Credit, Collections & Insolvency News
New research from Provident Personal Credit has revealed that almost half (47%) of the UK consider themselves to be ‘just about managing’ (JAMS) financially. The survey of 2,000 adults revealed that 14% had to give up necessities like food and daily travel costs to pay for unexpected expenses, with a further 11% of respondents saying they had…
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Steve Hughes has been named as the new Chief Executive Officer (CEO) of Principality Building Society. Hughes is currently the Finance and Transformation Director is set to move into the role in early March following Graeme Yorston’s decision to step down as CEO. Laurie Adams, chairman of Principality said “After a rigorous selection process, I am…
Read moreMillions of people in the UK who rent their homes from private landlords are putting themselves and their families at risk of eviction and financial hardship due to lack of a financial back-up plan, according to research from Scottish Widows. Despite almost a third (30%) of private renters admitting that they’d not be financially secure…
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The Credit Services Association (CSA) has criticised a report from the Institute of Fiscal Studies (IFS) that suggests only a fraction of the cash being raised by a new levy on firms of a certain size from April will be spent on Apprenticeships. The CSA also disagrees with the IFS claim that increasing the number…
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An overwhelming majority of industry experts believe the UK’s decision to leave the EU will lead to a rise in corporate insolvencies over the next year, according to a new study by R3. A survey of insolvency and restructuring firms also shows that 55 per cent believe their finances “have been hurt” since last June. Insolvency…
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Wonga will confirm that it has decided to offload BillPay, one of its most valuable units, to Klarna, a Swedish provider of e-commerce solutions according to Sky News. Klarna operates in Austria, Germany, the Netherlands and Switzerland. The deal will take place this week and will be worth about £60 million. Talks between Wonga and…
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