Category Archives: Opinion
Credit Summit 2018
Last week was the Credit Strategy – Credit Summit, a smorgasbord of credit and collections related topics. In our daily roles there is often intense focus on the collections and recoveries process itself. However, this week, in particular, is a nice change, allowing … Continue reading
Persistent Debt on Credit Cards: New rules from the FCA
On Thursday 1st March 2018 the FCA introduced their new set of rules relating to persistent debt for credit cards. Although there has always been focus on pre-delinquency and early action to prevent escalating debt (CONC 6.7.2-3 are the relevant … Continue reading
What to be aware of … setting your goals for 2018
It is starting to develop, slowly but surely, that end of year feeling. End of year parties are taking place, decorations are up and more importantly EVERYTHING now needs to be done by the end of the week. Unfortunately, the … Continue reading
OFWAT: Affordability in the water industry
Recently OFWAT released their Affordability and Debt document and it has made interesting reading. There has been a significant increase in the debt burden across the water industry, with outstanding bills jumping by £300m over four years. Collectively, supporting unpaid … Continue reading
The GDPR changes headed towards us
Late last year I attended an event in London on compliance and control within the Collections and Recoveries area. The question was asked, “By show of hands, how many of you have heard of or are preparing for the implementation … Continue reading
Trends influencing Credit and Collections
A recent Arum round table focused on wider trends in the credit and collections industry and in particular what this means for the future. There were some interesting common themes, ones that continue to resonate today. Regulation: Discussed at some … Continue reading
Are you responsible? The widening of the regulatory net and treating customers fairly
The other week the FCA have formally launched their consultation paper on extending the Senior Manager & Certification Regime (SM&CR) to all firms they regulate. Up to now, this has only applied to the banking sector. From summer 2018, this … Continue reading
IFRS9… looming changes
There has been quite a bit written about IFRS9 recently. It seems as if the Collections and Recoveries world is waking up to the fact this is not just an accounting standard but will also impact our process. Implementation is … Continue reading
Fake news, the Bank of England and forming your own opinion
Listening to the common narrative these days we hear a lot about being in the era of ‘fake news‘. Whilst undoubtedly there is some ‘made up news’ around, much of the conversation online seems to be spent arguing about stories … Continue reading
Global trends… from your local take out
I have always been fascinated how unusual things can often be indicators of much larger trends. On a recent visit to Manchester I was struck by another. Due to a local football match I had trouble finding accommodation centrally so … Continue reading
