender to go live with its mortgage origination system.

Phillips & Cohen Associates call for improvement to industry standards

Fri, 18 Jun 2010 17:16:37 +0100

Market leading probate collections company, Phillips & Cohen Associates (UK) Ltd, is calling for improvements in debtor treatment across the credit industry. To demonstrate its own commitment to providing ‘best in class’ customer service, the company has become the founding member of the newly launched Samaritans’ Academy, which is a membership scheme designed to help businesses equip staff with the skills to manage customers in emotional distress ...

Marston Group appoints new Deputy Chief Executive

Fri, 18 Jun 2010 17:13:10 +0100

Gareth Hughes has been appointed Deputy Chief Executive of Marston Group with immediate effect. Frank Millerick, Chief Executive, commented: "Gareth has played an increasingly important role across the business over the years, and this new position is recognition of that wider contribution."

Businesses unanimous in their support for the coalition Government ahead of the emergency Budget

Fri, 18 Jun 2010 17:12:02 +0100

A recent straw poll* conducted by business finance provider Bibby Financial Services shows that the majority of UK firms feel the new coalition Government will improve the outlook for businesses in the UK.

MCR confirms no buyer secured to rescue Art Founders Limited

Fri, 18 Jun 2010 17:10:18 +0100

Matt Bond and Jason Godefroy of MCR, appointed joint administrators of Art Founders Limited t/a Morris Singer Art Foundry (“the Company”) on 14 May 2010, have confirmed that, notwithstanding significant marketing efforts, no sale of the business or its assets have been completed, despite reports that Mr Nasser Azam had rescued the business.

Business Debtline helps ten thousand businesses in 2010

Fri, 18 Jun 2010 17:08:20 +0100

Business Debtline – a helpline run by the Money Advice Trust - revealed today that it has helped its 10,000th business struggling with debt this year. The helpline, a unique national service that provides impartial advice to micro businesses and sole traders, will by the end of the year have provided expert advice and support to over 100,000 businesses struggling with debt since 1992.

MCR confirms closure of five Vergo stores

Fri, 18 Jun 2010 14:38:26 +0100

Sarah Bell and Steven Muncaster, Partners at MCR and joint administrators of department store business Vergo Retail Limited (“the Company”), have today confirmed that five stores will close permanently this Saturday, 19 June 2010. Negotiations with prospective purchasers will continue for the remaining 10 stores still operating.

National Payments Plan â a two-year progress update

Fri, 18 Jun 2010 11:39:09 +0100

The Payments Council today published an update on their work on their National Payments Plan. Work has primarily focused on the future of cheques, following the Payments Council Board’s decision to close cheque clearing in 2018 provided suitable alternatives are available.

Business recovers at home and abroad

Thu, 17 Jun 2010 17:08:41 +0100

Businesses are starting to enjoy a recovery in markets at home and overseas as the economy slowly emerges from recession, according to delegates at the Coface - UK & Ireland Country Risk Conference. ...

FLA responds to Financial Secretary's statement on financial services reform

Thu, 17 Jun 2010 16:51:05 +0100

Responding to the Financial Secretary’s statement to Parliament on the reform of financial services, Stephen Sklaroff, Director General of the Finance & Leasing Association said:

Graydon goes interactive

Thu, 17 Jun 2010 15:53:53 +0100

A new comprehensive credit report service that has been developed using the latest interactive PDF and Flash technology is being launched this week to credit managers in the UK, by leading credit reference agency Graydon UK.

Budget must preserve âTime to Payâ tax scheme despite plans to cut deficit, says ...

Thu, 17 Jun 2010 15:51:47 +0100

Scrapping HM Revenue & Customs’ ‘Time to Pay’ scheme in next week’s Budget could force thousands of small firms struggling to manage tax payments into administration, the Forum of Private Business is warning.

Should regulators judge culture?

Thu, 17 Jun 2010 15:07:59 +0100

Unacceptable culture within firms was a major contributor to the financial crisis and so regulators should play a greater role in judging how culture drives firms' behaviour and impacts on society as a whole, according to the chief executive of the Financial Services Authority (FSA).

Action to tackle poor value for money and unfunded spending commitments

Thu, 17 Jun 2010 15:03:29 +0100

Today, the Chief Secretary to the Treasury, Danny Alexander, announced which projects re-submitted to the Treasury will be suspended and cancelled as part of a review of all spending decisions taken since 01 January. Projects have been cancelled where they were not affordable, did not represent good value for money, or where they did not reflect the Government's priorities.

Struggling debtors: over forty percent risk snowballing debts

Thu, 17 Jun 2010 12:45:45 +0100

Research commissioned by R3, the insolvency trade body, reveals that more than four in ten (44%) individuals who freely admit to struggling with their debt have not sought advice because they do not believe that their problem is big enough to need help.

Speech at The Lord Mayorâs Dinner for Bankers & Merchants of the City of London

Thu, 17 Jun 2010 12:43:47 +0100

Speech at The Lord Mayor’s Dinner for Bankers & Merchants of the City of London by The Chancellor of the Exchequer, The Rt Hon George Osborne MP, at Mansion House.

New report shows income inequality set to get worse for 7.2 million âsqueezed middle'

Thu, 17 Jun 2010 10:29:34 +0100

The Resolution Foundation, the low earners think-tank, today publishes a report which shows how the coalition government can share the pain of deficit reduction fairly across society. The report acknowledges that cuts are necessary but highlights how the overall deficit reduction plan in the emergency budget must ensure cuts and tax rises are proportional to ensure everyone shoulders the burden together - and the UK’s 7.2 million low income households do not remain the squeezed middle bear ...

New service offering for Incasso

Thu, 17 Jun 2010 10:26:23 +0100

Incasso, one of the UK’s leading credit management providers, have expanded their trace service line, to incorporate Process Serving on a worldwide basis for clients.

Conquering the peaks of Grasmere

Thu, 17 Jun 2010 10:23:41 +0100

A group of Incasso and Cobbetts staff recently completed a 14 mile sponsored hike in aid of The British Heart Foundation and have managed to raise a staggering £4,000!

Sir John Vickers to Chair the Independent Commission on Banking

Wed, 16 Jun 2010 14:15:57 +0100

The Chancellor of the Exchequer George Osborne today announced that Sir John Vickers will chair the Independent Commission on Banking.

Business investment is key to recovery, FLA tells Chancellor

Wed, 16 Jun 2010 13:01:23 +0100

The Finance & Leasing Association (FLA) has written to the Chancellor of the Exchequer in advance of next week’s emergency Budget, stressing the importance of helping business investment.

VocaLink enhances its reach for payments into the UK

Wed, 16 Jun 2010 12:35:02 +0100

VocaLink, the international payment transaction specialist, today announced that it is enhancing its Euro Clearing and Settlement Mechanism (CSM) service. Banks and their customers will benefit from greater reach and flexibility in submitting SEPA and non-SEPA payments destined for UK Euro or pound sterling accounts.

CML comment on spending cap speculation

Wed, 16 Jun 2010 12:32:57 +0100

Responding to today's speculation that the Chancellor is set to announce that the Bank of England will gain new powers to impose limits on the type of mortgage lending that lenders will be able to undertake in the future, the Council of Mortgage Lenders says it is vital that there should be a logical discussion of what objectives such a measure would be designed to achieve. The characteristics of today's market are not likely to stoke risky mortgage lending, and the international and domestic me ...

FSA bans three individuals and fines two of them for mortgage fraud

Wed, 16 Jun 2010 12:31:07 +0100

The Financial Services Authority (FSA) today announced it has banned three mortgage brokers from working in the financial services industry; and fined two of the brokers £294,500 and £120,000.

Exact Mortgage Experts comments on the latest unemployment figures

Wed, 16 Jun 2010 12:27:10 +0100

Commenting on the latest unemployment figures, Alan Cleary, managing director of Exact Mortgage Experts, said:

World Cup set to boost UK retail sales

Wed, 16 Jun 2010 09:44:37 +0100

British Retail Consortium (BRC) and Verdict Research are both predicting a rise in retail sales during the World Cup season, which is according to Phil Duffy, Partner at corporate restructuring and insolvency experts MCR, good news for the sector.

Generational attitudes indicate more young people heading for debt disaster than older peers

Wed, 16 Jun 2010 09:43:06 +0100

Research from R3, the insolvency trade body, which explores the experiences of people struggling with their debts, reveals that a far higher proportion of younger respondents are more likely to leave their bills unopened and avoid their creditors than older respondents.

Assets must not be hidden from creditors warns Insolvency Service

Wed, 16 Jun 2010 09:31:34 +0100

A surge in potential bankrupts trying to put their assets out of the reach of their creditors has prompted a warning from The Insolvency Service.

Credit union response to publication of OFT review of high cost credit

Tue, 15 Jun 2010 15:06:02 +0100

ABCUL – the Association of British Credit Unions – has responded to the publication today (15 June) of the Office of Fair Trading’s final report on its review of high cost credit.

No easy solutions as consumer confidence in housing market recovery remains low

Tue, 15 Jun 2010 14:45:29 +0100

Just 45% of consumers surveyed in the BSA's latest, June 2010, quarterly Property Tracker survey think that now is a good time to buy property. This compares with a figure of 49% of those surveyed and asked the same question in March 2010.

Lowest share of house purchase market for first-time buyers since 2007

Tue, 15 Jun 2010 14:43:24 +0100

First-time buyers made up the lowest proportion of house purchase loans since September 2007, according to new data released today by the Council of Mortgage Lenders. They accounted for 35% of all house purchase mortgages, down from 39% in March and 38% in April 2009. The low share of the market shows that getting a mortgage remains problematic for first-time buyers who tend not to have a substantial deposit.

Currency fluctuations impacting overseas trading prospects for majority of UK small firms

Tue, 15 Jun 2010 11:16:05 +0100

Almost two thirds of small and medium sized businesses (SMEs) (63 per cent) believe that currency fluctuations are threatening their ability to trade overseas. This is compared with around a third of firms (31 per cent) who cite increased shipping costs as a significant threat to their cross border trade and around a quarter (28 percent) who cite the payment of additional import and export duties. ...

FLA response to OFT High-Cost Credit Review

Tue, 15 Jun 2010 10:09:21 +0100

Responding to the OFT Review of High-Cost Credit, Fiona Hoyle, Head of Consumer Finance at the Finance & Leasing Association said:

Desperate times push nearly 70,000 towards loan sharks

Tue, 15 Jun 2010 10:06:20 +0100

As many as 67,000, or 7%, of those struggling with debts say they have already contacted a loan shark or doorstep lender, while a further 13% have considered doing so. This is based on research by insolvency trade body R3 who have identified a group of 961,000 individuals who describe themselves as ‘struggling with debt but have not sought help’.

Prison threat to council tax evaders

Tue, 15 Jun 2010 09:47:54 +0100

Council tax evaders across north Northumberland could be facing a prison sentence. Magistrates at Alnwick ordered warrants with bail for ratepayers who failed to show up at court on Monday.

Budgetâs deficit reduction policies should go easy on small firms, says business group

Mon, 14 Jun 2010 17:21:37 +0100

The coalition government’s new Office for Budget Responsibility (OBR) has today downgraded the UK’s economic growth forecast. In response to these long-term projections of slower growth, the Forum of Private Business is calling for robust policies in next week’s Budget which reduce the national debt while stimulating small business growth.

Money Advice chief awarded OBE

Mon, 14 Jun 2010 15:48:36 +0100

The Money Advice Trust (MAT) is delighted to announce that Chief Executive Joanna Elson has been awarded an OBE in the Queen’s birthday honours list for services to people in debt.

Outsourced Debt Collections Industry Maintains Strong Profile and Effectiveness

Mon, 14 Jun 2010 15:39:49 +0100

The latest “Global Collections Review” survey undertaken by leading credit management and collections specialist Atradius Collections, assessed the current commercial debt collection trends and practices of more than 1,700 companies in nine European countries including Great Britain.

Credit Action President and founder receives OBE

Mon, 14 Jun 2010 12:43:08 +0100

The President and founder of Credit Action, Keith Tondeur, has been appointed Officer of the Order of the British Empire (OBE) in recognition of his services to financial education.

HML appoints James Parker as Director of Client Relations

Mon, 14 Jun 2010 12:10:15 +0100

Leading financial outsourcer, HML, has appointed James Parker as Director of Client Relations.

Donât wait for emergency Budget to review cash flow, Bibby Financial Services urges SMEs

Mon, 14 Jun 2010 12:06:06 +0100

As the emergency Budget edges ever closer, firms must not forget that business must go on. It is now more important than ever to make sure the cash keeps on flowing, despite the uncertainty ahead in terms of cuts, funding options, and tax breaks for UK businesses.

Euristix provides enhanced risk management for specialist lender, Buy As You View

Mon, 14 Jun 2010 11:58:48 +0100

Financial services consultancy, Euristix, has been contracted by specialist retail and consumer finance provider, Buy As You View (BAYV), to provide enhanced risk analysis and management for the business.

Institutional investment 'could kick start recovery' in residential property sector

Mon, 14 Jun 2010 11:54:27 +0100

The recent announcement that the £3.5bn London Pension Fund Authority (LPFA) is stepping in to fund impoverished property developers is great news for the residential property sector, says property specialists movewithus.

Ministers and MPs support credit unions in Parliament - ABCUL

Mon, 14 Jun 2010 11:50:11 +0100

Ministers from across Government have been making supportive statements on credit unions early in the new Parliament. MPs new and old have been putting incisive questions on the development of credit unions from opposition and have been met with enthusiasm from the dispatch box.

Publishing house looks forward to bright future

Fri, 11 Jun 2010 13:20:27 +0100

Bright Red Publishing Ltd (“Bright Red”), a leading Scottish educational publisher, hopes to become the leading provider of premium educational material in the country, after securing a £180,000 funding line from Absolute Invoice Finance (“Absolute”).

MGEN selects SASÂ® to optimise operational risk management program

Fri, 11 Jun 2010 13:19:16 +0100

France’s largest supplementary insurance company is enhancing operational risk management with SAS® OpRisk Monitor software from SAS, leader in business analytics software and services. With more than three million policyholders, the Mutuelle Générale de l'Education Nationale (MGEN), underwrites both compulsory and supplementary insurance plans.

Adeptra continues momentum with appointment of new director, worldwide marketing

Fri, 11 Jun 2010 12:59:02 +0100

Adeptra, the recognised leader in automated two way customer communications, has appointed Bill Brown as Director of Worldwide Product Marketing.

BSA believes Government should act to support savers and homeowners

Fri, 11 Jun 2010 12:40:53 +0100

Ahead of the Emergency Budget on 22 June, the Building Societies Association (BSA) has written to the Chancellor of the Exchequer highlighting the issues that face savers and borrowers in the current economic environment. Adrian Coles, Director-General of the BSA commented:

Start-Up discrimination

Fri, 11 Jun 2010 12:31:59 +0100

New research published today by Creditsafe, the business intelligence experts, reveals that nearly one-in-10 (9%) companies will avoid trading with a business if it is less than a year old. These company owners and operators are discriminating against start-up companies when looking at new customers, suppliers and business partners, preferring to trade with enterprises that have an established financial and credit history.

New FICO Service Enables Banks to Fine-Tune Risk Strategies Based on Economic Conditions

Fri, 11 Jun 2010 12:23:12 +0100

FICO, the leading provider of analytics and decision management technology, have announced the immediate global availability of the FICO Economic Impact Service, a patent-pending analytic service that helps lenders adjust their use of risk scores based on economic projections and lender-defined scenarios. With the ability to build on both internally derived score models and standard credit scores, such as the FICO® 8 Score, the FICO Economic Impact Service™ provides lenders with unpre ...

Rising costs and fears of tax hikes hitting small business confidence ahead of Budget

Thu, 10 Jun 2010 10:56:20 +0100

With the ‘emergency’ Budget less than two weeks away, and rising costs fears over potentially damaging tax hikes are denting the confidence of small businesses, according to the latest Economy Watch survey from the Forum of Private Business (FPB).

Scotland is facing a declining rate of business start-ups

Thu, 10 Jun 2010 10:04:10 +0100

Responding to Sir Tom Hunter’s comment that Scotland is facing a declining rate of business start-ups, David Matthewson, Scotland sales director at specialist business finance provider, Bibby Financial Services, said:

Tieto upgrades its Summit mortgage and savings suite for enhanced efficiency and quality

Thu, 10 Jun 2010 09:24:45 +0100

Tieto has completed an upgrade of the Summit, part of its Mortgage & Savings Suite (MSS) aimed to manage mortgage lenders relationship with their customers from first contact to final payment. The new release (CSR2) delivers major enhancements to customer view, workflows, security and user experience together with changes to the technical architecture.

Improvement in export volumes must be nurtured

Wed, 09 Jun 2010 16:34:29 +0100

Commenting on the April trade figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

âUK Plastic Cards: Outlook to 2011â added to ReportBuyer.com

Wed, 09 Jun 2010 16:26:07 +0100

ReportBuyer.com has added a new report “UK Plastic Cards: Outlook to 2011" at http://www.reportbuyer.com/go/DAT20061

Barclays makes new mortgage offer to Bovis Homes customers

Wed, 09 Jun 2010 16:16:08 +0100

Barclays, through its mortgage arm Woolwich, has launched a market-leading mortgage offer for up to 90 per cent loan to value (LTV) available for people purchasing a new home with one of Britain’s leading housebuilders, Bovis Homes, as part of efforts to help stimulate the new-build market in a sustainable way and provide affordable mortgages for consumers with low deposits.

Tackle the Ts & Cs for Long Term Ease

Wed, 09 Jun 2010 16:06:38 +0100

With businesses facing increasing levels of debt from customers – up 40% in the first Quarter of 2010 - Lovetts Plc, one of the UK’s leading law firms specialising in debt recovery, is urging credit managers to set in place accurate, comprehensive and up to date Trading Terms and Conditions. Lovetts believes that well constructed Ts and Cs will not only help protect a business from bad debt but can become a profit centre for firms extending credit.

FSA takes action against two insurance brokers for failing to protect client money and assets

Wed, 09 Jun 2010 13:17:10 +0100

The Financial Services Authority (FSA) has today taken action against two insurance brokers - Delwyn Way of Shield Insurance Consultancy Ltd (Shield) and Adrian Shillaker of Griffiths McAlister Insurance Brokers Ltd (Griffiths McAlister) - for failing to adequately protect client’s money and assets.

New board for the Registry Trust

Wed, 09 Jun 2010 12:51:12 +0100

Following an extraordinary general meeting of its members last month, Registry Trust has emerged with a new board and new governance, designed for its public and private role.

Industry can work together to reform the home buying and selling process

Wed, 09 Jun 2010 12:38:06 +0100

The Building Societies Association (BSA) recently chaired a thought leadership discussion with representatives from the legal and conveyancing professions, estate agents, surveyors and consumer bodies to explore how the home buying process can be improved for consumers. The BSA has today published a summary incorporating initial thoughts on where industry and government should go from here.

Get prepared for the HMRC clampdown

Tue, 08 Jun 2010 12:59:09 +0100

HMRC has announced plans to seize an additional £4bn in revenue in 2010/11 through a more aggressive strategy that could leave blameless businesses facing unnecessary probes into their dealings, according to Quentin Pain, founder of accountancy software company, Accountz.

Bibby Financial Services emerges from the recession with a 24 per cent growth in new business

Tue, 08 Jun 2010 12:40:15 +0100

For many businesses, 2009 presented difficult trading conditions with many showing a downturn in trade. But as GDP figures rose in Q4 signalling an end to the recession, business finance provider Bibby Financial Services has reported a positive end to what global chief executive David Robertson describes as, “some of the most harrowing trading conditions of the last half century.”

Â£1bn of savings 'can be delivered through better fraud detection in the public sector'

Tue, 08 Jun 2010 12:33:10 +0100

Exact Strengthen Team with Senior Appointment

Tue, 08 Jun 2010 12:21:51 +0100

Exact are pleased to announce the appointment of Philip Horsfield as Director of Legal and Compliance. Philip will be responsible for overseeing the Legal, Compliance, Internal Audit and Operational Risk functions at Exact and Precise Mortgages.

Mortgage origination redefined with Tieto's Origination Suite

Tue, 08 Jun 2010 12:11:55 +0100

Leading European IT services company Tieto has unveiled the Origination Suite, designed to support sales of financial services such as mortgages, savings, loans, cards, insurance and current accounts. Focussing initially on mortgage origination, this highly configurable solution provides business users with an intuitive, easy-to-use system for the complete process, from initial customer engagement to loan fulfilment.

Numbers up for 3 Step Finance Ltd and 123 Finance Ltd as they are wound-up in the public interest

Mon, 07 Jun 2010 16:39:58 +0100

3 Step Finance Ltd (previously known as Global Debt Solutions Ltd) and 123 Finance Ltd based in the Bolton area were wound up in High Court following an investigation by the Company Investigations team of the Insolvency Service.

SMEs face global late payment issue when trading overseas

Mon, 07 Jun 2010 16:29:56 +0100

As companies take advantage of the current weakness of the Pound and increase their exporting arms, many business owners and managers are encountering frustrating international payment practices, according to specialist business finance provider Bibby Financial Services.

Small companies continue to struggle in the UK Debt Collection Agencies industry

Mon, 07 Jun 2010 16:24:59 +0100

27 small companies in the UK Debt Collection Agencies industry are in financial difficulty as the lingering effects of the credit crunch continue to bite hardest at the lower end of the market.

Direct Debit more popular than ever for British adults

Mon, 07 Jun 2010 16:23:29 +0100

More British adults than ever before think Direct Debit is a good way to pay, according to research by Bacs Payment Schemes Limited. A massive 79% responded positively when asked what they thought of Direct Debit, illustrating how important this straightforward and convenient payment method is for Britain.

Equifax offers smaller companies fast-track to risk decisioning

Mon, 07 Jun 2010 16:08:00 +0100

Leading credit information specialist, Equifax, has developed a new range of powerful risk decisioning tools that tackle the historical issue of having access to quality risk management solutions, but at prices that are affordable for smaller businesses.

Emergency budget: focus on spending cuts, not tax hikes says BRC

Mon, 07 Jun 2010 13:23:48 +0100

Ahead of this month's Emergency Budget, the British Retail Consortium (BRC) is calling on the Chancellor to build on the Government's initial approach of focusing on public spending cuts over tax rises to tackle the deficit, but cautions against making reductions too quickly.

MCR completes sale of Robbs department store in Hexham

Mon, 07 Jun 2010 12:20:05 +0100

MCR, the administrators for department store business Vergo Retail Limited (“the Company”), has announced the successful sale of Robbs department store in Hexham, Northumberland to J E Beale PLC. The deal was completed on 3 June 2010, following the appointment of joint administrators Sarah Bell and Steven Muncaster, Partners at MCR earlier in May.

Experian speeds up corporate payment advice with latest innovation

Mon, 07 Jun 2010 12:06:10 +0100

Experian®, the global information services company, today announces the launch of a Payment Advice module for its UK Payments Gateway product. This latest innovation will allow organisations to send automated messages advising consumer and business beneficiaries that payments have been made through a range of channels, including SMS and email.

Clydesdale and Yorkshire Banks select Experian to optimise marketing campaigns

Mon, 07 Jun 2010 12:00:50 +0100

Experian®, the global information services company, today announces that Clydesdale and Yorkshire Banks have implemented the company’s Marketswitch Optimization software to improve returns from customer contact activity.

Group of Cheshire based companies shut down after Insolvency Service investigation

Fri, 04 Jun 2010 13:02:44 +0100

A group of Cheshire-based companies offering debt management and loan brokerage services to financially distressed clients have been wound-up in the High Court following an investigation by Company Investigations of the Insolvency Service.

FSA bans Swindon based mortgage broker for breaching a settlement agreement and lying to the FSA

Fri, 04 Jun 2010 11:06:50 +0100

The Financial Services Authority (FSA) has banned sole trader Joseph Masi, trading as Select Mortgage Services, for breaching a settlement agreement with the FSA and providing false and misleading information to the FSA.

Council writes off Â£400,000 in unpaid debt as legal fees soar

Fri, 04 Jun 2010 10:26:46 +0100

Tax dodgers, benefit cheats and bad debtors have forced Tamworth to write off more than £414,000 in the last 12 months – enough money to double the current number of street wardens or secure a major portion of the Staffordshire Hoard for the town.

New report shows trends in cash and cash machine usage

Fri, 04 Jun 2010 10:23:47 +0100

UK Cash & Cash Machines 2010, a report published by the Payments Council in co-operation with The UK Cards Association and LINK, shows how Brits go about getting their hands on cash.

Talk of interest rate hike sparks insolvency fears among small businesses

Fri, 04 Jun 2010 10:18:08 +0100

Following calls from the Organisation for Economic Co-operation and Development (OECD) to raise interest rates to 3.5%, insolvency trade body R3 has traced the impact that rises would have on small businesses. According to a survey of 300 small businesses conducted this month:

Man jailed for failing to pay his council tax

Fri, 04 Jun 2010 10:14:24 +0100

A Congresbury man has been jailed for 40 days for failing to pay his council tax arrears.

Brent Council nets Â£800,000 from 1,200 tax dodgers

Fri, 04 Jun 2010 10:11:25 +0100

Brent Council recovered £800,000 from council tax dodgers after a nine month investigation.

Chief Executive of Company Watch Limited announces his retirement

Fri, 04 Jun 2010 10:05:45 +0100

Company Watch have announced that their CEO and Chairman, Guenter Steinitz will be retiring at the end of this month.

VocaLink Take Home Pay Index continues its decline hitting a new record low in May

Thu, 03 Jun 2010 16:23:31 +0100

For the second month in a row, the VocaLink Take Home Pay Index is at its lowest level ever recorded since its introduction in 2004, sitting at just 0.5 per cent. The Index has now hovered below 2.0 per cent for the past twelve months and below 1.0 per cent since February 2010, reflecting weak earnings growth, particularly since the start of this year.

Marsh launches new Practice to serve UK insolvency sector

Thu, 03 Jun 2010 15:54:02 +0100

Following a sharp increase in demand for specialist insolvency insurance products, Marsh has launched a dedicated practice to provide expert risk and insurance advice to insolvency practitioners in the UK.

MCR completes sale of renowned housewares brand

Thu, 03 Jun 2010 12:37:20 +0100

MCR, the administrators for stylish kitchen accessories designer Typhoon Housewares Limited (“the Company”), has announced the successful sale of its Intellectual Property and assets to Rayware Limited, which was completed on 27 May 2010.

Credit Action - Debt Statistics for June 2010

Thu, 03 Jun 2010 12:28:40 +0100

Total UK personal debt at the end of April 2010 stood at £1,460bn. The twelve-month growth was 0.8%. Individuals owe more than what the whole country produces in a year.

Forum responds to governmentâs regulation-busting action plan

Thu, 03 Jun 2010 12:11:47 +0100

The Forum of Private Business (FPB) is responding to the coalition Government’s announcement of an ‘action plan’ to end excessive red tape.

Action plan announced to end excessive regulation

Wed, 02 Jun 2010 17:47:41 +0100

Business Secretary Vince Cable today announced an action plan to bring an end to the excessive regulation that is stifling business growth.

Forum advises employers to plan ahead for World Cup watching

Wed, 02 Jun 2010 17:43:47 +0100

With the World Cup just over a week away, the Forum of Private Business (FPB) is advising its members to plan ahead for the likelihood that some employees will take more of an interest in their team’s fortunes than their duties and want to watch games during work hours.

Policy choices - a role for the home finance forum?

Wed, 02 Jun 2010 17:39:47 +0100

The Council of Mortgage Lenders (CML) have said the reaction to the scrapping of home information packs (HIPs) proves they were unloved and are unlamented by consumers.

P&A Receivables European Credit Forum alerts channel to growing threat of fraud scams

Wed, 02 Jun 2010 17:35:35 +0100

P&A Receivables, the leading credit management and debt collection service provider to the IT industry, has highlighted the growing threat that long- and short-firm scams pose to the channel and urged resellers, distributors and vendors to be on high alert when dealing with new customers, especially when potentially lucrative opportunities seem to be in the offing.

CML warns of downside risk on lending forecasts

Wed, 02 Jun 2010 17:32:55 +0100

Responding to the Bank of England lending data published today, the Council of Mortgage Lenders' (CML) director general Michael Coogan commented:

BDO LLP appoints new partner to lead Financial Services Advisory Practice

Wed, 02 Jun 2010 17:30:53 +0100

Tim Kirk has been appointed as Head of the Advisory Services practice, Financial Services at accountants and business advisers BDO LLP in London.

CABOT Financial appoints Tina Carter as PR & marketing manager

Wed, 02 Jun 2010 17:28:02 +0100

Cabot Financial, market leader in debt purchase, is pleased to announce the appointment of Tina Carter as PR & Marketing Manager based at its West Malling head office.

Savings balances increase at mutuals in April

Wed, 02 Jun 2010 17:26:19 +0100

Figures just released by the Building Societies Association (BSA) show that balances held in savings accounts at mutual institutions increased by £929 million in April compared to an increase of £534 million in March. After interest credited to accounts is excluded, mutuals had a net receipt of £537 million in April.

Check that company sees worrying signs as UK corporate profitability continues to decline

Tue, 01 Jun 2010 17:38:36 +0100

Check That Company, the online service that gives small businesses a simple and affordable way to run company reports and credit checks, has expressed concern over the impact that falling levels of profitability amongst the UK’s larger companies is likely to have on the small business sector.

Businesses still failing to see value in cashflow management

Tue, 01 Jun 2010 17:31:23 +0100

Businesses are cutting back on recruiting accounts staff, even though their role in keeping the cash flowing is more vital than ever.

Experian report sets out recommendations for improving DCA performance

Tue, 01 Jun 2010 17:20:05 +0100

Experian®, the global information services company, today published new analysis on the UK’s debt collection agency (DCA) industry and advice on how DCAs can better adapt to market conditions.

Consumers look to trade body to help manage their debts

Tue, 01 Jun 2010 12:05:53 +0100

First quarter statistics show a steady rise in hits to the new consumer section of the Credit Services Association (CSA) website as debtors look to learn more about managing their finances.

Election uncertainty puts dampener on housing market

Tue, 01 Jun 2010 11:57:48 +0100

Commenting on the latest monthly national housing survey, Richard Donnell Director of Research at Hometrack - the property analytics business - said:

Has HMRC become the UKâs largest bank?

Tue, 01 Jun 2010 10:58:31 +0100

Company insolvencies have decreased in the first quarter of 2010 by 8.4% bringing the annualised figure to a total of 4,082, a decrease of 17.8% year-on-year. But according to Steve Clancy, Partner at MCR Tax Arrears Solutions, the figures though could be hiding a hidden tsunami of corporate failures, as HMRC increasingly flexes its muscles.

Co-operatives UK comment on Lambeth Councilâs plans to become The Co-operative Council

Sat, 29 May 2010 09:22:26 +0100

Speaking about Lambeth Council’s plans to become The Co-operative Council published in its ‘white paper’ yesterday, Ed Mayo, Secretary General of Co-operatives UK, said:

New Recruits shine at LaSer UK

Sat, 29 May 2010 09:15:44 +0100

LaSer UK, the Solihull-based leading provider of credit and customer marketing programmes, has strengthened its operations team with two senior appointments.

FSA introduces temporary rule to give recent PPI complainants more time to refer to the FOS

Fri, 28 May 2010 12:54:39 +0100

The Financial Services Authority (FSA) has today announced a temporary rule to give customers who recently made a complaint about their purchase of a Payment Protection Insurance (PPI) policy more time in which to refer their complaint to the Financial Ombudsman Service (FOS).

New advice guide launched to help customers using cards abroad this summer

Fri, 28 May 2010 12:41:41 +0100

To coincide with the approach of the holiday season, The UK Cards Association and ABTA, the travel association, have today published a consumer advice guide – Using your card overseas – that provides the latest tips and useful information for holidaymakers and business travellers who are planning to use their cards abroad this summer.

FSA confirms annual funding requirement for 2010/11

Fri, 28 May 2010 12:28:43 +0100

The Financial Services Authority (FSA) has today confirmed its annual funding requirement for 2010/11.

Money Advice Trust appoints new Head of Research and Policy

Fri, 28 May 2010 12:17:57 +0100

The Money Advice Trust has appointed Louisa Parker as Head of Research and Policy. Louisa began her career at the Trust five years ago as a money adviser for National Debtline.

Consumer credit figures show government should take stock before introducing new regulation

Thu, 27 May 2010 17:18:50 +0100

Before considering any new regulation, the Government should take stock of the important new consumer rights already being introduced by lenders. This is the message from the Finance & Leasing Association (FLA), which released figures today showing that spending in March on loans, store cards and credit cards was down by 33%, 20% and 3% respectively compared with a year ago. Meanwhile, credit for car sales grew by 31%.

Identity Fraud - Donât let someone steal your good name

Thu, 27 May 2010 17:10:21 +0100

Identity fraud is costing the UK more than £1.7bn a year. It is the fastest-growing white-collar crime, increasing by more than 500% every year. It is now a potential threat to small business owners who are busy with the everyday rigours of running a company and steps need to be taken to avoid becoming a victim.

JaywingDMG to provide Foil fraud prediction models to LaSer UK

Thu, 27 May 2010 16:56:14 +0100

LaSer UK, a leading provider of revolving and fixed term credit and customer programmes, has appointed JaywingDMG to develop bespoke fraud prediction models for its credit card portfolio. In addition, they join other leading organisations in contributing to the Foil fraud syndicate.

New board appointment at High Court Enforcement Group

Thu, 27 May 2010 16:38:41 +0100

The Directors of High Court Enforcement Group are delighted to welcome Amir Ali as Director of Client Services & Business Development.

Consumer durables look to England World Cup success for 60% sales uplift

Thu, 27 May 2010 16:28:16 +0100

A large proportion of the retail sector is looking to World Cup fever to boost sales by as much as 60 percent to accelerate recovery from the recession, according to leading trade credit insurer Atradius.

CCTA form strategic partnership with Callcredit Information Group

Thu, 27 May 2010 16:21:09 +0100

The Consumer Credit Trade Association (CCTA) has launched a strategic partnership with Callcredit Information Group to offer its members a range of Callcredit products including SHAREReport, CallValidate, CallML and CallTrace.

Permanent chief executive appointed at FSSC

Thu, 27 May 2010 10:31:54 +0100

The Financial Services Skills Council (FSSC), the independent, employer-led sector skills council for finance, accounting and financial services, today announced the appointment of Liz Field to the permanent position of Chief Executive, after it was required to recruit for a permanent Chief Executive following the renewal of its licence in March.

Benefits cheat is tagged after dishonestly claiming Â£5,000

Thu, 27 May 2010 10:18:17 +0100

Magistrates have ordered that a benefit cheat be electronically tagged after they heard how he pocketed more than £5,000 he was not entitled to.

Council Collect More Than Â£40,000 In Unpaid Council Tax From Payment Dodgers

Thu, 27 May 2010 10:13:08 +0100

More than £40,000 has been collected in unpaid Council Tax after a two-month crack down was launched.

MCR statement on Vergo Retail Limited

Thu, 27 May 2010 09:59:35 +0100

Sarah Bell and Steven Muncaster, Partners at MCR and joint administrators of department store business Vergo Retail Limited (“the Company”), have today confirmed that all 19 stores are commencing closing down sales with immediate effect, while negotiations with prospective purchasers continue.

MCR appoints Gordon Titley as its first CEO

Thu, 27 May 2010 09:51:31 +0100

MCR has appointed its first Chief Executive Officer in a bold move to drive forward its strategic development, as it approaches its ten-year anniversary in 2011.

BBA response to European Commission communication on bank resolution funds

Wed, 26 May 2010 17:01:47 +0100

Commenting on the European Commission communication on bank resolution funds, Angela Knight, chief executive of the British Bankers' Association (BBA) said:

ABCUL Supports OFT's Loan Shark Campaign

Wed, 26 May 2010 16:44:07 +0100

ABCUL has welcomed this week’s launch of a new advertising campaign by the Office of Fair Trading (OFT) warning of the dangers of loan sharks and encouraging people to report them.

Businesses 'must take proactive measures' to protect themselves against losses due to volcanic ash

Wed, 26 May 2010 13:38:23 +0100

Businesses must take proactive measures to protect themselves against losses caused by eruptions of the Icelandic volcano, advised leading credit management specialist Coface – UK & Ireland.

OFT launches review of barriers to entry, expansion and exit in retail banking

Wed, 26 May 2010 12:47:06 +0100

The Office of Fair Trading (OFT) has today launched a review of barriers to entry, expansion and exit in retail banking, to identify any obstacles facing new entrants and smaller banks seeking to expand.

Experian launches Diversity Monitor to enhance delivery of public services

Wed, 26 May 2010 12:31:57 +0100

Experian Public Sector today announces the launch of Diversity Monitor, a new tool providing government organisations with a more detailed understanding of ethnicity amongst citizens and public sector employees. Use of the tool will help the public sector enhance the quality of services provided and strengthen community relations.

More detail needed following Queen's Speech

Tue, 25 May 2010 17:04:45 +0100

Following today’s Queen’s Speech, the Finance & Leasing Association (FLA) is calling on the new Government to clarify some key policy areas.

Comment on Queen's Speech by Bibby Financial

Tue, 25 May 2010 15:51:55 +0100

Commenting on the Queen’s Speech and the coalition Government's legislation plans, Edward Rimmer, UK chief executive at specialist business finance provider, Bibby Financial Services, said: “It is encouraging to hear that the coalition Government's first priority is to ‘reduce the deficit and restore economic growth’. However, plans to do this - mainly by cutting spending rather than increasing tax - are perhaps a double edged sword for UK businesses.

Forum highlights SME impact of Queenâs speech

Tue, 25 May 2010 15:45:50 +0100

The Forum of Private Business (FPB) has commented on the measures outlined in today’s Queen’s Speech.

High Court orders return of Â£32m stolen from pension funds

Tue, 25 May 2010 15:29:34 +0100

The High Court yesterday ordered the return of £32m stolen from pension schemes in the biggest pensions fraud case since Robert Maxwell. The total fraud was £52m taken from nine pension schemes in 2007 and 2008.

LCH.Clearnet SA becomes FSA authorised Recognised Overseas Clearing House

Tue, 25 May 2010 15:19:50 +0100

LCH.Clearnet SA has been granted Recognised Overseas Clearing House (ROCH) status by the UK Financial Services Authority (FSA). Through this ROCH status, LCH.Clearnet SA is able to conduct any regulated activity in the United Kingdom which is carried out for the purpose of the provision of clearing services.

James Caan's Look4aProperty backed by Hitachi Capital's property loan fund for sellers

Mon, 24 May 2010 17:45:28 +0100

Dragon's Den star James Caan has launched a second major initiative to pump life into the UK housing market.

MCR appointed Administrators to UK magazine distributor Magazine Marketing Company Limited

Mon, 24 May 2010 17:27:50 +0100

Sallyanne Pitt and Paul Clark of MCR were appointed Joint Administrators of Magazine Marketing Company Limited (“MMC”), on Friday 21st May 2010.

Swansea Council launches hard-hitting clampdown on city's 6,000 tax dodgers

Mon, 24 May 2010 17:23:50 +0100

More than 6,000 people who failed to pay their council tax bills on time have been ordered to pay up.

Leasing industry reports first upturn for 18 months

Mon, 24 May 2010 17:15:01 +0100

Figures published today show the first sign of an upturn in investment by British businesses using asset finance. The Finance & Leasing Association’s (FLA) latest figures show that asset finance (leasing and hire purchase) provided to UK businesses for investment in new equipment increased by 11% in March this year compared with the previous year, the first month of year-on-year growth since September 2008.

Small firms can show Whitehall how to do more with less, says Forum

Mon, 24 May 2010 16:47:57 +0100

Government departments could learn from SMEs when trying to manage shrinking budgets, according to the Forum of Private Business (FPB).

Check That Company warns SMBs to stay vigilant as banks continue to keep tight rein on lending

Mon, 24 May 2010 16:41:00 +0100

Check That Company, the online service that gives small businesses (SMBs) a quick and effective way to run credit checks, has warned small businesses to stay on high alert to the dangers of bad debt as the economy recovers.

Fairpoint Group - Trading Update

Mon, 24 May 2010 13:18:28 +0100

In advance of the Company’s Annual General Meeting held today at 1pm at Fairclough House, Adlington, Lancashire, the Company is please to update the market on current trading.

Dukes Bailiffs streamlines information flow for local authorities

Mon, 24 May 2010 13:14:56 +0100

Dukes Bailiffs Limited has purchased the Capita Bailiff Interface in order to streamline the flow of information between local authority clients who have the Academy Revenues system.

Community order for fraudster

Mon, 24 May 2010 13:11:00 +0100

A benefit fraudster who managed to buy five properties while claiming council tax benefit has been handed a community order.

Government announces Â£6.2bn of savings in 2010-11

Mon, 24 May 2010 13:06:25 +0100

Today the Chancellor of the Exchequer George Osborne and Chief Secretary to the Treasury, David Laws announced:

Staff Fraudscape: examining the staff fraud threat in the UK

Mon, 24 May 2010 12:45:58 +0100

CIFAS the UK's Fraud Prevention Service, today releases Staff Fraudscape: a 28-page report that lays bare the frauds recorded by the Members of the CIFAS Staff Fraud Database during 2009. Launched in 2006, the CIFAS Staff Fraud Database is a way for organisations to share information on proven cases of staff fraud in order to prevent further fraud. Staff Fraudscape is a first of its kind: examining and revealing the realities of staff fraud in the UK today.

OFT joins campaign to stop loan sharks

Mon, 24 May 2010 12:28:53 +0100

The Office of Fair Trading (OFT) is taking part in a campaign to warn people of the dangers of loan sharks that charge exorbitant interest and use violence and threats to enforce debts.

A new breed of mortgage lender is launched

Mon, 24 May 2010 11:48:03 +0100

Today the team at Exact Mortgage Experts announced they have launched a brand new lender called Precise Mortgages, focusing on the buy to let market.

Hitachi Capital Consumer Finance appointed by energy giant British Gas

Sat, 22 May 2010 10:08:49 +0100

Hitachi Capital Consumer Finance, one of the UK's leading point of sale finance providers, has been appointed to provide the nation’s leading energy supplier, British Gas with innovative finance solutions to facilitate sales across its boiler and central heating offering.

Tribute paid to cash machine inventor John Shepherd-Barron

Sat, 22 May 2010 09:57:31 +0100

John Shepherd-Barron, the man credited with inventing the world’s first cash machine, has died at the age of 84. Mr Shepherd-Barron’s invention has transformed the way that we get hold of our cash, not just for us in the UK but for people across the world. From humble beginnings, the cash machine has grown to the extent that last year UK cardholders withdrew £193 billion from cash machines.

MCR appointed Administrators to Art Founders Limited t/a Morris Singer Art Foundry

Sat, 22 May 2010 09:51:00 +0100

Matt Bond and Jason Godefroy of MCR were appointed as Joint Administrators of Art Founders Limited t/a Morris Singer Art Foundry on 14 May 2010.

MBNA Customers Raise More Than Â£820,000 for Haiti

Sat, 22 May 2010 09:47:16 +0100

Generous MBNA customers have donated more than £820,000 to the Haiti relief effort.

Absolute targets East of Scotland expansion with latest appointment

Sat, 22 May 2010 09:42:51 +0100

Absolute Invoice Finance (“Absolute”), the specialist business financier, has appointed Robert Muir as Associate Director to its Scotland office, to support the company’s expansion into the East of Scotland.

P&A Receivables warns that EC plans could lead to chaos in the IT industry

Sat, 22 May 2010 09:34:49 +0100

P&A Receivables, the leading credit management and debt collection service provider to the IT industry, has slammed the EC’s plans to make small firms exempt from filing accounts as a recipe for chaos in the IT industry.

CML publishes April gross mortgage lending data and calls for funding issues to be addressed

Sat, 22 May 2010 09:29:42 +0100

Gross mortgage lending declined to an estimated £10.2 billion in April, down 12% from £11.6 billion in March and 1% from £10.3 billion in April 2009, according to new data from the Council of Mortgage Lenders (CML). This is the lowest April total since 2000 (£9.3 billion).

Experian analysis highlights impact of recession on UK consumers in 2009

Sat, 22 May 2010 09:25:36 +0100

New analysis from Experian®, the global information services company, reveals a sharp increase in personal insolvencies among middle-class professionals and the super rich during 2009.

Baines and Ernst welcomes ban on Orders for Sale

Sat, 22 May 2010 09:20:13 +0100

Debt solutions experts Baines and Ernst have welcomed the announcement that the Coalition Government plans to ban order for sale where the debts are for sums of less than £25,000.

Fraction of Ombudsman Complaints about Credit Unions

Sat, 22 May 2010 09:17:04 +0100

The Financial Ombudsman Service’s (FOS) Annual Report has once more affirmed the level of satisfaction members have with credit union services.

R3 responds to Governmentâs consumer protection announcement

Thu, 20 May 2010 19:53:35 +0100

“We welcome today’s announcement by the new Conservative and Liberal Democrat coalition to ban excessive interest rates on credit and store cards as well as introducing a seven-day "cooling-off period" for store cards.

Coface announces a positive result for all of its businesses in the 1st quarter

Thu, 20 May 2010 19:47:25 +0100

The turnaround in Coface's accounts, which started in the 4th quarter of 2009, is confirmed in the 1st quarter of 2010 with net income of €15m thanks to the Insurance line becoming profitable again, €401m in turnover driven by factoring, and on the recovery compared to the 4th quarter of 2009 and reinforced financial solidity thanks to these positive results, an improvement in the risk profile and a €175m capital increase.

REDTRAYâs new ALTO learning portal for compliance managers reduces compliance risk

Thu, 20 May 2010 19:32:27 +0100

REDTRAY Ltd, one of Europe’s leading IT Training Outsourcing providers, launches ALTO v2.0, a new online portal that enables compliance managers to reduce the financial and regulatory compliance risk through comprehensive tracking and detailed reporting of training programmes.

Forum reacts to release of full coalition agreement

Thu, 20 May 2010 19:25:02 +0100

The Forum of Private Business (FPB) has reacted to the publication of the full coalition agreement between the Conservative and Liberal Democrat parties.

Communisis plc and Equifax Ltd announce partnership

Thu, 20 May 2010 19:19:54 +0100

Leading marketing services provider Communisis and Equifax have today announced a strategic partnership in the UK.

Ombudsman Service publishes annual review of personal finance disputes

Wed, 19 May 2010 17:48:55 +0100

The Financial Ombudsman Service – the independent organisation that settles disputes between consumers and financial companies – today publishes its annual review covering the 2009/10 financial year. The review shows that during the year, the ombudsman:

COA Solutions and Experian Payments Partnership to check the validity of payments data

Wed, 19 May 2010 17:21:10 +0100

Business management and information systems provider, COA Solutions, has announced its partnership with payment software provider, Experian Payments.

Equifax adds Prompt Payment Code to business reports

Wed, 19 May 2010 17:05:05 +0100

Leading business information expert, Equifax, is focusing on supporting businesses in the current difficult trading climate with its latest initiative. Prompt Payment Code approved signatories are being included in Equifax commercial reports, providing business users with a quick and easy to interpret guide of the payment behaviours of potential customers and other commercial partners.

A third of those in formal insolvency procedures are harassed by creditors

Wed, 19 May 2010 16:57:40 +0100

Figures released by R3, the insolvency trade body, reveal that 31% of those in statutory insolvency procedures are still being contacted by those they owe money to. This is made up of 44% of those who have filed for bankruptcy and 25% of those in an IVA.

Financial Inclusion and Ethnicity

Wed, 19 May 2010 09:54:07 +0100

Thinktank, Runnymede has published a report arguing that people from Black and Minority Ethnic (BME) backgrounds are more likely to be unemployed or living in income poverty than the wider population and many are socially marginalized because of language and cultural differences.

Hagley woman pays high price for fraud

Wed, 19 May 2010 09:30:47 +0100

A Hagley woman is paying a high price for a £1,500 benefit fraud after she was found guilty of dishonesty.

Family of benefit cheats believed to have fled the country

Wed, 19 May 2010 09:27:11 +0100

Warrants have been issued for the arrest of a family of benefit cheats believed to have skipped the country during their trial for dishonestly claiming more than £30,000 in housing and council tax benefit.

FSA contacts 38,000 people to warn them they are targets of boiler room share fraudsters

Wed, 19 May 2010 09:24:17 +0100

The Financial Services Authority (FSA) is contacting more than 38,000 people across the UK to warn them that they could be the target of share fraud after it recovered a master list used by boiler room fraudsters.

CIG takes on cycle challenge for NSPCCâs Childâs Voice Appeal

Wed, 19 May 2010 08:27:00 +0100

Callcredit Information Group (CIG) has rallied a team of keen cyclists to take part in the Coast-to-Coast Cycle Challenge in a bid to raise £10,000 for the NSPCC’s Child Voice Appeal. Taking place on June 24th-25th 2010, six staff and twenty four clients of the Leeds-based credit and marketing solutions company will ride a gruelling 135 miles.

New ACEA chairman foresees many changes in the collection and enforcement industry

Wed, 19 May 2010 08:23:05 +0100

Colin Naylor, Managing Director of Dukes Bailiffs, is the new chairman of ACEA (the Association of Civil Enforcement Agencies), the organisation which now represents not only the vast majority of bailiff companies but has recently introduced a new category of private membership.

MBNA Launches New Mobile Banking Text Service

Wed, 19 May 2010 08:15:36 +0100

A new mobile phone service enabling UK customers to text for their credit card information has been launched by MBNA.

Debt management solution for borrowers and brokers affected by unenforceable credit agreements

Wed, 19 May 2010 08:11:19 +0100

Blu Debt Management has seen a steep increase in the number of mortgage brokers seeking debt management help for clients who had been involved in challenging the terms of their credit agreements.

Debt reduction plans backed by three quarters of small firms

Wed, 19 May 2010 08:07:15 +0100

More than three quarters of small firms back moves to tackle Britain’s record deficit, a new Forum of Private Business (FPB) survey has found.

Target Loan Servicing enables new lending for Link Loans

Mon, 17 May 2010 18:09:26 +0100

Secured lender, Link Loans, is the first client to sign up to Target’s ‘Lender Launchpad’ - a service that offers new lenders the assurance of long term control of funds and a flexible, cost effective and rapid launch platform. This new contract adds to Target’s list of software and servicing clients who are originating new loan business.

Albany Software in strategic alliance with Travelex Global Business Payments

Mon, 17 May 2010 18:01:19 +0100

Albany Software, the market leading developer of electronic payment software solutions for domestic payments, today announces its strategic alliance with Travelex Global Business Payments, a business division of Travelex the world’s largest non-bank international payments specialist, to deliver GlobalPay.

Ash Cloud Fails to Deter Credit Managers

Mon, 17 May 2010 16:32:25 +0100

As ash from the volcano Eyjafjallajökull in Iceland continues to cause havoc with flights across Europe, Lovetts, one of the UK’s leading debt recovery law firms is experiencing unprecedented demand for CaseManager its online tool to manage and monitor debt recovery cases.

March sees continued growth in house purchase activity

Mon, 17 May 2010 12:51:14 +0100

House purchase lending increased by 45% year on year in March, making it the ninth consecutive month of year-on-year growth, according to figures released today by the Council of Mortgage Lenders (CML). Remortgaging, however, was 29% down year on year, the 23rd consecutive annual fall. This plainly shows the continuing trend of recovering house purchase activity but a moribund remortgage market.

Chancellor announces date of emergency Budget

Mon, 17 May 2010 12:07:46 +0100

The emergency Budget will be held on Tuesday 22 June, the Chancellor announced today.

Absolute Invoice Finance strengthens central risk team

Fri, 14 May 2010 17:17:54 +0100

Absolute Invoice Finance (“Absolute”), the specialist business financier, has appointed Stephen Harpur as central risk manager, as the business continues to bolster its growing central risk team.

Commitment to abolish HIPs is great news, but action needed now

Fri, 14 May 2010 16:21:56 +0100

The National Association of Estate Agents (NAEA) have welcomed the news that the new Government is committed to abolishing Home Information Packs (HIPs).

CC confirms case for Point-of-Sale prohibition for PPI

Fri, 14 May 2010 16:05:20 +0100

The Competition Commission (CC) has provisionally decided that consumers will benefit from the introduction of a point-of-sale prohibition for all forms of payment protection insurance (PPI), with the exception of retail PPI.

Statement regarding Competition Commission's decision on prohibition of point of sale PPI

Fri, 14 May 2010 15:12:04 +0100

The British Bankers Association (BBA) has issued the following comment: "We are very disappointed that the Competition Commission has decided to pursue a point of sale prohibition for payment protection insurance products.

Debt Advice Foundation Challenges New Coalition On Consumer Debt Strategy

Fri, 14 May 2010 12:41:53 +0100

As the nation prepares for its first coalition Government for 70 years and with official figures released this week showing personal insolvency at record levels, Debt Advice Foundation, a national debt advice charity is asking how the new UK Government will tackle the country’s growing consumer debt crisis.

BNP Paribas acts as joint bookrunner on $425m of natural catastrophe bonds for Lodestone Re Ltd.

Fri, 14 May 2010 12:29:47 +0100

BNP Paribas, as joint bookrunner, has placed $425m of catastrophe bonds, in two tranches, for Lodestone Re Ltd. Risk Management Solutions modelled the natural catastrophe risk.

Creditors spending Â£50 million a year administering bankrupt accounts

Fri, 14 May 2010 12:11:07 +0100

A new report by TDX Group, the UK’s leading provider of analytics-based debt management products and solutions reveals that creditors are spending over £50 million a year on administering bankrupt accounts, an 35% increase in the past two years as volumes soar and returns plummet.

New head of collections at LaSer UK

Fri, 14 May 2010 12:04:12 +0100

LaSer UK, the Solihull-based leading provider of credit and customer marketing programmes, has appointed Derek Pinches as its new Head of Collections to oversee the management and development of its recently in sourced Collections functions.

BCC comments on appointment of Vince Cable as Business Secretary

Fri, 14 May 2010 09:54:14 +0100

Commenting on Vince Cable’s new appointment as Business Secretary, David Frost, Director General of the British Chambers of Commerce (BCC), said:

Buy-to-let activity settles after stamp duty holiday

Thu, 13 May 2010 17:54:48 +0100

Data published today by the Council of Mortgage Lenders (CML) shows that buy-to-let activity in the first three months of this year settled back to former levels, following a modest upturn in house purchase by investors at the end of last year triggered by the stamp duty holiday. As a result, the number of buy-to-let loans declined by 15% to 22,000 in the first three months of 2010. Over the same period, the value of lending also declined, by 12% to £2.1 billion.

âRepossessions down but still an issueâ

Thu, 13 May 2010 17:50:43 +0100

Figures published today by the Council of Mortgage Lenders (CML) show that the number of repossessions in the first quarter of this year reached 9,800 – down 8% from 10,600 in the final quarter in 2009 and down from 13,200 on the corresponding quarter of 2009.

Arrears and repossessions down, but vulnerability remains

Thu, 13 May 2010 17:45:25 +0100

The number of mortgages in arrears and the number of repossessions both fell in the first quarter of 2010, according to the Council of Mortgage Lenders (CML). But this welcome decline gives no cause for complacency as a large number of households, who are just coping, still remain vulnerable to shocks that may arise from the economic uncertainty ahead.

BSA advises new Government to introduce long term support for those at risk of repossession

Thu, 13 May 2010 17:39:52 +0100

The Building Societies Association (BSA), The Council of Mortgage Lenders, Citizens Advice and Shelter and have today written to the new Chancellor, George Osbourne and the new Business Secretary, Vince Cable, urging the Government to make a clear commitment in its first budget to continue to support homeowners in financial difficulty.

Second-charge mortgage repossessions down by a third

Thu, 13 May 2010 17:33:03 +0100

Repossessions for second-charge mortgages are down by a third in the first quarter of 2010, compared with Q1 2009 according to latest figures from the Finance & Leasing Association (FLA).

Recruitment firm on fighting form

Thu, 13 May 2010 16:46:29 +0100

A leading recruitment firm to the construction industry, Allander Consulting Limited, is looking to capitalise on opportunities in the renewable energy sector after securing £150,000 funding from Absolute Invoice Finance (“Absolute”).

CHL reveals improving arrears situation

Thu, 13 May 2010 09:34:42 +0100

Specialist lender, CHL Mortgages, has today revealed further improvements in early and late arrears across its entire buy-to-let and homeloan mortgage book.

New national insurance policy 'better for small firms and jobs'

Wed, 12 May 2010 17:36:48 +0100

The Forum of private Business (FPB) is welcoming the new Liberal Democrat and Conservative coalition government’s decision to scrap the planned 1% hike in employers’ national insurance (NI) for many staff members, a policy that had been met with strong opposition from business groups.

Assisted Self Help Scheme "CASHflow" wins award

Wed, 12 May 2010 17:00:33 +0100

A new service called 'CASHflow' which was launched in March by the Money Advice Trust (MAT) and various other partners, to assist individuals who are keen to negotiate debt repayment plans, has won an award.

BSA Welcomes Commitment to Mutuals in Coalition Agreement

Wed, 12 May 2010 16:26:38 +0100

The Building Societies Association (BSA) today welcomed the commitment in the Conservative/Liberal Democrat Coalition agreement to bring forward detailed proposals to foster diversity, promote mutuals and create a more competitive banking industry. The Association looks forward to commenting on the proposals, and joining the discussions on how the mutual sector can play an enhanced role.

R3 comments on todayâs unemployment figures

Wed, 12 May 2010 16:22:05 +0100

"The rise in unemployment is, sadly, unsurprising; unemployment is a factor that can trigger personal insolvency and, last week the official insolvency statistics recorded a rise in personal insolvencies.

Co-operatives UK press statement on the new coalition government

Wed, 12 May 2010 16:15:46 +0100

In response to new UK Prime Minister David Cameron forming a historic coalition with the Liberal Democrats, Ed Mayo, Secretary General of Co�operatives UK, said:

Business group welcomes new PM and imminent Tory/Lib Dem coalition

Tue, 11 May 2010 22:39:41 +0100

The Forum of Private Business (FPB) has given a cautious welcome to the appointment of the new Prime Minister, David Cameron, and his stated intention to form a coalition government between his party and the Liberal Democrats.

FSA complaints data for H2 2009 reveals increase caused by back-dated bank charges complaints

Tue, 11 May 2010 18:15:35 +0100

The Financial Services Authority (FSA) has today published its latest data on the aggregate number of complaints. The data, which firms are required to report to the FSA every six months, shows the volume of complaints regulated firms have received, how they have been handled and the amount of redress paid, split into product group and firm type.

Distressed business alert service launched

Tue, 11 May 2010 18:10:02 +0100

A distressed business alert service has been has launched by Business-sale.com. Every weekday, email alerts are sent through to subscribers listing all UK businesses that have had winding-up petitions lodged against them. Another email alert lists all companies that have had administrators appointed. This gives credit controllers and entrepreneurs a useful advance warning of businesses in financial difficulty.

The Law Society endorses The Association of British Investigators

Tue, 11 May 2010 17:59:26 +0100

The Law Society, the representative body for the solicitor’s profession in England and Wales, has today endorsed The Association of British Investigators (ABI) by recommending to its own solicitor members the use of ABI members for the provision of private investigation services as a means of mitigating risk, based on the ABI’s vetting procedures.

Equifax launches Book Analyser for debt purchasers

Tue, 11 May 2010 17:55:34 +0100

Debt purchasers face many challenges understanding the potential performance and quality of a debt book before they buy it.

Marston Group appoints Neil Jinks as High Court Client Relationship Manager

Tue, 11 May 2010 17:42:48 +0100

Marston Group is pleased to announce it has appointed Neil Jinks as its High Court Client Relationship Manager.

Political leaders must help the MPC to sustain fragile recovery

Mon, 10 May 2010 18:00:21 +0100

Commenting on today’s Monetary Policy Committee (MPC) decision, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

European written off debt reaches â¬300 billion â equivalent to the national debt of Greece

Mon, 10 May 2010 17:50:17 +0100

Research to be released tomorrow in Brussels by leading credit management services company Intrum Justitia is set to show that European written off debt – monies owed to a business in the region but never paid – has reached the record level of €300 billion – a figure equal to Greece's national debt. This is an 8% rise on the levels recorded in 2009.

BBA Small Business Support - March figures

Mon, 10 May 2010 17:39:34 +0100

British Bankers Association (BBA) statistics director, David Dooks, said of the latest data:

Can debt advice charities cope with demand?

Mon, 10 May 2010 17:29:04 +0100

Leading debt solutions provider, Atlantic Financial Management, is warning that the growing number of people struggling to manage their finances may be finding it difficult to get assistance from the debt advice charities, as one reports* a 34% year on year increase in the number of calls received in the first Quarter of 2010.

Money Advice Trust boosts its governance

Mon, 10 May 2010 16:56:28 +0100

The Money Advice Trust (MAT) is delighted to announce the appointment of three new Trustees to complement the skills and experience of its current board.

25% of available mortgages are restricted to existing customers

Mon, 10 May 2010 15:50:26 +0100

Independent financial research from Defaqto shows that while the number of mortgage products available has increased to 2,948 from only 1,686 in July 2009, over a quarter of the mortgages available today are restricted to the lender’s existing customers.

Euler Hermes results for the first quarter of 2010

Mon, 10 May 2010 15:44:35 +0100

Despite the fragile economic recovery Euler Hermes posted a quarter on quarter increase in turnover of 3.5% compared to the fourth quarter of 2009. The group achieved a positive net income development of €47.6 million versus €16.5 million for the first quarter of 2009. The combined ratio improved significantly from 103.0% to 90.0% due to decisive management actions to handle the global financial crisis and improvement in economic environment.

New managing director appointed for Equifax UK business

Mon, 10 May 2010 15:33:26 +0100

Equifax, a leading provider of consumer credit and business risk management and marketing services, has announced the appointment of a new Managing Director for its UK business.

Santander signs new credit data and analytics deal with Experian

Mon, 10 May 2010 15:27:11 +0100

Experian®, the global information services company, today announces that it has signed a three year deal with Santander to provide consumer and commercial credit information to the banking group’s UK operation.

How will parliament hang with UK consumer debt?

Fri, 07 May 2010 17:11:39 +0100

As the nation prepares for its first hung parliament since 1974, a national debt charity is asking how the Government will tackle the country’s growing consumer debt crisis – with figures released today showing personal insolvency at a record level.

R3 comments on the insolvency statistics for Q1

Fri, 07 May 2010 17:04:55 +0100

Corporate insolvency - Today’s drop in corporate insolvencies comes a surprise to many and masks a large number of corporate insolvencies that have yet to come through the system.

Small firms urgently need post-election certainty, warns business group

Fri, 07 May 2010 16:57:41 +0100

The Forum of Private Business (FPB) has commented on the high likelihood of a hung Parliament.

Armed street mugger no match for âDukes Manâ Gary

Fri, 07 May 2010 16:54:41 +0100

Bailiff Gary Sandy provided his profession with a fine role model yesterday, when he intervened to stop an elderly woman driver being mugged for her mobile phone.

Glasgow council tax collection figure reaches all-time high

Fri, 07 May 2010 09:41:39 +0100

Record numbers of Glaswegians are paying their council tax, it has been revealed.

Disabled gran's Â£35,000 benefit fiddle

Fri, 07 May 2010 09:40:17 +0100

A disabled grandmother who swindled over £35,000 in benefits has been ordered to pay back what is left of her fraud – or face going to prison.

Mutuals well placed to prosper, but capital reform must be addressed

Thu, 06 May 2010 17:56:57 +0100

Against a backdrop of financial instability, uncertainty and recession, building societies and the wider mutual sector have generally coped well with the pressures, continuing to offer good value and quality service to their members. However, there is no room for complacency; challenges remain and a solution to mutuals’ capital requirements must be found. This was the message from Graham Beale, BSA Chairman and Chief Executive of Nationwide Building Society, to the BSA Annual C ...

BSI expands international dimension to risk management with the adoption of ISO 31000

Thu, 06 May 2010 17:50:07 +0100

Appropriate risk management (RM) lets organizations discover untapped opportunities as well as maintain their current business. There are many tools to achieve this but not many come with the support and development of an international group of experts plus a tailored view for the UK. In March 2010, BSI adopted the international standard ISO 31000 Risk management: Principles and guidelines into BSI’s existing RM portfolio. BS ISO 31000 is useful for all organizations, regardless of type an ...

Office move sees Absolute take 4,057 sqft. in Maidstone business park

Thu, 06 May 2010 17:41:09 +0100

Absolute Invoice Finance (“Absolute”), the specialist business financier, has taken 4,057 sqft. at the prestigious Turkey Mill business park in Maidstone. The move to significantly larger premises follows the expansion of Absolute’s sales and management teams in the region.

âDonât forget the private sectorâ, urges The Debt Advisor

Thu, 06 May 2010 17:37:33 +0100

Figures published on Friday by the Insolvency Service are likely to show that, despite emerging from recession, the nation’s people are still well and truly in debt.

Senior public servant and insurance figure are appointed to CIFAS board

Thu, 06 May 2010 17:30:51 +0100

CIFAS – the UK’s Fraud Prevention Service have appointed the former Director of the Assets Recovery Agency, Jane Earl, and Chris McKee, former Technical Services Director of RBS Insurance, as independent directors on their board of directors.

Mutuals optimistic as they stand up to challenges in 2010

Thu, 06 May 2010 17:24:45 +0100

58% of mutual Chief Executives say they are optimistic about the year ahead, and are less at the mercy of events beyond their control than they have been in the last two years. At the same time Chief Executives acknowledge the coming year will present challenges, including pressure on margins from unprecedentedly low interest rates.

Equifax launches Book Analyser for debt purchasers

Thu, 06 May 2010 17:20:27 +0100

Debt purchasers face many challenges understanding the potential performance and quality of a debt book before they buy it. The unstable economy over the last few years has meant that purchasing books at the right price is now more business critical than ever, for both the seller and buyer. Tackling this challenge, leading credit information and debtor management solutions provider, Equifax has extended its Debtor Management Solutions to include a specific Book Analyser tool.

New BSA Chairman elected

Thu, 06 May 2010 17:15:09 +0100

David Webster, Chief Executive of Hanley Economic Building Society has been elected Chairman of the Building Societies Association (BSA) for 2010/11. He replaces Graham Beale, Chief Executive of Nationwide Building Society, who has held the post for the past year.

As voters go to the polls, business confidence continues to rise

Thu, 06 May 2010 17:09:40 +0100

Leading business information expert, Equifax, has reported a nearly 3% drop in the number of businesses going bust in April 2010 compared to March.

Black Horse Finance director is new FLA chairman

Thu, 06 May 2010 17:05:08 +0100

Chris Sutton of Black Horse Consumer and Motor Finance has been elected Chairman of the Finance & Leasing Association (FLA) with effect from 6 May 2010. Chris takes over the Chairmanship from David Betteley, Director of Financial Services at Jaguar Land Rover, who is standing down as FLA Chairman after three years.

ING Commercial Banking makes key hire in Syndicated Finance team

Thu, 06 May 2010 16:59:54 +0100

ING Commercial Banking has hired Kim Bailes as a Senior Sales Director in its London based Syndicated Finance team.

Unsecured lending rates increase despite low base rate

Wed, 05 May 2010 19:58:26 +0100

Independent financial research company Defaqto highlights the increased cost of unsecured loans.

Azule Finance celebrates Â£50 million milestone in Export Finance Division

Wed, 05 May 2010 19:54:45 +0100

Azule Financ today released figures from its Export Finance division, which demonstrated its success in expanding its bespoke finance and consultancy solutions beyond the broadcast industry. In just eight months, the division that is spearheaded by Managing Director Emma Nelson, has reported over £50 million turnover. The rapid growth of the Export Finance division proves the appetite for niche export finance, consultancy and training for the broadcast industry and beyond.

Survey: Financial institutions regaining confidence, but barriers to risk management remain

Wed, 05 May 2010 19:47:44 +0100

Banks and insurers are increasingly optimistic and have come far in strengthening risk management. Yet, regulatory compliance may distract attention from emerging risks while the prevalence of a silo-based approach at several organisations hampers risk management at an enterprise-wide level. So finds a survey of 346 senior risk management executives in the financial services industry conducted in February 2010 by the Economist Intelligence Unit (EIU) for SAS, the leader in business analytics sof ...

VocaLink Take Home Pay Index reverses recent increase hitting record low in April

Wed, 05 May 2010 19:38:40 +0100

The VocaLink Take Home Pay Index reflects the continuing uncertainty in the UK labour market as it drops to its lowest level on record of 0.9 per cent. The Index has now fallen below its previous lowest level of 1.0 per cent recorded in February this year.

David Bell joins Arum

Wed, 05 May 2010 19:33:37 +0100

Credit management specialist, Arum, has appointed David Bell as Senior Credit & Collections Business Consultant with effect from 19 April 2010.

EOS Group acquires True North AR in the U.S.

Wed, 05 May 2010 19:25:46 +0100

As of 30 April 2010, the international EOS Group, an Otto Group company, acquired 100 per cent of the stakes in the U.S.-American company True North AR, LLC. Established in 1968, True North provides healthcare revenue cycle solutions and debt collection services to county and municipal courts, government and other businesses.

Real Life Skills for Real Life Apprentices

Wed, 05 May 2010 19:20:34 +0100

Salford City Reds are delighted to announce that Ideal Solutions Group (ISG) is the official sponsor of Salford City Reds Academy and youth teams for the 2010 season.

UK Debt Statistics - May 2010

Tue, 04 May 2010 18:25:22 +0100

The latest UK debt statistics from Credit Action show that total UK personal debt at the end of March 2010 stood at £1,460bn. The twelve-month growth was 0.9%. Individuals owe more than what the whole country produces in a year.

LINK cash withdrawals - May Day weekend 2010 records

Tue, 04 May 2010 18:18:27 +0100

Friday 30 April was the busiest day ever for LINK cash withdrawals with £590 million withdrawn, beating the previous record, which was on Christmas Eve 2009, by £25 million. Over £1.5 billion had been withdrawn by the end of the Bank Holiday weekend, an increase of 9% on the same period in 2009.

Digital Voice Recording and integration of IPPBX with DialIntelligence

Tue, 04 May 2010 18:09:41 +0100

DialConnection, LLC, an international leader in providing the All-Inclusive DialIntelligence Contact Center Solution, has been providing their call recording suite for almost a decade and now provides client’s the ability to integrate their IP-PBX so all calls can be recorded, stored and dynamically retrieved in one compliant solution.

Small businesses see election as platform for change but feel threatened by uncertainty

Tue, 04 May 2010 17:58:04 +0100

Business owners see Thursday’s election as an opportunity to change Britain’s enterprise culture for the better, with one in five intending to vote for the party they hope will manage the economy most effectively, according to new research from the Forum of Private Business (FPB).

Now is not the time for banks 'to complain about tighter controls'

Tue, 04 May 2010 17:41:53 +0100

“This is not the time for banks to be complaining about tighter regulatory controls, it is the time for them to be lending to good British businesses," said the Liberal Democrat Shadow Chancellor.

IMFS announces expansion programme

Tue, 04 May 2010 12:57:52 +0100

As part of the current expansion programme at Improved Financial Solutions Ltd (IMFS), several new appointments and promotions have recently take place.

Gross lending at mutuals up 36% in March

Tue, 04 May 2010 12:16:07 +0100

Latest figures from the Building Societies Association (BSA), show that gross lending by mutuals increased to £1,597 million in March, up 36% compared to £1,174 million in February. Approvals were also stronger at £1,677 million compared to £1,389 million in February – a 21% increase.

Tax cheats blitz brings windfall

Tue, 04 May 2010 09:36:12 +0100

A blitz against council tax cheats has raised £1.3m for vital local services across Leicestershire.

Council tax collection rate is at its highest ever

Tue, 04 May 2010 09:32:07 +0100

More people in Glasgow than ever before are paying their council tax.

Mutuals retain customer service crown

Fri, 30 Apr 2010 17:26:52 +0100

Mutuals have consistently outperformed plc banks across various aspects of customer service, including treating customers fairly, value for money and being trusted to give good advice. These are the findings of independent research from GfK NOP, published today by the Building Societies Association (BSA).

UK Co-operative sector announces first-ever Co-operatives Fortnight

Fri, 30 Apr 2010 16:32:01 +0100

Ed Mayo, Secretary General of Co-operatives UK, has today announced the launch of a major sector-wide campaign – Co-operatives Fortnight (19 June to 3 July 2010) – to spread the message about the co-operative alternative across the UK.

FSA bans three individuals and fines a fourth for mortgage fraud and advice failings

Fri, 30 Apr 2010 12:48:54 +0100

The Financial Services Authority (FSA) today announced it has banned three mortgage brokers from working in regulated financial services; another individual has been fined £17,500.

Bermans recruit new head of recoveries

Fri, 30 Apr 2010 12:31:22 +0100

Leasing specialist lawyers Bermans have recruited Ian Lambert as Head of Recoveries.

OFT drops a number of allegations against Tesco in Dairy investigation

Fri, 30 Apr 2010 12:24:41 +0100

The Office of Fair Trading (OFT) has decided to drop certain allegations against Tesco as part of its Dairy investigation, at the same time as agreeing a penalty discount in recognition of Tesco notifying the OFT that it does not intend to contest the remaining aspects.

OFT update on Dairy investigation

Fri, 30 Apr 2010 12:20:22 +0100

The Office of Fair Trading (OFT) has today published an update on its Dairy investigation (alongside a separate announcement that the OFT has today made in relation to Tesco).

Continued rise in calls to debt charityâs helpline highlights need for telephone counselling

Fri, 30 Apr 2010 12:11:27 +0100

Leading debt charity Consumer Credit Counselling Service (CCCS) has seen a sharp rise in calls to its helpline in the first three months of the year. Over 93,000 people called it for help with their debts in quarter one 2010.

Aktiv Kapital acquire portfolio in UK

Fri, 30 Apr 2010 12:05:19 +0100

Aktiv Kapital has signed a portfolio purchase with a face value in excess of £75 million.

Benefits cheat found guilty

Fri, 30 Apr 2010 11:33:18 +0100

A cheat who falsely claimed benefits despite having several bank accounts and properties has been found guilty.

Woman sent to prison for Â£34,200 benefit fraud

Fri, 30 Apr 2010 11:31:39 +0100

A woman from Westbourne who falsely claimed £34,200 in benefits has been sent to prison.

Kidderminster benefit cheat sentenced to unpaid work

Fri, 30 Apr 2010 11:30:05 +0100

A Kidderminster woman has been sentenced to a 12-month Community Punishment Order and 100 hours of unpaid work after she falsely claimed more than £10,000 in benefits.

Care provider accelerates growth with Absolute funding

Thu, 29 Apr 2010 15:56:58 +0100

Gray Healthcare, a leading UK provider of specialist domiciliary care and support services to patients with complex mental health needs, is aiming to dramatically increase headcount over the next three years having secured a £300,000 funding line from Absolute Invoice Finance (“Absolute”).

First impressions from Natalie Ceeney, chief ombudsman, FOS

Thu, 29 Apr 2010 15:32:05 +0100

I have just completed my first month at the ombudsman service. During that time, as well as getting to know the different teams here, I’ve been busy starting to meet some of our key external stakeholders – including financial businesses, trade bodies and groups that work to support consumers. I have been receiving a great deal of positive feedback and I am looking forward to meeting more of our stakeholders over the coming months.

New wave of security breaches hitting UK businesses costing them billions, new report shows

Thu, 29 Apr 2010 15:11:51 +0100

After declining in number for the last few years, a new wave of security breaches is hitting UK organisations, costing them billions of pounds, despite the fact that security remains high on management’s agenda and the recession has not dampened spending on security, according to a survey released today by PricewaterhouseCoopers LLP (PwC) at Infosecurity Europe.

Ministry of Justice Orders for Sale Consultation - Response by the BSA

Thu, 29 Apr 2010 14:57:53 +0100

On 5 February 2010, Ministry of Justice (MOJ) published a consultation paper on whether to impose a minimum threshold in applications for orders for sale in debts regulated by the Consumer Credit Act.

Equifax Reports First Quarter 2010 Results

Thu, 29 Apr 2010 13:00:30 +0100

Equifax Inc. today announced financial results for the quarter ended March 31, 2010. The company reported revenue of $461.3 million in the first quarter of 2010, a 3 percent increase from the first quarter of 2009. Revenue was unchanged from the prior year when adjusted for the favorable effect of foreign exchange rates.

Fraud continues to pose problems in 2010

Thu, 29 Apr 2010 11:58:37 +0100

The analysis of fraud trends during the first quarter of 2010 by CIFAS - The UK's Fraud Prevention Service - reveals some notable facts: - a 19.86% increase in identity fraud when compared with the same period in 2009, - the number of victims of impersonation increased by over 20% compared with the first quarter of 2009, and - overall fraud levels remain consistent, with nearly 60,000 proven frauds identified in the first three months of 2010. ...

Exact Passes Â£5bn on Mortgage Due Diligence Service

Thu, 29 Apr 2010 11:07:11 +0100

Exact, the third party mortgage service provider has just completed its latest due diligence exercise on a large pool of mortgages that takes the total to over £5billion in the last two years.

New Government must create viable alternative to bank lending to address ongoing funding issues

Thu, 29 Apr 2010 10:40:03 +0100

The Liberal Democrats’ election pledge to re-establish the UK’s network of regional stock exchanges should be adopted by whichever party forms the next Government in order to provide an additional source of funding for businesses, says commercial credit referencing agency Graydon UK.

Aktiv Kapital- 1st quarter 2010 results

Thu, 29 Apr 2010 09:34:18 +0100

Aktiv Kapital reports first quarter 2010 portfolio collection of NOK 371.9 million, compared with NOK 491.2 million in the first quarter 2009. As a consequence of few portfolio acquisitions, this decrease is in line with expectations. Operating profit was NOK 104.3 million for the quarter, compared with NOK 123.1 million the same period last year. Moving forward, Aktiv Kapital will continue to focus on operational improvements and seek attractive portfolio acquisition opportunities.

Forum helps party leaders brush up on small business issues ahead of tonightâs TV debate

Thu, 29 Apr 2010 09:22:25 +0100

The Forum of Private Business (FPB) has sent all would-be MPs a special guide outlining key facts and figures regarding small and medium-sized enterprises (SMEs).

Government run agency least supportive of exporters amongst worldâs main trading nations

Thu, 29 Apr 2010 00:01:00 +0100

Britain’s government run export finance and insurance support body, the Export Credits Guarantee Department (ECGD), has fallen behind in world terms over the last decade, according to The British Exporters Association (BExA) research.

What small businesses want to hear from the final TV debate

Wed, 28 Apr 2010 18:12:42 +0100

As the leaders of the three main political parties join for the final of the groundbreaking televised debates tomorrow (Thursday 29 April), the Federation of Small Businesses (FSB) has raised key arguments which it believes are vital to strengthening economic recovery that each party leader should answer to.

Statement regarding the FSA bank complaint handling report

Wed, 28 Apr 2010 18:00:41 +0100

Eric Leenders, Executive Director of Retail Banking at the British Bankers Association (BBA) said:

P&A Receivables expects strong turnout for Spring Forums as IT industry looks to new challenges

Wed, 28 Apr 2010 17:38:13 +0100

P&A Receivables, the leading credit management and debt collection service provider to the IT industry, is calling on more senior finance and credit managers to take part in its regular industry Forums to share ideas and experiences, and minimise the risk of business failures by holding back any recovery in the sector over the next six months.

Now we have 'Vishing' and 'SMiShing' to add to the fraud watch-list for 2010

Wed, 28 Apr 2010 17:22:11 +0100

Phishing attacks are on the rise with 51,000 incidents recorded last year – a 16 per cent increase on the amount seen in 2008. Now we have 'Vishing', phishing via the telephone, and 'SMiShing', the use of text messaging as a hook to obtain sensitive information.

Special police unit marks its 8th anniversary with Â£340m of fraud savings

Wed, 28 Apr 2010 17:02:56 +0100

The Dedicated Cheque and Plastic Crime Unit (DCPCU) – the unique bank-sponsored police squad - today announced details of its latest fraud savings, which showed that its work to target organised fraud gangs led to estimated savings of £24.5 million in 2009. Publication of this latest figure coincides with the 8th anniversary of the Unit, which was set up on 29 April 2002.

Target Group introduces âLender Launchpad,â a service innovation that unlocks ...

Wed, 28 Apr 2010 16:57:14 +0100

New lenders face a host of challenges including obtaining wholesale funding, swiftly establishing a stable and compliant operation, designing and implementing systems and recruiting the right team. In parallel wholesale banks are eager to retain long term control of funds, and de-risk the lending decision.

FSA takes tough action against poor complaint handling in banks

Wed, 28 Apr 2010 16:52:04 +0100

The Financial Services Authority (FSA) is taking tough action after finding weaknesses in five banks handling of customer complaints.

BNP Paribas adds to Global MTN platform with appointment of Smit Acharya

Tue, 27 Apr 2010 17:38:34 +0100

BNP Paribas Corporate & Investment Banking (‘BNP Paribas’) is pleased to announce the appointment of Smit Acharya as a Senior MTN Trader to its Global MTN platform. Smit joins BNP Paribas in July 2010 and will report to Marc Falconer, who was recently appointed Global Head of MTNs and Private Placements.

Industry expert joins Equifax as Business Development Director

Tue, 27 Apr 2010 17:31:11 +0100

Leading consumer credit and business information provider, Equifax, has appointed credit industry expert, Neville Seabridge, as its new Business Development Director. The appointment follows the promotion of Rob Cormican, previously in this role, to Marketing Director.

Lovetts pushes power of credit application form to head off late payment

Tue, 27 Apr 2010 16:43:26 +0100

Lovetts Plc, the debt recovery law firm, is urging businesses to re-think their credit application forms (CAF) to give them the best chance of obtaining payments on time. The base document will of course cover the most important information, but Lovetts believes there is a lot more Credit Managers can request which will give them the edge when it comes to chasing up late payments.

Homeowner And Home Improver Data added to Equifax Marketing Data

Tue, 27 Apr 2010 16:08:39 +0100

Leading marketing services data specialist, Equifax, has added two new sets of data to its ConnectSelect consumer marketing database, giving marketers greater ability to focus on key consumer groups at the right time. The new Home Improver dataset gives marketers the ability to identify people who have applied for planning permission while the Homeowner file enables relevant and targeted campaigns specific to this group.

CSA and DBSG annual conference programme announced

Tue, 27 Apr 2010 15:57:48 +0100

The programme for the Credit Services Association (CSA) and Debt Buyers and Sellers Group (DBSG) annual conference 'Leading in an era of change', to be held on September 8th and 9th, has been announced.

Consumer credit too weak to support rate cap interventions

Tue, 27 Apr 2010 15:37:50 +0100

Although the recession officially ended months ago, consumers are still adopting a cautious approach to taking out credit, according to the latest figures published by the Finance & Leasing Association (FLA).

Credit Card Killers issued with Injunction - Optima Legal Comment

Mon, 26 Apr 2010 17:51:15 +0100

Today it has been revealed that an enforcement order against ‘debt sale’ company Momentum Network, which traded as Credit Card Killers, has been obtained.

The Debt Advisor gains DEMSA accreditation

Mon, 26 Apr 2010 16:57:59 +0100

Award-winning Manchester-based insolvency practice, The Debt Advisor, has been accepted as a member of DEMSA (Debt Managers Standard Association).

Growing business unease over prospect of a hung parliament

Mon, 26 Apr 2010 15:51:19 +0100

Nearly two thirds of businesses (65%) are “concerned” or “very concerned” about the potential impact of a hung parliament, according to the British Chambers of Commerce’s (BCC) latest Monthly Business Survey.

AIK - Presentation of Aktiv Kapital's first quarter results 2010

Mon, 26 Apr 2010 15:44:44 +0100

Aktiv Kapital's Q1 2010 results will be released on Thursday 29 April 2010. In connection with the release, a teleconference/webcast will be held as described below:

Injunction secured against 'debt sale' firm

Mon, 26 Apr 2010 15:23:55 +0100

The Office of Fair Trading (OFT) has welcomed an interim Enforcement Order obtained by Birmingham Trading Standards against 'debt sale' company Momentum Network Ltd.

FSA consults on use of certain new powers granted by the Financial Services Act 2010

Mon, 26 Apr 2010 11:53:25 +0100

The Financial Services Authority (FSA) has today issued a consultation paper setting out proposals on using new powers granted by the Financial Services Act 2010.

OFT announces criminal charges against north London credit company

Mon, 26 Apr 2010 11:32:25 +0100

The OFT has brought charges against London North Securities Limited and its director Harvey Collis, accusing them of carrying on a consumer credit business without a licence.

Housing Market Continues to Lose Momentum

Mon, 26 Apr 2010 00:01:00 +0100

Commenting on the monthly national housing survey, Richard Donnell Director of Research said:

Marlin signs investment deal with Duke Street

Fri, 23 Apr 2010 17:45:15 +0100

Marlin, the leading purchaser and manager of consumer debt and a specialist in litigation- based recovery, has agreed to sell a controlling stake to Duke Street, the mid-market private equity group which is growing its financial services platform. Duke Street is set to inject at least £50m into Marlin which will go towards investment and operational support to accelerate the group’s growth as a purchaser and manager of non-performing debt.

Comment from Bibby Financial Services on today's GDP figures

Fri, 23 Apr 2010 17:34:25 +0100

Commenting on the announcement that preliminary data shows UK GDP for Q1 2010 has risen by 0.2 per cent, Edward Rimmer, UK chief executive of Bibby Financial Services said:

Blu Debt Management becomes the debt solutions provider for Home of Choice

Fri, 23 Apr 2010 17:00:18 +0100

Blu Debt Management is now the chosen debt solutions provider to Home of Choice and its members.

New R3 President offers positive messages for struggling firms

Thu, 22 Apr 2010 18:01:39 +0100

Steven Law, head of Business Recovery at Ensors Chartered Accountants in East Anglia, starts as President of R3, the trade body for insolvency professionals on 23 April 2010. He has over 19 years experience in business turnaround, in small to medium sized firms.

Thomson Reuters Strengthens Leadership of its Enterprise Business with Key Executive Appointments

Thu, 22 Apr 2010 17:54:28 +0100

Thomson Reuters today announced the appointments of industry executives David Kelly, Roseann Palmieri and Tanya Ezekiel to the leadership team of the Enterprise business. These strategic appointments demonstrate the investment Thomson Reuters is making to accelerate the existing growth of the Enterprise business and the delivery of its next generation solutions.

Court of Appeal backs Optima Legalâs stance on shortfall debt

Thu, 22 Apr 2010 17:46:27 +0100

Lender specialist Optima Legal has won a Court of Appeal ruling on behalf of client Bradford & Bingley, which it says will strengthen the lender’s position on shortfall debt.

Payments Council and Accenture Launch a Customer Authentication Evaluation Tool

Thu, 22 Apr 2010 17:30:47 +0100

The Payments Council and Accenture have launched a new modelling tool to help banks and businesses select authentication technologies for secure customer interactions online.

Energy now as big a risk as health and safety, say businesses

Thu, 22 Apr 2010 17:24:19 +0100

Energy now presents the same level of risk to businesses as health and safety and security. This is among the findings of npower’s Business Energy Index (nBEI), an annual survey tracking business opinion on energy use and carbon emissions, released today.

Experian launches first monitoring service to proactively find fraud in existing customer accounts

Thu, 22 Apr 2010 17:15:47 +0100

Experian®, the global information services company, today launched the industry’s first fraud detection service to proactively monitor existing customers’ bank and credit account data to pinpoint potential fraud risks before fraudulent transactions are attempted.

Small business turnover reaches a two-year high

Thu, 22 Apr 2010 16:43:45 +0100

Small business turnover reached a 29-month high in March 2010, according to the latest Business Factors Index from Bibby Financial Services.

Hypermonitoring â The inside story delivered to your desktop

Thu, 22 Apr 2010 16:34:56 +0100

It’s a horrible feeling to arrive at work and discover one of your best customers has gone into receivership, and won’t actually be paying for the goods you have just dispatched. And, worse still, after the event it seems that other companies had an inkling it was headed for disaster, why didn’t you?

Experian launches new service to help organisations comply with FSA single customer view requirement

Wed, 21 Apr 2010 09:15:53 +0100

Experian®, the global information services company, today announced the launch of a range of services designed to enable banks, building societies and credit unions to build the single customer view (SCV) required by the Financial Services Authority.

Benefit cheat claimed Â£18,000

Tue, 20 Apr 2010 17:29:05 +0100

A benefot cheat has received a community order with six months' supervision and 240 hours' unpaid work.

Benefits cheat mum walks free from court

Tue, 20 Apr 2010 17:26:28 +0100

Mum-of-three Wendy Pukas has walked free from court after cheating the state out of almost £32,000 in benefits.

New Partner Joins MCR

Tue, 20 Apr 2010 17:19:40 +0100

MCR, the leading corporate insolvency and restructuring practice, has appointed Sarah Bell as Partner.

Iceland volcano: Forum advises businesses how to manage stranded staff

Tue, 20 Apr 2010 17:15:48 +0100

The Forum of Private Business (FPB) is advising smaller employers affected by the volcano in Iceland erupting to be flexible with stranded staff – but know when to draw the line on unpaid leave.

âCorporate Undertakersâ saved nearly 2 million jobs in 2009

Tue, 20 Apr 2010 17:09:11 +0100

With the latest unemployment figures out tomorrow, new research by ComRes estimates that the UK’s insolvency industry helped to save nearly two million jobs in companies going through insolvency and rescued around six thousand (5,851) businesses last year. Furthermore, the UK’s Insolvency Practitioners who work on corporate insolvencies spend nearly a quarter of their time on preventing insolvencies, work which cannot be made public for fear of damaging the value of the businesses co ...

Absolute Invoice Finance strengthens Midlands team

Tue, 20 Apr 2010 13:13:16 +0100

Absolute Invoice Finance (“Absolute”), the specialist business financier, has appointed James Cresswell as regional manager in its Midlands office, in response to strong demand from the region’s SMEs for alternative funding solutions.

Sunderland, East London and Liverpool top list of UK fraud hotspots

Tue, 20 Apr 2010 10:33:07 +0100

Callcredit Information Group (CIG) has today published research which identified the areas most and least at risk of ID fraud across the UK, with Sunderland topping the list of 121 localities in the British Isles. Fraud costs the UK £30 billion a year, with credit card fraud totalling £440.3 million in 2009.

Average debt being chased for payment rises by 40%

Tue, 20 Apr 2010 09:06:43 +0100

Credit managers let out the reins and relaxed their commercial debt management strategies in Q1 2010, in a sign that business confidence is returning, according to Lovetts Plc, the leading debt recovery law firm.

Experian appoints Head of Customer Management for UK and Ireland

Tue, 20 Apr 2010 08:59:18 +0100

Experian®, the global information services company, have announced the appointment of Nick Evans as Head of Customer Management for UK and Ireland. Nick joins Experian from HSBC, where he was Head of Credit Risk at its M&S Money business.

What price for inconclusive field visits?

Mon, 19 Apr 2010 18:25:14 +0100

It was in the news last week that the Financial Services Authority had issued another salutary reminder to lenders and industry practitioners, that it will take firm action against firms who have fees and charges that are disproportionate to the costs incurred of delivering a service, when dealing with their customers who are in arrears.

Credit Resource Solutions march onwards and upwards

Mon, 19 Apr 2010 16:33:58 +0100

Credit Resource Solutions(CRS) has completed testing on the Fair Isaac PlacementsPlus system allowing it to fully interface with clients and prospects in the Finance and Banking sector.

Mortgage Repossessions (Protection of Tenants Etc.) Act 2010

Mon, 19 Apr 2010 15:00:36 +0100

The latest Callcredit Industry Minute reports on the Mortgage Repossessions (Protection of Tenants Etc.) Act which has received Royal Assent.

Overseas buyers snap up UK bargains

Mon, 19 Apr 2010 10:38:03 +0100

Overseas buyers are targeting the UK probate, part exchange and repossession market, according to whitehot property, following recent statistics taken from their website reports.

Gross mortgage lending up 24% in March

Mon, 19 Apr 2010 09:44:15 +0100

Gross mortgage lending was an estimated £11.5 billion in March, a 24% rise from £9.3 billion in February and a 3% rise from £11.2 billion in March 2009, according to data published today by the Council of Mortgage Lenders (CML). The figures are in line with the typical seasonal pattern of a rise in lending volumes in March.

Bacs highly commended for late payments campaign

Mon, 19 Apr 2010 09:39:00 +0100

Bacs Payment Schemes Limited (Bacs) has received prestigious marketing industry recognition for its on going work to raise awareness of the late payments issue in Britain, reinforcing its position as a leading voice for Britain’s SME community on this subject.

Council increase successful cautions and prosecutions for benefit fraud

Fri, 16 Apr 2010 17:29:34 +0100

Wiltshire Council has increased its number of successful cautions and prosecutions for benefit fraud. In its first year the council has investigated 492 allegations of benefit fraud. It has detected more than £570,000 in benefits claimed without the right entitlement.

Benefit cheats claiming council tax discounts uncovered

Fri, 16 Apr 2010 17:25:14 +0100

An anti-fraud exercise has identified more than 150 benefit cheats claiming council tax discounts they were not entitled to.

Equality Act guidance may leave small firms confused, Forum warns

Fri, 16 Apr 2010 17:22:24 +0100

Guidance drawn up to help employers understand the Equality Act may prove baffling to smaller firms, the Forum of Private Business (FPB) has warned.

FSA fines London IFA Â£24,500 for pension switching advice failings

Fri, 16 Apr 2010 15:44:21 +0100

The Financial Services Authority (FSA) today fined Robin Bradford (Life and Pension Consultants) Ltd (Robin Bradford), a London based IFA firm, £24,500 for exposing customers to unacceptable levels of risk of receiving poor pension switching advice.

Phillips & Cohen Associates Academy Class Graduates!

Fri, 16 Apr 2010 15:29:42 +0100

Phillips & Cohen Associates (UK) Ltd, the UK’s leading probate collections business, is delighted to announce the graduation of the latest Class of Academy students, with a record 100% pass rate.

FSA appoints CEO of new Consumer Financial Education Body

Thu, 15 Apr 2010 14:57:22 +0100

The Financial Services Authority (FSA) today announced the appointment of Tony Hobman as the chief executive of the newly created Consumer Financial Education Body (CFEB).

The Supper Club automates member payments with Albany Software

Thu, 15 Apr 2010 12:08:28 +0100

The Supper Club, the country’s exclusive club for high growth entrepreneurs, has signed a rental agreement for ALBACSip from pioneering developer of electronic payment software solutions, Albany Software. This secure e-payment solution will smooth management of monthly membership payments through the collection of Direct Debits.

London stock broking firm and senior director fined for penny share failings

Thu, 15 Apr 2010 11:35:54 +0100

The Financial Services Authority (FSA) has fined Hythe Securities Limited (Hythe), a London-based stock broking firm and its senior director, Meenaz Mehta a total of £235,000 – Meenaz Mehta is also banned from holding senior positions in any firm selling penny shares to the public.

UKâs late payment mountain grows to Â£62.87 billion

Thu, 15 Apr 2010 11:08:21 +0100

New research from NatWest and RBS reveals that 71% of SMEs in the UK have suffered from late payments over the last 12 months, with the collective value of invoices paid outside of the stipulated terms and conditions estimated at £62.87 billion. As a result, 235,000 SMEs claim time wasted chasing debt has adversely affected their business.

3 in 10 households billed wrongly by energy providers

Thu, 15 Apr 2010 00:01:00 +0100

Consumers have named energy suppliers as the worst culprits for getting bills wrong for the fourth year in a row, according to new research from uSwitch.com, the independent price comparison and switching service. The energy industry was voted worst for inaccuracy, ahead of banks, council tax departments and other utility providers, pipping the Inland Revenue to the post for the fouth year running.

Interest rate caps will damage consumer credit market, says FLA

Wed, 14 Apr 2010 16:09:19 +0100

Responding to the Liberal Democrats’ manifesto pledges to impose maximum interest rates for credit cards and store cards, Fiona Hoyle, Finance and Leasing Association (FLA) Head of Consumer Finance, said:

Co-operatives UK respond to Liberal Democratsâ manifesto

Wed, 14 Apr 2010 14:45:53 +0100

In response to the launch today of the Liberal Democrats’ election manifesto – Four steps to a fairer Britain - David Coulter, deputy chief executive of Co-operatives UK, said:

More green shoots in the housing market

Wed, 14 Apr 2010 11:50:44 +0100

Data from moneysupermarket.com has revealed that activity in the mortgage market is steadily increasing across a variety of borrower profiles, meaning the spring homebuying season has kicked off strongly and looks set to continue.

Co-operatives UK respond to Conservative Party manifesto

Wed, 14 Apr 2010 11:25:53 +0100

In response to the launch of the Conservatives’ manifesto – An invitation to join the Government of Britain - David Coulter, deputy chief executive of Co-operatives UK, said:

Trevor Matthews to chair Financial Services Skills Council

Wed, 14 Apr 2010 10:54:00 +0100

The Financial Services Skills Council (FSSC), the independent, employer-led sector skills council for finance, accounting and financial services, today announced the appointment of Trevor Matthews as Chairman. The news comes just days after a panel of ministers endorsed the FSSC’s new strategy, awarding a renewed licence to the organisation, which helps UK businesses achieve global competitiveness through investment in skills.

New Report Reveals Massive Change in the Ways We Pay over the Last Decade

Wed, 14 Apr 2010 00:01:00 +0100

A new report, ‘The Way We Pay 2010 ‘, published today (14 April) by the Payments Council shows a payments revolution occurred in the noughties, and this looks set to continue over the next decade. The last decade not only saw the rise of internet banking and shopping but it was also the decade where cards took control of our wallets as cheques and cash were increasingly replaced by a card – particularly the debit card.

High profile economists complete line up of speakers for Coface Country Risk Conference

Tue, 13 Apr 2010 17:48:30 +0100

Leading economists Juan Gomez and Dr Mohamed Djeddour complete the line-up of speakers at the Coface – UK & Ireland Country Risk Conference in Manchester on the 9th June 2010.

Manifesto store card restrictions will damage High Street, says FLA

Tue, 13 Apr 2010 17:24:24 +0100

Responding to political party manifesto pledges on store cards, Fiona Hoyle, FLA Head of Consumer Finance, said:

FSA fines and bans former Northern Rock deputy chief executive and credit director

Tue, 13 Apr 2010 16:30:52 +0100

The Financial Services Authority (FSA) has today fined and banned the former Northern Rock deputy chief executive and the former credit director for misreporting mortgage arrears figures.

Free financial management skills for SMEs

Tue, 13 Apr 2010 16:05:01 +0100

The Institute of Chartered Accountants in England and Wales (ICAEW) and the Forum of Private Business (FPB) have joined forces to help small to medium-sized enterprises improve their financial management skills.

UK Businesses 'fight for recovery'

Tue, 13 Apr 2010 15:51:45 +0100

Leading business information provider, Equifax, has released its Business Failures Report for the first quarter of 2010, revealing an apparent steely determination by UK businesses to survive - despite the recession.

Late payments still a major cause for concern for British SMEs

Tue, 13 Apr 2010 13:33:04 +0100

Research by Bacs Payment Schemes Limited (Bacs), the organisation behind Direct Debit and Bacs Direct Credit, has revealed that British SMEs are having to wait an average of 41 days longer than their original agreed payment terms, before invoices are paid.

Mortgage market saw modest recovery in February

Tue, 13 Apr 2010 13:22:48 +0100

The number of loans advanced for house purchase increased by 12% in February, according to figures released today by the Council of Mortgage Lenders.

HSBC and Euler Hermes join forces to support UK exporters

Tue, 13 Apr 2010 13:13:56 +0100

HSBC Commercial Banking and Euler Hermes, the world’s leading credit insurer, have announced that they will begin working together from 1 April 2010 to support HSBC Invoice Finance’s service to UK exporters.

Calls for debt management firms to be open about performance figures

Tue, 13 Apr 2010 13:07:58 +0100

Blu Debt Management, the intermediary focused debt management firm, is calling on debt management companies to be open about the amount of debt management plans they get accepted by lenders.

Considerable rise in consumerâs searching online for mortgage-related products

Tue, 13 Apr 2010 00:01:00 +0100

UK consumer online searches for terms relating to savings, credit and debit cards, mortgages and loans, increased considerably in January 2010, specifically terms relating to mortgages were the most searched for. This is according to the latest report ‘Retail banking sector report – Issue 4’, by leading independent specialist search engine optimisation (SEO) and pay per click (PPC) consulting and technology firm, Greenlight.

Local government leaders have 12-18 months to act 'before public sector recession hits'

Mon, 12 Apr 2010 17:12:39 +0100

All levels of government have been relatively cushioned against the tough times of recession as they have enjoyed a boost in demand for their services and a rise in public sector spending. The honeymoon period will soon be over, as cities and local government face up to the pressures of massive budget cuts, with reductions of 25%-30% having to be seriously considered according to a new PricewaterhouseCoopers LLP (PwC) report, “Seizing the day: The impact of the global financial crisis on c ...

Kensington Mortgage Company Limited fined Â£1. ...

Mon, 12 Apr 2010 16:37:15 +0100

The Financial Services Authority (FSA) has today announced it has fined Kensington Mortgage Company Limited (Kensington) £1.225 million for poor treatment of some customers facing mortgage arrears. The firm has agreed to redress customers who were in arrears and charged specific unfair and/or excessive charges. It is estimated that the redress will cost the firm up to £1.066 million.

Barclaycard figures show increase in Easter credit and debit card spending

Mon, 12 Apr 2010 16:26:04 +0100

Latest figures from Barclaycard Global Payment Acceptance, which enables 87,000 retailers to accept debit and credit card payments, shows spending was up 8.5% this year compared to last Easter. The figures show shoppers spent £205.5m at retailers usually associated with the Easter weekend in 2010 compared to £189.4m over the same weekend in 2009.

FSA bans and fines North West London mortgage broker for submitting fraudulent mortgage applications

Mon, 12 Apr 2010 12:57:20 +0100

The Financial Services Authority (FSA) has fined mortgage broker Gary Lester £103,000 for knowingly submitting 42 mortgage applications to lenders containing false and misleading income information for his customers, and committing mortgage fraud to obtain a mortgage for himself.

Contributory Negligence â a timely reminder

Mon, 12 Apr 2010 12:53:13 +0100

Negligent professionals need a timely reminder about the current economic climate when alleging contributory negligence on the part of claimants, according to a legal specialist to the lender market.

He who cares, wins! - JBW launches unique service for clients

Mon, 12 Apr 2010 12:46:32 +0100

Despite the recession, since the beginning of 2009 JBW Group Ltd, the ethical bailiff and debt management company, have been expanding. With their staff count now at 106 up by 74% and the recent acquisition of National Enforcement Services in Darlington the company has been going from strength to strength. They have won 15 contracts with Clients in London and the North East.

A further three firms sign up for FRSGlobalâs liquidity solution in Q1

Mon, 12 Apr 2010 12:39:32 +0100

FRSGlobal, the only global provider of risk and regulatory reporting solutions with coverage for over 40 countries on a unified platform, today announced that a further three firms have chosen its industry acclaimed liquidity solution to comply with the FSA’s regime.

Venture Q1 results reveal canny business behaviour behind recovery

Mon, 12 Apr 2010 12:29:02 +0100

Venture Finance has reported increases in new client numbers for the third quarter running. The independent Invoice and Asset Based Lender has witnessed an increase of over 75 per cent in its Q1 new client numbers, compared with Q1 2009. New clients taking Bad Debt Protection to shield against customer insolvency also grew by over a third. These figures support an emerging trend of a better-organised and prepared class of businesses, seasoned by the recession.

A learning centre without boundaries

Mon, 12 Apr 2010 12:24:23 +0100

With four top Universities within a five miles radius, it is a well know fact that Manchester has a bustling student population which contributes to the city’s diversity and economic growth.

Hometrack and Callcredit win HSBC Group contract

Mon, 12 Apr 2010 12:02:56 +0100

Hometrack Data Systems, the UK’s leading supplier of automated valuations and risk analytics, together with Leeds-based credit reference agency Callcredit have today announced the award of a contract to supply the HSBC Group with Equity Indicator, a groundbreaking product, designed specifically to assess an individual’s overall equity status.

Standards International & ifs School of Finance announce collaboration

Mon, 12 Apr 2010 11:52:04 +0100

Standards International, the UK’s leading ISO 22222 certification body, and the ifs School of Finance today confirmed their agreement to work together to promote each others approach to improving the skills and knowledge of financial advisers.

Firstsource appoints Matthew Vallance as new CEO

Mon, 12 Apr 2010 11:44:08 +0100

Firstsource, a leading Indian-headquartered Business Process Outsourcing (BPO) company, has announced that Ananda Mukerji, will be stepping down as CEO on July 27th 2010. Taking over from him as global MD & CEO will be Matthew Vallance, currently Joint Managing Director and President of the company’s global financial services and telecoms divisions. Ananda Mukerji will then assume the position of non-executive Vice-Chairman on the board of Firstsource.

Consumer Financial Education Body in Financial Services Bill receives Royal Assent

Mon, 12 Apr 2010 11:34:57 +0100

The Resolution Foundation is delighted that the Financial Services Bill received Royal Assent during the wash-up process. The Bill will establish the Consumer Financial Education Body which will be responsible for running Money Made Clear – the new financial advice service aimed at low earners.

Northampton woman found guilty of benefit fraud

Mon, 12 Apr 2010 10:12:05 +0100

Earlier this month (13 April 2009) Northampton Magistrate's Court found a Northampton woman guilty on two charges of dishonestly claiming over £22,000 in benefits she was not entitled to.

Prison sentence for benefit fraudster

Mon, 12 Apr 2010 10:09:38 +0100

On Tuesday 30 March, Mr Stephen Hughes (aged 54) of Wheatfield Way, Chelmsford, was sentenced to a total of 120 days imprisonment by Chelmsford Magistrates Court for benefit fraud. Mr Hughes had pleaded guilty at an earlier hearing to six counts of failing to declare that he was in receipt of a private pension when claiming Housing Benefit and Council Tax Benefit.

Three strikes policy to crack down on benefit fraud

Mon, 12 Apr 2010 10:07:02 +0100

Shadow Work and Pensions Secretary Theresa May has announced a new ‘three strikes’ policy to crack down on those who repeatedly defraud the benefits system.

CCR-PublicSector

Mon, 12 Apr 2010 00:00:00 +0100

Read May's CCR-PublicSector magazine here, free of charge, for your chance to win a Panasonic Lumix digital camera. ...

Mortgage Repossessions (Protection of Tenants) Bill receives Royal Assent

Fri, 09 Apr 2010 17:01:07 +0100

This Bill protects tenants when their landlords are repossessed by their lender. Where a landlord has not taken out a buy-to-let mortgage and has not received consent to let, the lender typically has no knowledge that the property has been let.

March sales figures point to continued growth on the High Street

Fri, 09 Apr 2010 16:56:28 +0100

Mid-size high street retailers are going in to the second quarter of the year in a strong position after a second consecutive month of improvements in retail spending, according to accountants and business advisers BDO LLP. Figures from the BDO High Street Sales Tracker for March show overall like-for-like sales up by just over 8 per cent (8.1 per cent) on last year.

Irresponsible Lending â Guidance for Creditors

Fri, 09 Apr 2010 16:04:08 +0100

The latest Callcredit Industry Minute reports that the final Irresponsible Lending Guidance has now been published by the Office of Fair Trading (OFT). The full Guidance can be found at http://www.oft.gov.uk/shared_oft/business_leaflets/general/oft1107.pdf

Absolute Invoice Finance strengthens South West team

Fri, 09 Apr 2010 15:50:22 +0100

Absolute Invoice Finance (“Absolute”), the specialist business financier, has appointed Mark Bennett as regional manager in its South West and Thames Valley office, based in Abingdon.

The death of the store card

Fri, 09 Apr 2010 15:31:40 +0100

Store Cards may soon be a thing of the past as retailers seek new ways of providing credit post recession according to Datamonitor.

Selby council to halt bill payments by cash

Fri, 09 Apr 2010 09:23:22 +0100

Selby residents who pay their household bills by cash at the council’s customer contact offices will no longer be able to do so from June 1.

Barmaid told to pay back benefits

Fri, 09 Apr 2010 09:21:04 +0100

A benefit cheat was ordered to pay back thousands of pounds after hoodwinking the system.

Absolute Invoice Finance appoints deputy finance director

Thu, 08 Apr 2010 16:13:15 +0100

Specialist business financier, Absolute Invoice Finance (“Absolute”), has strengthened its management team with the appointment of Scott Braybrook as deputy finance director.

MPC must focus on sustaining the fragile recovery, says BCC

Thu, 08 Apr 2010 13:21:07 +0100

Commenting on today’s Monetary Policy Committee (MPC) decision, David Kern, Chief Economist at the British Chambers of Commercev (BCC), said:

GB Group: Baines & Ernst locates more than 40% of clients they had previously lost touch with

Thu, 08 Apr 2010 13:07:32 +0100

Experienced debt management company, Baines & Ernst, sees an immediate rise in profitability and collection rates after locating 40% of its clients who they had previously lost touch with. The success comes after its implementation of GB Accelerator e-Trace, a tracing solution from Identity Management leaders, GB Group (GB).

Adeptra announces new Analytics platform

Thu, 08 Apr 2010 12:47:29 +0100

Adeptra, the recognised leader in automated customer communications, today announced the release of its analytics platform, Adeptra Analytics, to enable financial organisations to build smarter consumer credit and risk management strategies. The platform, developed in conjunction with a number of Adeptra’s global financial customers, is a market-first with near real-time visibility into the success of credit risk management.

FSA issues fines totalling Â£4.2m for transaction reporting failures

Thu, 08 Apr 2010 11:35:23 +0100

The Financial Services Authority (FSA) has fined three firms a total of £4.2m for failing to provide accurate and timely transaction reports to the FSA.

The Equifax guide to credit information for small business owners

Thu, 08 Apr 2010 11:20:37 +0100

Whilst the level of redundancies over the last 12 months has reached record highs, there has also been a surge of new business start ups.

VocaLink Take Home Pay Index starts on road to recovery following all-time low

Thu, 08 Apr 2010 10:58:24 +0100

The VocaLink Take Home Pay Index for March has recovered from its all-time low in February to record a rise of 0.5 percentage points, bringing the index to 1.5 per cent.

Business Failures in 2009 Buck Recessionary Trend

Wed, 07 Apr 2010 16:38:41 +0100

Fast and bold monetary policy response and lessons learned from previous downturns have helped soften the blow to business.

BCC Economic Survey: Double-dip avoided but risks to the economy remain

Wed, 07 Apr 2010 16:35:52 +0100

Results from the Quarter 1 2010 British Chambers of Commerce (BCC) Economic Survey – published a day ahead of the MPC’s April rate setting decision – show that the UK’s upturn is still on course and the economy has not slipped back into recession. However, the recovery is weak and serious risks of a setback remain.

Forum lays out vital small firm-friendly measures in Election Manifesto

Tue, 06 Apr 2010 17:12:45 +0100

The next government urgently needs to rebalance workplace law in favour of employers, according to the Forum of Private Business (FPB).

London Boroughs Collaborate on Revenue Collection

Tue, 06 Apr 2010 16:48:44 +0100

The London Revenues Group (LRG) has launched a new secure, private members only web site to easily and quickly share information with members located at all 34 London Boroughs Revenues Departments. The LRG promotes and shares best practices to maximise revenue collections and customer services so has launched a collaboration site that can be updated and maintained without the involvement of IT resources.

Angie Hall to join Arum

Tue, 06 Apr 2010 16:07:58 +0100

Credit management specialist, Arum, has appointed Angie Hall as Lead Business Consultant with effect from 15 March 2010.

Online system risks âpressurisedâ and âmaliciousâ bankruptcies, warns ...

Tue, 06 Apr 2010 16:02:47 +0100

A newly proposed system allowing people to apply for bankruptcy online creates a number of serious risks including impulsive, pressurised and ‘malicious’ bankruptcies (where individuals can apply for bankruptcy in someone else’s name), warns insolvency trade body R3.

Small businesses to be fined up to Â£500k for security breaches

Tue, 06 Apr 2010 15:56:24 +0100

Small businesses across the UK could now be fined up to £500,000 in the event of a data security breach as new powers for the Information Commissioner’s Office (ICO) come into force today.

Forthcoming changes to the Civil Procedure Rules

Tue, 06 Apr 2010 15:44:45 +0100

Lenders are being advised of further changes to the Civil Procedure Rules, which will affect mortgage repossession claims due to come into force from next month.

A third of those with debt problems have not told their family or partner

Tue, 06 Apr 2010 13:13:56 +0100

The stigma of personal insolvency has not lessened as new research shows that 30% of those struggling financially without help haven’t even told those closest to them. According to research from the R3, the insolvency trade body, a further 19% can’t even face opening their bills, while 21% said they ‘didn’t know where to go for help.’

Duke Street acquires majority stake in Marlin

Tue, 06 Apr 2010 12:45:54 +0100

Duke Street, the mid-market private equity group, has acquired a controlling interest in the Marlin Group, the leading purchaser and manager of consumer debt specialising in litigation-based recovery.

New head of IT at Gothia

Tue, 06 Apr 2010 12:37:24 +0100

Gothia Limited is delighted to announce that Steve Bentley has joined the UK Senior Management Team as Head of IT.

Marlin signs investment deal with private equity group

Tue, 06 Apr 2010 12:19:43 +0100

Changes to Insolvency Rules aims to save industry Â£45 million each year

Tue, 06 Apr 2010 12:00:46 +0100

A package of measures aiming to modernise and streamline insolvency legislation come into force today.

Economic improvements overshadowed by late payment, according to latest barometer of small business

Thu, 01 Apr 2010 17:33:34 +0100

Improvements in orders and turnover experienced by small firms are being overshadowed by cash flow difficulties as a result of late payment, the latest Economy Watch member panel survey from the Forum of Private Business suggests.

MCR completes sale of retailer Ethel Austin

Thu, 01 Apr 2010 16:39:41 +0100

MCR, the administrators of value clothing retailer Ethel Austin has announced a sale of the company’s business and assets that includes 90 of its stores to Life & Style Retail Limited, a newly incorporated company set up by Ethel Austin’s former owner Elaine McPherson. The agreement was completed on 31 March 2010, with effect from 26 March 2010.

Small Business Credit Adjudicator task force launched

Thu, 01 Apr 2010 09:05:52 +0100

A new task force to advise the Government on how to ensure small companies are treated fairly and properly when accessing bank finance was today launched by the Department for Business.

Partners-in-crime jailed after pulling off a Â£1.5m fraud

Wed, 31 Mar 2010 23:25:21 +0100

Two fraudsters have been jailed for a total of five years after they masterminded a £1.5million identity scam.

New FRAB Chair selected

Wed, 31 Mar 2010 16:31:17 +0100

Kathryn Cearns has been appointed as the Chair of the Financial Reporting Advisory Board (FRAB). Kathryn will take up the appointment with effect from 4 June. Elwyn Eilledge CBE, the current Chair, will step down following the 3 June FRAB meeting, having chaired the Board since its inception in 1996.

Peter Sargent comments on today's announcement of a consultation on pre-packs

Wed, 31 Mar 2010 15:34:06 +0100

Peter Sargent, President of R3, the insolvency trade body says: “While we welcome any consultation that looks at pre-packs we question the justification used to introduce it. The perception that pre-pack rules need ‘strengthening’ derives largely from the Insolvency Service’s own misreporting on pre-packs, namely the claim that ‘more than a third of SIP 16 disclosure statements were not fully compliant’. In fact as few as 7% of SIP 16 reports were ...

Government emphasises need for transparency in âpre-packsâ

Wed, 31 Mar 2010 13:55:33 +0100

Business Minister Ian Lucas has taken decisive steps to ensure confidence in the pre-packaged administration sale process with a range of possible new measures aimed at making the system more open.

OFT Irresponsible Lending Guidance builds on industry good practice

Wed, 31 Mar 2010 13:12:15 +0100

Responding to the Office of Fair Trading’s (OFT) Irresponsible Lending Guidance, Fiona Hoyle, Head of Consumer Finance at the Finance & Leasing Association said:

OFT issues Irresponsible Lending Guidance

Wed, 31 Mar 2010 11:57:44 +0100

The OFT has today published guidance on the irresponsible lending element of the test of fitness to hold a credit licence. ...

Â£1.9 billion a year wasted chasing late payment

Wed, 31 Mar 2010 11:55:04 +0100

UK businesses are pouring money down the drain chasing late payment and this could be costing the small business community as much as £1.9 billion a year.

Businesses feel the Â£900m strain in 2009

Wed, 31 Mar 2010 10:30:44 +0100

The value of County Court Judgments (CCJs) against businesses in England and Wales in 2009 reached a total of £899m, according to figures released today (date), by Registry Trust Ltd.

Former CAB worker Carol Thomas scammed Â£18,500 in benefit fraud

Wed, 31 Mar 2010 09:17:17 +0100

A woman who advised on how to claim benefits and clear debt has been found guilty of an £18,500 benefit fraud.

Probe finds 300 on council tax âfiddleâ

Wed, 31 Mar 2010 09:15:46 +0100

More than 300 people in Reading were caught dishonestly claiming the single person discount on their council tax according to a new report.

The Government today laid new rules in Parliament to protect borrowers

Tue, 30 Mar 2010 17:02:11 +0100

These rules implement the European Consumer Credit Directive and will come into effect from 1st February 2011.

UK Debt Statistics - April 2010

Tue, 30 Mar 2010 17:00:34 +0100

Total UK personal debt at the end of February 2010 stood at £1,464bn. The twelve-month growth was 0.9%. Individuals owe more than what the whole country produces in a year.

BSA welcomes publication of Treasury Discussion Paper on Building Societies access to capital

Tue, 30 Mar 2010 16:59:05 +0100

Following the publication of the Treasury discussion paper on Building Societies and their access to capital, Adrian Coles, Director-General of the BSA, commented:

Ensuring long-term stability for building societies

Tue, 30 Mar 2010 16:55:31 +0100

The Treasury today published a discussion document on options for securing the long-term stability of the building society sector.

Ensuring long-term stability for building societies

Tue, 30 Mar 2010 16:52:44 +0100

The Treasury today published a discussion document on options for securing the long-term stability of the building society sector.

New Payments Council Chairman appointed

Tue, 30 Mar 2010 15:15:17 +0100

The Payments Council announces today (30th March) that it has appointed Richard North as its new independent Chairman.

Success of guides prompts new videos from Lord Sugar

Tue, 30 Mar 2010 13:50:44 +0100

The success of the Institute of Credit Management’s (ICM) Managing Cashflow guides, which small businesses have now downloaded more than 120,000 times, has led to a second edition being published alongside a suite of videos featuring Lord Sugar.

Equifax credit communities help businesses

Tue, 30 Mar 2010 13:00:49 +0100

Leading business intelligence expert, Equifax, is spearheading a number of initiatives to give the UK’s commercial community the very latest good and bad news on the credit behaviour of customers.

FSA consults on enhanced client asset protection

Tue, 30 Mar 2010 12:16:52 +0100

The Financial Services Authority (FSA) has today published a consultation on changes to its client asset rules. The aim of the consultation is to ensure that clients have confidence their money and assets are safe and will be returned within a reasonable timeframe in the event that a firm becomes insolvent.

Insolvency Service cracks down on bankrupts who try to conceal assets

Tue, 30 Mar 2010 11:35:42 +0100

Debtors who believe they can go bankrupt yet hide some of their assets from the Official Receiver have been told to think again by The Insolvency Service.

Apex Credit Management expands to Kent

Tue, 30 Mar 2010 11:34:48 +0100

Financial services company, Apex Credit Management, based in Stratford-Upon-Avon, has expanded into Kent. The company’s Discovery Solutions division has taken a Regus serviced office at Kings Hill Business Park, near Maidstone, and hopes to create 50 new jobs in the county over the next three years.

Noble Systems releases results of contact centre survey

Tue, 30 Mar 2010 11:33:52 +0100

Noble Systems Corporation, a global leader in innovative contact centre technology solutions, today announced the results of a comprehensive survey, commissioned by Noble Systems of more than 1200 independent contact centres, the survey revealed that 97 percent of respondents expect their businesses to grow or remain stable in 2010, a sign of strong confidence in the industry.

Free evening seminar to explain benefits of international standard

Tue, 30 Mar 2010 11:32:09 +0100

Standards International, the UK's leading certification body for ISO 22222, today confirmed that they will be holding a free evening seminar to explain the benefits of being certified to the only international standard for best practice in financial planning.

Encouraging now in the UK Debt Collection Agencies industry â but not for everyone

Tue, 30 Mar 2010 11:29:32 +0100

In encouraging news for the UK Debt Collection Agencies industry, 147 of the top 379 companies in the market are growing at more than 10% per annum and making healthy profits.

Suspended jail sentence for Cumbrian man who owed Â£2,100 council tax

Tue, 30 Mar 2010 09:51:59 +0100

A Carlisle labourer has been given a suspended prison sentence for failing to pay more than £2,100 in council tax.

Direct Debit taxpayers in Barnet borough could win Â£25k in prize draw

Tue, 30 Mar 2010 09:50:16 +0100

Residents who chose to pay their council tax via Direct Debit could be in the running for a £25,000 prize.

ICM Road Show hits historic heights with next stop

Mon, 29 Mar 2010 16:26:42 +0100

The Institute of Credit Management’s (ICM) next regional road show event is to be held in the dramatic surroundings of Edinburgh Castle on April 22.

Marston Group welcomes Employment Tribunal award announcement

Mon, 29 Mar 2010 16:23:51 +0100

Marston Group welcomes the Justice Minister’s announcement that, from 6 April 2010, High Court Enforcement Officers (HCEOs) can be directly commissioned by successful tribunal applicants to enforce their Employment Tribunal award or settlement.

Howes Percival LLP recruits Blake Lapthorn insolvency partner as first partner for new London office

Mon, 29 Mar 2010 16:21:46 +0100

Howes Percival LLP’s Norwich office has appointed Blake Lapthorn’s Head of Insolvency and Business Recovery, Nick Oliver as a partner.

Impact of recession on client retention is keeping two thirds of UK business owners awake at night

Mon, 29 Mar 2010 16:20:15 +0100

Despite recent signs of economic growth and a reported upturn on the horizon, a staggering 63 per cent of UK business owners continue to worry about losing clients.

BBA statement on new financial services to be offered by the Post Office

Mon, 29 Mar 2010 13:12:12 +0100

The British Bankers Association (BBA) have responded to the announcement today by Lord Mandelson for a major expansion of the financial services offered by the Post Office.

Credit unions welcome Post Office link up proposals

Mon, 29 Mar 2010 12:49:10 +0100

ABCUL – the Association of British Credit Unions – has welcomed today’s response to the consultation on the future of financial services in the Post Office which sees the Post Office network as a natural distribution partner for credit union services.

CML Comments on Bank of England Mortgage data

Mon, 29 Mar 2010 11:12:09 +0100

Commenting on today's mortgage data published by the Bank of England, the Council of Mortgage Lenders (CML) notes that interest rates on new mortgages continue to fall, while the average rate on the outstanding stock is stable.

Venture Finance "plugs the gap" for start-up

Mon, 29 Mar 2010 11:07:27 +0100

Venture Finance has provided Haines Distribution, a start-up supplier of plumbing and heating materials, with a £250k Factoring package which includes Bad Debt Protection. Haines Distribution was attracted to Venture's record of consistent lending throughout the recession, and the premier Invoice and Asset Based Lender turned the deal around within two weeks of introduction.

Conservative NICs proposals would help roll back âtax on jobsâ

Mon, 29 Mar 2010 10:48:33 +0100

Responding to the Conservatives’ proposal to roll back planned increases in National Insurance, David Frost, Director General of the British Chambers of Commerce (BCC), said:

Lending to individuals: February 2010

Mon, 29 Mar 2010 10:44:03 +0100

The Bank of England has released the following lending statistics. Total net lending to individuals rose by £2.1 billion in February. The twelve-month growth rate ticked up to 0.9%. The three-month annualised growth rate was 1.5%, a 0.2 percentage points increase on January.

New Employment Tribunal Fast Track scheme

Mon, 29 Mar 2010 10:22:12 +0100

As reported in the latest news release from the Ministry of Justice, workers awarded payouts from their former employers at Employment Tribunals will be given extra help to ensure they receive their payments.

Savings balances increase at mutuals in February

Mon, 29 Mar 2010 10:14:14 +0100

Latest figures from The Building Societies Association (BSA) show that balances held in savings accounts at mutual institutions increased by £807 million in February compared to reduction in balances of £467 million in January. After interest credited to accounts is excluded, mutuals had a net receipt of £623 million February.

Benefits cheat in Â£20k cash scam

Mon, 29 Mar 2010 10:07:36 +0100

A benefits cheat admitted he was a greedy liar when he was caught illegally claiming almost £20,000 from the public purse.

Next steps for Post Office banking

Mon, 29 Mar 2010 10:06:28 +0100

Business Secretary Lord Mandelson today announced a major expansion of the financial services offered by the Post Office, in a drive to put banking back into the heart of communities and making the Post Office network of 11,500 branches more sustainable. He also announced £180m of new funding for the Post Office.

March Madness: Businesses embark on Year-End Cash Haul

Mon, 29 Mar 2010 00:01:00 +0100

New research published today by Creditsafe, the business intelligence experts, reveals that over half of UK businesses have their year end in March (27%) or April (24%). It means companies will be chased for payment of invoices and outstanding debts harder over the next two months than at any other point in the year as companies seek to reduce their liabilities.

Insolvency Service publishes annual insolvency practitioner review

Fri, 26 Mar 2010 16:50:11 +0100

The second ‘Annual Review of Insolvency Practitioner Regulation’ is published today by the Insolvency Service, the Executive Agency which monitors the regulation of Insolvency Practitioners (IPs). This follows on from the review of the first six months of SIP 16.

Nine out of ten small firms unhappy over Budget 2010

Fri, 26 Mar 2010 16:36:21 +0100

More than nine out of ten smaller businesses were left disappointed by this week’s Budget, a snap poll has revealed.

Progress made, but concerns remain, on specialist sourcebook for building societies

Fri, 26 Mar 2010 16:21:28 +0100

Commenting on the publication today of the FSA’s specialist sourcebook for building societies, Adrian Coles, Building Societies Association (BSA) Director-General, said:

Mortgages: Power of Sale & Residential Property MoJ Consultation - Response by the BSA

Fri, 26 Mar 2010 12:56:12 +0100

On 29 December 2009, Ministry of Justice (MOJ) published a consultation paper in relation to power of sale and owner occupied mortgages.

Average house price in England and Wales now Â£164,455 26

Fri, 26 Mar 2010 12:38:48 +0100

The February data from Land Registry’s flagship House Price Index shows an annual price increase of seven per cent. This is the fourth month in a row in which the figure has been positive and takes the average property value in England and Wales to £164,455. The monthly change from January to February is a decrease of 0.3 per cent.

Bibby Financial Services sets up small business fund to help where Government support has failed

Fri, 26 Mar 2010 12:17:31 +0100

Specialist business finance provider Bibby Financial Services has today announced a multi-million Pound offering to support small businesses in the UK.

FSA introduces additional guidance for building societies

Fri, 26 Mar 2010 12:10:48 +0100

The Financial Services Authority (FSA) has today introduced additional handbook guidance to ensure that building societies diversifying from traditional business models have the risk management systems and skills necessary to operate safely.

Government responds to industry support for FSSC strategy

Fri, 26 Mar 2010 11:57:26 +0100

The Financial Services Skills Council (FSSC) today hailed the Government’s decision to renew its licence as a positive response to resounding industry support for its new strategy. The FSSC is the independent, employer-led sector skills council for finance, accountancy and financial services, a strategic body with the remit of ensuring that employers’ needs for skills are met.

BIS - Support to business during a recession

Fri, 26 Mar 2010 11:41:24 +0100

In late 2008, the Department for Business, Innovation and Skills (BIS) stepped in to offer targeted support to struggling, but viable, businesses in the face of a severe economic downturn. It reacted quickly and prioritized a fast response over perfecting its policies. Under the circumstances, this approach was appropriate, according to a report published today by the National Audit Office (NAO).

More than a quarter of small businesses will go under in a âdouble dipâ

Fri, 26 Mar 2010 11:05:10 +0100

Figures released today by R3, the insolvency trade body, show that over a quarter of small businesses in the UK (28%) believe that they will become insolvent if the economy suffers from a double dip recession.

Positive retail sales make it easier to present credible deficit-reduction plan

Thu, 25 Mar 2010 18:11:23 +0100

Commenting on the February retail sales figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

This was a Budget with an eye on the ballot box - BBA Budget 2010 comment

Thu, 25 Mar 2010 18:07:57 +0100

The British Bankers Association (BBA) has commented on yesterday's Budget.

Don't play politics with credit markets, warns FLA

Thu, 25 Mar 2010 17:48:46 +0100

The publication of the latest consumer finance figures by The Finance & Leasing Association (FLA), has led it to warn against excessive regulation that could cause further damage to the credit market.

Venture Finance turns would-be headhunter into new client

Thu, 25 Mar 2010 17:44:31 +0100

It is not often a recruitment consultancy on the search becomes the subject of a successful sales pitch. However, that is exactly what happened with KCMB Recruitment Ltd and Venture Finance recently.

Budget Comment from Optima Legal partner, Anthony Ruane

Thu, 25 Mar 2010 17:37:28 +0100

“Although largely a political budget the raising of the stamp duty threshold from £125k to £250k was a welcome development for the property sector, and particularly for first time buyers.

First bailiff franchise for Preston and Flyde Coast

Thu, 25 Mar 2010 17:26:26 +0100

National Enforcement Services (NES), the first franchised bailiff operation in the UK, has extended its operations to the Preston and Flyde Coast areas, where local man Vinny Shaw will take forward the company’s third franchise venture.

Online tool extended to help customers check payment options

Thu, 25 Mar 2010 17:19:27 +0100

The Payments Council has today relaunched its Sort Code Checker online tool, extending it beyond Faster Payments to cover Bacs, CHAPS, cheques and paper credits.

Flourishing Data Protection Sector Wins Professional Status

Thu, 25 Mar 2010 17:13:13 +0100

The UK’s rapidly expanding data protection sector is to be recognized with the introduction of a new professional qualification.

David Button announced as new Chair of Co-operatives UK

Thu, 25 Mar 2010 17:07:31 +0100

Co-operatives UK, the national trade body that campaigns for co-operation, has announced the election of a new Chair.

Forum celebrates key victories for small firms in Budget

Thu, 25 Mar 2010 16:51:53 +0100

The Forum of Private Business (FPB) has highlighted several key small business-friendly measures included in this week’s Budget.

FLA response to budget announcement

Wed, 24 Mar 2010 17:13:39 +0100

Commenting on the decision to transfer regulatory responsibility for second charge mortgages from the OFT to the FSA, Fiona Hoyle, Head of Consumer Finance at the Finance & Leasing Association (FLA), said:

Budget includes bank benefits for debt sufferers

Wed, 24 Mar 2010 16:04:55 +0100

One of the UK’s leading providers of consumer debt advice has welcomed the Government’s firm action to tackle ‘financial exclusion’ outlined in today’s Budget.

paythru launches Mi-Account platform for mobile payment of credit card bills

Wed, 24 Mar 2010 15:57:39 +0100

Banks and credit card companies can make it easier for the 30 million UK credit card users to pay their credit card bills, and speed-up debt collection while reducing costs with Mi-Account, a new mobile payments platform from mobile payments specialists paythru.

Budget reaction â Forum of Private Business statement

Wed, 24 Mar 2010 15:49:34 +0100

Forum welcomes emphasis on small business - but warns against electioneering

BSA comments on Budget 2010

Wed, 24 Mar 2010 15:40:04 +0100

Commenting on the measures announced by the Chancellor in today’s Budget, Adrian Coles, Director-General of the Building Societies Association (BSA), said:

Two and two won't make four - Darling's proposals still won't add up for small businesses

Wed, 24 Mar 2010 15:34:15 +0100

Commenting on the Budget proposals for small businesses, Edward Rimmer, UK chief executive at specialist business finance provider, Bibby Financial Services, said: “Darling’s list of four measures designed to support small and medium-sized businesses simply doesn’t add up. Nor does the package go far enough to help UK businesses play their part in driving economic growth.”

CML response to 2010 budget

Wed, 24 Mar 2010 15:24:22 +0100

The Council of Mortgage Lenders (CML) cautiously welcomes the Stamp Duty concession for first-time buyers, but warns that there will be genuine practical barriers to effective implementation. It would clearly be far simpler - but more expensive - to exempt all properties under £250,000, rather than to impose the additional first-time buyer restriction.

Budget - comment from Venture Finance

Wed, 24 Mar 2010 15:17:53 +0100

In response to today's Budget announcement that £94bn of proposed business lending will come through the state owned banks, Peter Ewen, Managing Director, Venture Finance PLC comments:

European Parliament votes for less financial transparency

Wed, 24 Mar 2010 14:25:12 +0100

A European Parliament vote in March to allow micro businesses to be exempt from the EU financial reporting regime, as laid out in the Fourth Company Law Directive, is a vote for less financial transparency, warns leading credit reference agency Graydon UK.

BNP Paribas announces Global Debt Syndicate changes

Wed, 24 Mar 2010 13:01:08 +0100

BNP Paribas Corporate & Investment Banking (‘BNP Paribas’) is pleased to announce strategic changes to the BNP Paribas Global Debt Syndicate platform. These will underpin the bank's commitment to the expansion of its Primary Market capabilities throughout the world across all currencies and instruments.

Aspect Appoints Steve Boakes as Channels and Partners Manager, Northern Europe

Wed, 24 Mar 2010 12:47:35 +0100

Aspect, a global provider of unified communications (UC) and collaboration services and software, announces the appointment of Steve Boakes as channels and partners manager, Northern Europe.

ICM announces winners of prestigious icm10 awards

Wed, 24 Mar 2010 12:37:49 +0100

In its fourth successful year, the icm10 awards ceremony was held at The Royal Courts of Justice, commonly called the Law Courts, on the Strand, London on 16 March.

Stamp Duty - CML pre-Budget information note

Wed, 24 Mar 2010 10:50:53 +0100

There is speculation that the stamp duty threshold may be raised to £250,000 in today’s Budget.

Assisted self help scheme âCASHflowâ rolls out nationwide

Wed, 24 Mar 2010 00:01:00 +0100

A new service to assist individuals who are keen to negotiate debt repayment plans is being launched this evening (Wednesday 24th March) by Consumer Minister, Kevin Brennan.

Accelerating supply of homes for sale marks move back to normal market conditions

Tue, 23 Mar 2010 17:10:38 +0100

House prices rose by 0.3% in March according to the latest monthly housing survey published today by Hometrack, the housing intelligence business. The year on year rate of growth now stands at 1.3%.

Aspect Marks Two-Year Anniversary of Global Strategic Alliance and Equity Investment with Microsoft

Tue, 23 Mar 2010 16:55:06 +0100

Aspect, a global provider of unified communications (UC) and collaboration services and software, today announced that it has marked the two-year anniversary of its global strategic alliance with Microsoft Corporation.

Time to Pay Scheme, now itâs time to pay up!

Tue, 23 Mar 2010 16:45:49 +0100

In 2009, with the UK economy seeing one of the worst recessions in history, the government took action designed to help save struggling businesses from failure.

Target Group reports impressive growth and expansion plans

Tue, 23 Mar 2010 16:36:31 +0100

Target Group, a leading specialist in lending software and financial outsourcing, has experienced a significant increase in annual turnover, with revenues rising from £11.1 million to £22.2 million between 2006 and 2009. Over the past year, turnover increased by 22.5%.

Absolute outlines Budget wish list

Tue, 23 Mar 2010 16:28:29 +0100

Specialist business financier, Absolute Invoice Finance, has urged Alistair Darling to tangibly demonstrate his commitment to the SME sector in what could potentially be his last Budget Report as Chancellor of the Exchequer.

Creditsafe achieves âone to watchâ status in Best Companies Accreditation 2010

Tue, 23 Mar 2010 16:19:18 +0100

Creditsafe, the business intelligence experts, is pleased to announce it has achieved One to Watch Status in the Best Companies Accreditation 2010. The award is in recognition of Creditsafe’s ongoing commitment to employee engagement and its focus on offering its employees tailored opportunities for training and development.

Lower inflation reinforces case for MPC to maintain expansionary approach

Tue, 23 Mar 2010 16:11:25 +0100

Commenting on the February inflation figures released today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

Budget speculation on basic bank accounts

Tue, 23 Mar 2010 16:08:43 +0100

The British Bankers Association (BBA) comments on reports that under plans in Wednesday's Budget, UK banks would be legally obliged to provide a basic bank account to every citizen.

FSA publishes Mortgage Market Review Feedback Statement

Tue, 23 Mar 2010 15:41:28 +0100

The Financial Services Authority (FSA) has published its Mortgage Market Review feedback statement summarising the responses received following its Mortgage Market Review discussion paper (DP), which was published on 19 October 2009.

Firms face Â£2m fine for silent calls

Tue, 23 Mar 2010 15:37:39 +0100

Firms which cause nuisance and distress to consumers through silent and abandoned calls will face a new maximum fine of £2 million, Kevin Brennan, Minister for Consumer Affairs confirmed today.

Six arrested in FSA and SOCA insider dealing investigation

Tue, 23 Mar 2010 15:32:30 +0100

In the first operation carried out jointly between the Financial Services Authority (FSA) and the Serious Organised Crime Agency (SOCA), 16 addresses have been searched this morning in London, the South East and Oxfordshire in the FSA’s largest ever operation against insider dealing.

Only one in five small firms concerned about the Budget, survey finds

Mon, 22 Mar 2010 17:18:44 +0100

Barely a fifth of small business owners believe this week’s budget will have a significant impact on their firms, according to new research.

Check That Company helps small firms 'stay safe from bad debts'

Mon, 22 Mar 2010 17:08:01 +0100

A new online service has been launched that helps small businesses run quick and effective credit checks on potential new and existing customers and thus minimises the risk of bad debts and keeps their business safe.

Absolute Invoice Finance appoints risk manager in North West

Mon, 22 Mar 2010 16:21:52 +0100

Absolute Invoice Finance (“Absolute”), the specialist business financier, has strengthened its North West team with the appointment of Lauren Dolezel as risk manager to its Manchester office.

One-Sure Insurance manages monthly direct debit collections in-house with Albany Software

Mon, 22 Mar 2010 16:17:07 +0100

One-Sure Insurance, the independently-owned insurance intermediary has selected eCOLLECT from pioneering developer of electronic payments solutions specialists, Albany Software.

Equifax launches single customer view solution

Mon, 22 Mar 2010 16:10:07 +0100

Leading consumer and business information specialist, Equifax, is responding to the continuing challenge of the financial services market, providing better capabilities for businesses to manage and exploit customer relationships with the launch of its Single Customer View (SCV) Solution. The innovative tool also helps meet the latest financial services regulations.

Economic recovery will be slow and sluggish into 2011 - new CBI forecast

Mon, 22 Mar 2010 12:32:49 +0100

The recovery in the UK economy is expected to remain sluggish during 2010, and will not pick up much pace until the middle of next year, the Confederation of British Industry (CBI) said today.

BBA's response to Cameron's bank tax proposals

Mon, 22 Mar 2010 12:01:50 +0100

UK banks have already made substantial changes to how they are structured and the amount of capital and cash they hold to help prevent any future problems.

Developers must adopt Consumer Code of Practice for second-hand properties

Mon, 22 Mar 2010 11:27:23 +0100

Property specialists movewithus is urging developers to include second-hand property transactions within the new Consumer Code for Home Builders, which comes into force next month.

Blu Debt Management brings debt management to Northern Ireland

Mon, 22 Mar 2010 11:20:31 +0100

Blu Debt Management has launched into Northern Ireland; it has teamed up with Irish IFA, Rory McLeurson who will become the regional director for Blu in Northern Ireland.

Information Commissionerâs Office puts a value on data protection

Sun, 21 Mar 2010 12:17:18 +0100

Christopher Graham, the Information Commissioner, is urging organisations to put a value on personal information and invest in privacy protection.

Action taken after insurance provider loses over 2,000 peopleâs details

Sun, 21 Mar 2010 12:12:07 +0100

The Information Commissioner’s Office (ICO) has found that the Royal London Mutual Insurance Society breached the Data Protection Act (DPA) after eight laptops, two of which contained the personal details of 2,135 people, were stolen from the company’s Edinburgh offices. The individuals affected were employees of various firms which had sought pension scheme illustrations.

Food for Thought for Jailed Bankrupt Who Was a âMenace to Commerceâ

Sun, 21 Mar 2010 12:07:10 +0100

A former bankrupt director of a food company from Leicester has been sentenced to sixteen months in prison for running a company and obtaining credit whilst bankrupt following a prosecution by the Department for Business, Innovation and Skills (BIS).

David Lammy appoints three new Student Loans Company directors

Sun, 21 Mar 2010 11:43:51 +0100

Minister of State for Higher Education, David Lammy announced the appointment of three new non-executive directors of the Student Loans Company Limited (SLC) today.

Fans want to take over as Premier League club owners â reveals new survey

Fri, 19 Mar 2010 17:06:43 +0100

As the debate around football club ownership intensifies, new research conducted by Co-operatives UK has today revealed that fans want to take control at both Manchester United and Liverpool - and could afford to do so.

FSA confirms Chelsea Building Society merger with the Yorkshire Building Society

Fri, 19 Mar 2010 16:39:54 +0100

The Financial Services Authority (FSA) has announced that on 18 March it confirmed the proposed transfer of the engagements of the Chelsea Building Society to the Yorkshire Building Society.

41st Parameter Names David Walker SVP Worldwide Sales

Fri, 19 Mar 2010 16:18:57 +0100

41st Parameter Inc., the leading provider of online cross-channel fraud detection and prevention solutions, today announced that David Walker has joined its executive management team as Senior Vice President of Sales.

ACF Car Finance charity fundraising...

Fri, 19 Mar 2010 16:09:18 +0100

Dear Associates - I’ve personally pulled together a group of 15 colleagues at ACF Car Finance to run the 2010 Bupa Great Manchester Run (10k) on behalf of BEN, our company’s elected charity. This really is going to be a personal challenge for me as it means I’m going to have to train hard and with only 10 weeks until race day I haven’t got long to get into shape!

Government misreporting on pre-packs 'undermines confidence'

Fri, 19 Mar 2010 15:56:12 +0100

Insolvency trade body R3 challenges the Insolvency Service’s reporting on pre-pack compliance rates, claiming it is issuing misleading figures. The Insolvency Service claims that more than a third of cases in the last six months were deemed to be non-compliant when in fact just 7% were referred to the Regulatory Bodies (RPBs) for possible sanction.

Room for improvement in customer service as consumers urged to look out for OFT Approved logo

Fri, 19 Mar 2010 15:39:59 +0100

Good customer service matters hugely to consumers, but almost a quarter do not believe they receive good service from businesses, according to a new survey released today as the Office of Fair Trading (OFT) urged consumers to look out for the OFT 'Approved code' logo.

Credit and Store Card Review - Government Response

Fri, 19 Mar 2010 15:32:24 +0100

BIS launched its Review of the Regulation of Credit and Store Cards in October. Industry Minute’s summary of the proposals published for consultation at that time is available here. The review was committed to last summer as part of measures set out in the Government’s Consumer White Paper, “A Better Deal for Consumers”.

Help small firms spearhead economic recovery, urges business support group

Fri, 19 Mar 2010 15:01:15 +0100

Next week’s Budget should put in place radical measures aimed at helping small firms spearhead economic recovery, according to the Forum of Private Business (FPB).

Latest Asset Based lending statistics 'show promise'

Fri, 19 Mar 2010 14:53:28 +0100

Asset based lending (ABL) facilities dropped by 8% to £191.3 billion in the year ending 2009 (2008: about £207.7 billion), according to the British Asset Based Finance Association (ABFA). At the same time, Grant Thornton sees increasing competition among lenders who wish to participate in ABL transactions. Moreover, quarterly advances in the year ended 31 December 2009 showed promise, with an upward trend noted in Q1 to Q4.

Phillips & Cohen recruiting new staff

Fri, 19 Mar 2010 11:33:48 +0100

Phillips & Cohen Associates, the UK’s only dedicated deceased recovery specialists, are actively recruiting for a new class of associates, to cater for an influx of new clients across a broad range of sectors. ...

Experian report reveals the changing face of fraud in the UK

Fri, 19 Mar 2010 00:01:00 +0100

Experian®, the global information services company, today published its latest Insight Report, detailing how frauds attempted against UK financial institutions and their customers is on the increase and that the nature of the threat is rapidly evolving.

Banks determined to repay Exchequer in full

Thu, 18 Mar 2010 18:04:39 +0100

Banks are committed to repaying taxpayers in full for their support during the financial crisis, in addition to paying an extra £14 billion in fees, the British Bankers Association (BBA) said today.

ABCUL Annual Conference and AGM 2010

Thu, 18 Mar 2010 17:26:08 +0100

Last weekend saw ABCUL’s Annual Conference and AGM sweep into Blackpool for its tenth consecutive year in the famous seaside resort. Over 300 delegates took in the sea air and some lively debate in the largest annual credit union event of its kind in Britain.

Opportunities and challenges in the downturn 'just like in the 1970s'

Thu, 18 Mar 2010 16:22:10 +0100

The present economic downturn can be a catalyst for growth and better business support, according to the Chief Executive of the Forum of Private Business (FPB), Phil Orford, who was speaking at the Forum’s business support event in Manchester yesterday.

Blake Lapthorn appoints new head of Insolvency and Business Recovery team

Thu, 18 Mar 2010 15:41:28 +0100

Blake Lapthorn, one of the leading law firms in the UK, is pleased to announce the appointment of Licensed Insolvency Practitioner Adrian Owen as the new head of its Insolvency and Business Recovery (IBR) team.

Moreton Smith Wins Prestigious icm10 Awards

Thu, 18 Mar 2010 15:27:31 +0100

We are delighted to announce that Moreton Smith has been awarded the Innovative Solution of the Year Award and International Trade Award at a full-house at the icm10 Awards on 16 March 2010.

Bibby Financial Services urges banks to explain lending decisions

Thu, 18 Mar 2010 12:22:39 +0100

Responding to recent research calling for banks to explain lending decisions, Edward Rimmer, Bibby Financial Services’ chief executive for the UK, said:

Funding priorities have shifted from cost to service for UK business

Thu, 18 Mar 2010 12:18:11 +0100

UK businesses will prioritise reliable service ahead of best price when choosing a funding provider during the recovery, according to an industry think tank hosted by premier Invoice and Asset Based Lender Venture Finance. Recent experiences ranging from a lack of available credit to the withdrawal of facilities with little or no warning will cause firms to consider other, more relationship-based, funding avenues.

Changes to the Financial Services Authority Board

Thu, 18 Mar 2010 12:10:09 +0100

The Chancellor today announced the appointment of Dame Sandra Dawson and Amanda Davidson as non-executive directors (NEDs) of the Financial Services Authority (FSA). They will take up their posts on 1 May 2010.

February gross mortgage lending

Thu, 18 Mar 2010 10:35:26 +0100

Gross mortgage lending in February increased to an estimated £9.2 billion, a 6% rise from £8.7 billion in January, according to new data published by the Council of Mortgage Lenders (CML).

Management of benefit overpayment debt

Thu, 18 Mar 2010 10:11:37 +0100

Department for Work and Pensions: management of benefit overpayment debt. Publication of the Committee's 20th Report, Session 2009-10. Edward Leigh MP, Chair of the Committee of Public Accounts, today said:

BBA Statement on the FSA Business Plan

Wed, 17 Mar 2010 17:35:51 +0100

"Banks support the need for reform and will continue to work with the regulator to improve regulation and strengthen the financial system in the UK. We understand that effective regulation is vital in helping restore confidence in the banking system but supervision needs to be of high quality and holistic, looking at any organisation as a whole and not just a collection of parts.

Grahame Aylott Joins Mackenzie Hall

Wed, 17 Mar 2010 17:29:22 +0100

Mackenzie Hall Ltd continues to strengthen its senior team with the announcement today that Grahame Aylott is joining the fast growing Debt Collection Agency in a business development capacity.

Eurofinas Announces Improvement in European Consumer Credit Market Figures for Q4 2009

Wed, 17 Mar 2010 17:17:05 +0100

Eurofinas, the voice of specialised consumer credit providers at European level, has recently launched quarterly surveys of its members’ new lending business to track developments on the European consumer credit markets.

MCR Statement on Ethel Austin and Au Naturale

Wed, 17 Mar 2010 17:06:08 +0100

MCR, the administrators of value clothing retailer Ethel Austin and its sister company Au Naturale, has confirmed that a further 81 stores will cease to trade in the next 3 to 4 weeks. This follows the closure of 124 stores last month.

Review of Money Laundering Regulations â Summary of Views

Wed, 17 Mar 2010 16:32:34 +0100

The latest Callcredit website Industry Minute reports that HM Treasury has incorporated the observations of a wide range of stakeholders into its newly-published Summary of the Call for Evidence (http://www.hm-treasury.gov.uk/d/mlr2007_summaryofevidence.pdf).

Credit union reform a step closer

Wed, 17 Mar 2010 16:13:44 +0100

A historic change in legislation, which will see credit unions freed up to increase membership and fulfill their potential as providers of financial services, has come a step closer.

Low earners still at risk despite fall in unemployment

Wed, 17 Mar 2010 13:09:34 +0100

The Resolution Foundation said that despite today’s improved unemployment figures, it’s still not plain sailing for the 9.4 million low earners in work. Continued falls in employment levels, growth in long-term unemployment, expectations of a sluggish economic recovery in the private sector and a squeeze on public sector activity and employment mean that sustained improvements in the labour market remain some months away.

Economy will drive banking performance in 2010, finds KPMG's Survey

Wed, 17 Mar 2010 12:55:40 +0100

A new report from KPMG - the UK Banks Performance Benchmarking Survey - concludes that retail banking will continue to improve should the economic recovery continue, but that questions hang over the sustainability of investment banking performance.

Homebuyers' Confidence Fragile Ahead of the Election

Wed, 17 Mar 2010 11:28:24 +0100

Confidence in the housing market remains fragile according to the Building Societies Association’s (BSA) Property Tracker survey, with buyers forecasting that property prices will grow, but uncertain if now is a good time to buy.

Positive unemployment figures continue to mask worrying trends

Wed, 17 Mar 2010 11:23:28 +0100

Commenting on the labour market figures published today by the ONS, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

FSA publishes Business Plan for 2010/11

Wed, 17 Mar 2010 11:11:41 +0100

The Financial Services Authority (FSA) has today published its Business Plan setting out its priorities for 2010/11. The Plan is a demanding programme of work for the year requiring greater policy and supervisory resources, and focusing on a number of key areas:

BBA statement on OFT report on personal current accounts

Wed, 17 Mar 2010 10:43:57 +0100

Eric Leenders, British Bankers' Association (BBA) Executive Director, Retail said:

FSA Mortgage Lending Data published

Wed, 17 Mar 2010 10:26:29 +0100

The Financial Services Authority (FSA) has published its latest mortgage lending data for the United Kingdom covering the period Q4 2009.

CML welcomes new regulatory framework for social housing

Wed, 17 Mar 2010 10:20:25 +0100

The Council of Mortgage Lenders (CML) welcomes the publication by the Tenant Services Authority (TSA) of its new regulatory framework for the social housing sector in England.

Forum urges councils to use LABGI funding to boost small business hardship relief

Tue, 16 Mar 2010 12:40:30 +0100

The Forum of Private Business (FPB) is urging local councils to use the £50 million awarded by the Government’s Local Authority Business Growth Incentives (LABGI) scheme to provide additional hardship relief for small firms.

Preliminary Results for the Year Ended 31 December 2009 - Fairpoint Group plc

Tue, 16 Mar 2010 11:45:55 +0100

Fairpoint Group plc (“Fairpoint” or “the Group”), the financial services business focused on serving financially stressed consumers, today announces its preliminary results for the year ended 31 December 2009.

Equifax puts Statutory Credit Report online

Tue, 16 Mar 2010 11:39:11 +0100

Leading instant online credit information provider, Equifax, welcomed yesterday’s announcement by the Department for Business Innovation & Skills (BIS) of new voluntary measures to improve people’s access to credit files. Indeed, Equifax is the first credit reference agency to make its £2 Statutory Credit Report available online – it has been trialling this service since August 2009 with around 1 in 5 of requests for the Statutory Credit Report* now being deliver ...

Significant improvements in unarranged overdrafts build on progress in PCA market

Tue, 16 Mar 2010 11:31:47 +0100

Real progress is being made towards personal current accounts (PCA) that work well for consumers, with significant developments expected in the market over the next two years, the Office of Fair Trading (OFT) said today.

JBW completes 1st acquisition, creating one of the largest providers of Bailiff services in North

Tue, 16 Mar 2010 09:59:16 +0100

JBW Group Ltd, the ethical debt management and enforcement organisation are delighted to announce their first acquisition. They have acquired National Enforcement Service (NES), a Darlington based organisation which specialises in the enforcement of Council Tax and commercial rent recovery.

Media Statement on Voluntary Code for Credit Card Companies by the insolvency trade body

Mon, 15 Mar 2010 17:40:58 +0100

“R3 welcomes the Government’s new measures on credit cards and we expect that the changes to the allocation of payments will go some way to reducing the UK’s £54 billion credit card debt.

Where is the Ministry of Justice going to go on Debt Management Plans?

Mon, 15 Mar 2010 17:36:05 +0100

According to press reports, The Ministry of Justice (MoJ) will ask on Monday 15th March 2010 for more time to consider the findings of its consultation into debt management plans (DMPs). It is expected to say that the responses to its consultation are still being considered, and it will refrain from announcing immediate legislative action.

Jobs secured as UK 'Market Leader' acquired in buy out

Mon, 15 Mar 2010 17:27:58 +0100

An innovative West Midlands engineering company which has developed high performance, energy saving liners for users of furnaces, kilns and ovens throughout Europe, has been sold to the company's management.

Spectre of buy to let debt dragging down professionals, warns IVA.com

Mon, 15 Mar 2010 17:18:34 +0100

A sharp rise in buy to let investment casualties has seen increasing numbers of people looking for serious debt advice, warns debt solution comparison site IVA.com.

Faster Payments extends its Direct Corporate Access service

Mon, 15 Mar 2010 17:11:42 +0100

It has been announced that, from Monday 15th March, the Faster Payments Service (FPS) is extending its Direct Corporate Access (DCA) submissions from its current 6am – 2pm window to 3am – 11pm, Monday to Friday.

Equifax launches book analyser for debt purchasers

Mon, 15 Mar 2010 17:06:15 +0100

January snow fails to freeze motor finance sales

Mon, 15 Mar 2010 12:21:22 +0100

The latest motor finance figures from the Finance & Leasing Association (FLA) showed that the return of the 17.5% VAT rate and heavy snowfall impacted on sales in January, but consumer new car finance sales were up almost a quarter on last year.

John Denham: Â£50 million to help councils with economic recovery

Mon, 15 Mar 2010 12:16:41 +0100

An extra £50m is being given to councils to help them make big strides toward economic recovery in their local area, announced Communities Secretary John Denham today.

FSA and Police contact 1,000 share fraud targets after seizing another boiler room âmaster ...

Mon, 15 Mar 2010 12:12:23 +0100

The Financial Services Authority (FSA) and City of London Police (CoLP) have contacted 1,000 people across the UK to warn them that their personal details are on a ‘master list’ being used by fraudsters to target and sell them worthless shares.

CSA defends right to consult edited electoral register

Mon, 15 Mar 2010 09:40:01 +0100

Plans to abolish a collection agency’s right to consult the edited electoral roll to trace ‘gone-away’ debtors could have disastrous consequences for the industry, the economy and the consumer.

New rights for credit card customers

Mon, 15 Mar 2010 09:30:38 +0100

The UK Cards Association, which represents the credit card industry, is pleased to have reached a joint commitment with the Department for Business, Innovation & Skills (BIS) as a result of its consultation “Review of the Regulation of Credit and Store Cards”.

FLA and Government agree new credit and store card rights for consumers

Mon, 15 Mar 2010 07:52:12 +0100

Responding to the Department for Business, Innovation and Skills’ announcement on new rights for credit and store card users, Fiona Hoyle, Head of Consumer Finance at the Finance & Leasing Association (FLA), said:

âNew penuryâ strikes as debt grips the more cautious

Mon, 15 Mar 2010 00:01:00 +0100

An unprecedented change in the kind of people needing help with their debts is revealed in the stats year book of Consumer Credit Counselling Service (CCCS) for 2009 published today (March 15). CCCS is Britain's leading charitable debt advice agency.

January cheaper property sales hit by end of stamp duty holiday

Fri, 12 Mar 2010 13:13:24 +0100

House purchase loans fell by more than three times the decline in remortgages in January, according to data released today by the Council of Mortgage Lenders (CML). This emphatically demonstrates the effect on the mortgage market from the end of the temporary stamp duty holiday in December.

Christmas spending catches up with us in March

Fri, 12 Mar 2010 13:02:41 +0100

Figures released today by R3, the insolvency trade body, indicate that almost a third (31%) of personal insolvencies that occur in March have been triggered by overspending during the festive season.

Young adults maximising access to credit

Fri, 12 Mar 2010 00:01:00 +0100

Independent research commissioned by Callcredit Information Group has today revealed that young people aged 18 – 24 appear to be maximising available credit by taking out multiple current accounts with available overdraft facilities across multiple providers.

Consumer Focus response to Government energy rebate scheme

Fri, 12 Mar 2010 00:01:00 +0100

In response to today's announcement by the Department of Energy and Climate Change and Department for Work and Pensions of an agreement over data-sharing with suppliers to target assistance to low-income energy customers, Jonathan Stearn, energy expert for Consumer Focus, said:

Industry chief slams EU rule change on small firm accounting

Thu, 11 Mar 2010 16:39:07 +0100

EU rules that may exempt small firms from filing annual accounts have been condemned as 'utterly absurd' by a leading figure in the credit industry.

Credit insurance refusals a continuing problem for business

Thu, 11 Mar 2010 16:16:24 +0100

The latest research from npower reveals that access to credit insurance continues to be a problem for businesses and a possible threat to economic recovery.

OFT seeks court order against gym management company

Thu, 11 Mar 2010 15:51:07 +0100

The OFT has issued High Court proceedings against a gym management company, Ashbourne Management Services Limited ('Ashbourne'), following concerns about its compliance with consumer credit law and the fairness of its contract terms.

New joint committee proposed to enhance consumer protection

Thu, 11 Mar 2010 15:18:15 +0100

The Financial Services Authority (FSA), Office of Fair Trading (OFT) and Financial Ombudsman Service (FOS) have today proposed the creation of a new consumer protection committee to scan for emerging risks.

Chancellor launches new free money advice service

Thu, 11 Mar 2010 15:12:56 +0100

Chancellor of the Exchequer, Alistair Darling is today launching a new free money advice service to be rolled out around the country.

Forum of Private Business announces key changes providing tailored support for small firms

Thu, 11 Mar 2010 13:24:30 +0100

The business landscape is changing. With economic conditions still extremely challenging, research from the Forum of Private Business (FPB) shows that 66% of businesses want external support – including someone to talk to for advice and information.

Apex Discovery Solutions â The Fully Qualified Trace Team

Wed, 10 Mar 2010 22:15:51 +0100

Apex Discovery Solutions, the specialist tracing arm of Apex Credit Management, has become the first trace company in the UK to receive City & Guilds accreditation for its dedicated trace training programme, further emphasising its commitment to quality.

Aspect positioned as leader in Contact Center Infrastructure Magic Quadrant

Wed, 10 Mar 2010 18:47:57 +0100

Aspect, a global provider of unified communications (UC) and collaboration services and software, today announced it has been positioned by Gartner, Inc. in the leaders quadrant of the 2010 Magic Quadrant for Contact Center Infrastructure, Worldwide report.

Bank of America Europe Card Services supports Sport Relief

Wed, 10 Mar 2010 18:37:12 +0100

Almost 300 members of staff from Chester-based Bank of America Europe Card Services will take to the organisation’s call centre phones to collect donations for Sport Relief.

Disappointing manufacturing figures renew âdouble dipâ whispers

Wed, 10 Mar 2010 18:29:57 +0100

The UK economy, it seems, can’t catch a break. Data released this morning has shown a sharp fall in output for UK manufacturing.

UK firms given the chance to win Â£5,000 to help their business grow

Wed, 10 Mar 2010 18:26:04 +0100

Bibby Financial Services, the specialist factoring and invoice discounting provider, is offering a £5,000 cash prize as part of its efforts to support businesses across the UK.

CML publishes budget submission

Wed, 10 Mar 2010 18:18:20 +0100

With the date of the Budget now confirmed as 24 March, the Council of Mortgage Lenders (CML) is urging the government to commit to the ongoing funding of measures to help borrowers in financial difficulty.

Nick Cherry joins Phillips & Cohen Associates (UK)

Wed, 10 Mar 2010 17:09:58 +0100

Phillips & Cohen Associates (UK) Ltd., a full service debt recovery agency with headquarters in Manchester, has announced that industry veteran Nick Cherry is joining their team as Site Director.

British manufacturing struggling to enter a sustainable recovery

Wed, 10 Mar 2010 13:39:54 +0100

Commenting on the manufacturing output figures for January 2010, David Kern, Chief Economist at the British Chambers of Commerce (BCC), said:

FSA update on PPI reforms

Wed, 10 Mar 2010 11:59:53 +0100

The Financial Services Authority (FSA) has published feedback to its plans to reform the Payment Protection Insurance (PPI) market and announced a further six week consultation on its revised package of measures.

PRCM Advisers, LLC goes live with ePAMÂ® from Princeton FinancialÂ® Systems

Wed, 10 Mar 2010 11:35:32 +0100

Princeton Financial® Systems (PFS), a leading provider of accounting, compliance, data management, performance measurement and reporting solutions for the global investment industry, is pleased to announce that it has added PRCM Advisers, LLC, the external manager for Two Harbors Investment Corp., a newly formed Real Estate Investment Trust (REIT), to its client roster.

Credit Suisse chooses Target Loan Servicing again to manage fixed term deposit portfolio

Wed, 10 Mar 2010 11:27:19 +0100

Credit Suisse has appointed leading financial outsourcing provider, Target Loan Servicing, to manage and service its fixed term deposit portfolio.

New card and banking fraud figures published

Wed, 10 Mar 2010 11:20:59 +0100

New figures released today show that total fraud losses on UK cards fell by 28 per cent between 2008 and 2009 to £440.3 million – a decrease of £170 million on the previous year’s total.

Credit unions best hope to tackle financial exclusion

Tue, 09 Mar 2010 17:44:54 +0100

Support for the supply of affordable credit through credit unions both now and after the election was discussed at a major conference last week. According to the Association of British Credit Unions (ABCUL), if there is to be a real impact on financial exclusion, Government needs to act to create a step change in the scale and effectiveness of the sector.

Peter Sargent comments on Insolvency Service decision to raise cost of bankruptcy

Tue, 09 Mar 2010 16:54:31 +0100

In response to the Insolvency Service's decision to raise the cost of bankruptcy by £90, Peter Sargent, President of R3, the insolvency trade body, said: “Save up to go bust? With the Insolvency Service raising bankruptcy costs by £90 the price of going bust has never been so high, standing at £600 all in, including court fees.

New debt recovery business arrives on the south coast

Tue, 09 Mar 2010 16:42:21 +0100

A new Debt Recovery company was launched in Dorset on 1st March 2010. Acquit Ltd are an independent company who specialise in the recovery of commercial debts on behalf of organisations throughout the UK.

Creating an Effective Fraud-Management Environment for Corporate Banking

Tue, 09 Mar 2010 15:45:22 +0100

The speed and magnitude of corporate wires creates a stressful environment for fraud investigators, whose decisions can have implications costing hundreds of thousands of pounds. However, the additional controls typical of commercial accounts create opportunities for early detection of fraud staging activities.

Recession-fighting firms focusing on sales and marketing, survey finds

Tue, 09 Mar 2010 15:14:58 +0100

Small businesses are hoping to beat the recession by stepping up their sales and marketing strategies, a new survey has revealed.

Aspect to Demonstrate the Business Benefits of Unified Communications at UC Expo 2010

Tue, 09 Mar 2010 10:22:34 +0100

Aspect, a global provider of unified communications (UC) and collaboration services and software, today announced it will be showcasing its unified communications applications for the contact centre and discussing its UC services offerings at UC Expo 2010 on 10-11 March 2010 in Olympia, London.

Apollo accepted as first international member of UK's Debt Buyers & Sellers Group

Tue, 09 Mar 2010 10:08:52 +0100

Apollo Enterprise Solutions, Inc., the leading provider of web-based payment, debt collection and debt recovery technologies, today announced it had been accepted as the first international member of the UK’s prestigious Debt Buyers and Sellers Group (DBSG), part of the Credit Services Association and ‘Voice of the Debt Collection, Sale and Purchase Industry’.

New Director for MCR

Tue, 09 Mar 2010 10:01:20 +0100

Thish De Zoysa has joined MCR, the corporate restructuring and insolvency specialist, as Director. Thish, a qualified chartered accountant, has spent a number of years in audit and business assurance, with over 8 years in corporate restructuring. Thish was previously with the business restructuring team at one of the UK’s leading accountancy firms.

SMEs lose out on Â£5 billion as trading partners go bust

Tue, 09 Mar 2010 00:01:00 +0100

New research published by CreditPal, a free online service for SMEs, reveals that over the last two years almost half (43%) of UK SMEs have been left with monies owed to them as a result of their trading partners or customers going bust. The total amount owed to SMEs is estimated to be around £5.3 billion.

Foundation of the IPF Association

Mon, 08 Mar 2010 17:12:11 +0100

On Wednesday 24 February 2010, in London, 21 leading banks, clearing houses and associated payment service providers formed the International Payments Framework Association (IPFA).

Time running out for advisers to claim Government funding

Mon, 08 Mar 2010 17:06:37 +0100

Standards International today warned that many advisers eligible for Government funding to help with the costs of achieving the international standard in financial planning (ISO 22222) would miss out on the funds if they didn't apply soon.

âIncubatorâ firm sees ten-fold increase in City workers wishing to set up businesses

Mon, 08 Mar 2010 16:55:15 +0100

Sturgeon Ventures LLP, the ‘regulatory incubator’, has seen the number of inquiries from City workers looking for help to set up their own businesses rise ten-fold in the last three months.

Marston Group & Lancashire Police work together to combat crime

Mon, 08 Mar 2010 16:44:16 +0100

Lancashire Constabulary has commended Marston Group’s north west Operations Manager, Darren Connor, following his assistance in a high profile confiscation.

Budget 'must deliver convincing plan for public finances'

Mon, 08 Mar 2010 15:34:09 +0100

The Confederation of British Industry (CBI) is urging the Government to use its last Budget before the election to set out more details of spending plans for government departments in order to boost confidence in the UK’s public finances and provide economic stability.

Â£83 million backing for first time buyers and housebuilding jobs

Mon, 08 Mar 2010 15:11:44 +0100

Housing Minister John Healey has today announced £83 million to get building over 5,700 new and affordable homes stalled by the recession back on track.

BCC downgrades medium-term GDP expectations as risks of a setback heighten

Mon, 08 Mar 2010 13:06:37 +0100

Ahead of the Chancellor’s Budget, expected this month, the British Chambers of Commerce (BCC) has today published its latest Economic Forecast. The business group maintains a prediction of 1.0% GDP growth in 2010, but it has downgraded its growth expectations for 2011 because the obstacles to a sustained medium-term recovery now appear greater.

FSA finalises far-reaching overhaul of UK liquidity regulation

Mon, 08 Mar 2010 12:17:33 +0100

The Financial Services Authority (FSA) has published its final rules on the liquidity requirements expected of firms. The far-reaching overhaul, designed to enhance firms’ liquidity risk management practices, is based on the lessons learned since the start of the credit crisis in 2007. The new rules will require changes to firms’ business models and will bring about substantial long-term benefits to the competitiveness of the UK financial services sector.