Credit, Collections & Insolvency News
Credit Kudos, one year since LendIt’s PitchIt… In October last year I pitched our vision to transform the credit bureau to an audience of investors and lenders for LendIt’s PitchIt competition. Nearly a year on, and with consumer debt levels spiralling out of control, the case for major change is more prevalent than ever. Since…
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Northern Ireland’s manufacturing sector has the lowest rate of firms at a higher than normal risk of insolvency of anywhere in the UK, according to the latest research by R3. In August less than one in five (19 per cent) of the North’s manufacturing businesses were considered at higher than normal risk of becoming insolvent…
Read moreUK Finance has published the latest contactless usage figures as contactless technology hits its 10th anniversary. The first contactless cards in the UK were launched in September 2007, with 111 million in issue in June 2017. During the first half of this year, the amount spent using contactless technology (£23.23 billion) almost matched the amount…
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Ferguson Litigation Funding (FLF) has announced that is has hired business development and client care specialist Paul Cooklin, joining from litigation funder Manolete Partners, where he was chief operating officer. Cooklin has worked in the legal profession since 1984 and has extensive knowledge of the domestic and international commercial and business law sector. Cooklin joins from litigation…
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Shire Leasing has announced that it has surpassed £100 million in own book lending. The news comes only 5 months after it secured a further £37.4m facility under the government-backed British Business Bank’s ENABLE Funding programme, in place to help it increase funding to smaller businesses. Mark Picken, Shire’s Managing Director, said “The £100 million figure is…
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Parents who increasingly have to fork out for iPads, extracurricular activities and uniforms when their children go back to school, are being advised to budget carefully to avoid being pulled into a cycle of debt. PayPlan says that while the price of uniforms has been driven down in recent years, families still have to pay…
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Short term lender, Cheque Centre has gone into administration. The firm once had more than 300 high street branches but last year closed its remaining outlets to focus on trading over the internet under the Square Today brand. FRP Advisory have been appointed administrators. FRP Advisory said the shift in business strategy left Cheque Centre with…
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Home credit specialist Buy As You View(BAYV) has entered administration. Buy As You View, owned by Dunraven Finance, has made 41 job losses with another 226 jobs are at risk. Buy As You View, has 40,000 customers across the UK. EY confirmed it had been appointed by Buy As You View as administrators. EY said…
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