Credit, Collections & Insolvency News
The number of guarantor loan problems Citizens Advice has helped people with has risen by 40% over the last year, latest figures show. When taking out a guarantor loan the borrower gives the name of a guarantor, normally a friend or family member, who is then pursued for payment if the borrower can’t repay. Last…
Read moreAs we hit mid-February, it’s easy to convince ourselves that the worst of the winter is over. Goodbye to having the heating on 24/7, needing 10 extra minutes every morning to ensure your windscreen is frost-free and glumly watching the daylight fade away at around 3pm. Hello to occasional green leaves, occasional blue skies and…
Read moreResponding to the Government’s consultation on a new single financial guidance body, LV= says that the new body should be required to report on the consumer outcomes of guidance, as well as the number of people it refers to regulated financial advice at retirement. This should ensure consumers are being supported to make the right…
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Oxygen Finance has tannounced the acquisition of Satago. The transaction will see the businesses working together to offer comprehensive early payment, finance and cash flow solutions for both large buying organisations and suppliers of all sizes, including SMEs. Oxygen provides the capability for large public and private sector organisations to pay suppliers ahead of contracted…
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Inequality is on the rise, with the difference in financial fortunes between low and high income families becoming starker over the past year, according to Aviva’s latest Family Finances Report. At the same time, families are also facing increased financial pressure from stalling incomes and savings, combined with rising debt and inflation fears. The savings…
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Business failures across West Dunbartonshire have left a trail of debt. The council has written of £535,646 in unpaid business rates, the total amassed by firms across the area who have either dissolved or gone into liquidation Councillors on West Dunbartonshire Council’s corporate services committee agreed to write off the National Non Domestic Rates (NNDR),…
Read moreSalford city council has launched an ‘anti-poverty strategy’ which will ‘robustly review’ the Council’s debt collection practices. Salford Mayor, Paul Dennett has launched the initiative. Dennet said “We want our work to become a beacon of best practice in the fight against poverty.” The strategy promises a review of the Council’s debt collection. “Our collective debt collection…
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