Credit, Collections & Insolvency News
The number of mortgages in arrears of 2.5 percent or more of the outstanding balance fell again in the third quarter of 2017, but cases of possession edged upwards from a historically low level according to new figures released by UK Finance. At 88,300, the number of loans in arrears was two per cent lower…
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The number of debt decrees registered against businesses in Scotland fell during the third quarter of the year, according to figures released today by Registry Trust. There were 561 decrees against all businesses in the third quarter 2017, down 43 percent compared with the same quarter a year ago. The total value of all business…
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New figures released by the Finance & Leasing Association (FLA) show growth of 3% in consumer finance new business in September, compared with the same month last year. In Q3 2017, new business grew by 6% compared with the same quarter in 2016. In September, credit card and personal loan new business together grew by…
Read moreNew figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) fell by 6% in September, compared with the same month last year. In Q3 2017, new business fell by 2% compared with the same quarter in 2016. While new finance for business equipment grew…
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In the last week I have had three separate conversations with business people and read a few LinkedIn posts about profitable, growing businesses that have either closed down or are on the verge of closure as a result of cash flow problems or in their words “not getting paid from their customers” It is only…
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The Bank of England decision to hike interest rates for the first time in ten years is positive news for savers as they will start to see better returns on their cash savings, but for the growing number of people in the UK struggling to keep a lid on their financial debt, this rate hike…
Read moreWith pressures on businesses coming from many angles, it can seem illogical to stop trading with a customer. But when payment terms are being continually stretched or late payment is putting your business at risk, is the customer worth keeping? Whilst ending customer relationships is arguably a last resort, implementing a stop list for the…
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Arrow Global Group has announced its results for the nine months ended 30 September 2017 (Q3 2017). Commenting on the results Lee Rochford, Group Chief Executive Officer, said “In the first nine months of the year, Arrow continued to grow strongly and profitably. Portfolio purchases in the period increased by 30%, and we are on track…
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SSE and Npower (owned by Innogy) have agreed to merge SSE’s household energy and energy services business to form a new independent retail energy company. Innogy will hold a minority stake of 34.4 percent in the business, while SSE plans to demerge its 65.6 percent stake to its shareholders upon completion of the transaction. Last…
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New IFS research, funded by the Nuffield Foundation, looks at recessions, inequality, and the role of the tax and benefit system. It finds that planned benefit cuts will leave low-income households more exposed to the impact of future recessions. If falls in the earnings of workers seen between 2007–08 and 2011–12 happened again now, the…
Read moreThe Treasury Committee has launched a new inquiry into household finances. The Committee will take a broad look at the state of UK household balance sheets, including whether households are saving adequately in the current economic environment. It will scrutinise problematic indebtedness, inter-generational issues, lifetime financial planning, and the effectiveness of the market in financing solutions…
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