Credit, Collections & Insolvency News
Scotland has the lowest proportion of firms at greater than average risk of insolvency of anywhere in the UK, although the percentage of Scottish companies at elevated risk has risen sharply over the last six months, according to research from insolvency and restructuring trade body R3. In the April figures, Scotland has the lowest overall…
Read moreZopa has announced a governance restructure in advance of launching its next-generation bank. The re-structure will establish separate boards for the Zopa P2P business, proposed bank (subject to banking licence approval) and Group in order to facilitate the increasing scale of the business, ensure good corporate governance and protect the interests of its customers. The…
Read moreHarrington Brooks has announced on its website that it has that its Debt Management Plan (DMP) portfolio has been transferred to Gregory Pennington from HB Financial Solutions Limited (Harrington Brooks). In addition, IVA portfolios have been transferred to Freeman Jones Limited which were managed by One Advice Limited, trading as Harrington Brooks IVA. As part…
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The ‘high cost short-term’ lending industry has gone through a transformation since it was reviewed by the Financial Conduct Authority (FCA) last year. Speaking as a Director of MYJAR, we can see that Industry standards have been raised and with this so have consumer perceptions. There is no longer a ‘taboo’ around instalment borrowing and…
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Sixteen shops are closing on the high street every day. The rate has doubled in a year, with the retailers blaming a perfect storm of rising prices, online competition and a slump in consumer confidence according to research by PwC. New figures compiled by PWC and Local Data Company, a retail analytics company, have shown…
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A financial controller has received a lengthy bankruptcy restrictions order following a trial for diverting funds from her employer to herself. The 13-year Bankruptcy Restriction Order made on 15 February 2018 against Chasjit Verma of Romford, Essex, followed an investigation by the Insolvency Service. Chasjit Verma was made bankrupt on 4 March 2016, having presented her…
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The financial services industry has been a little behind the curve on automated speech recognition (ASR) technology. It’s not hard to see why. In the past few years, the fallout from the 2008 financial crisis, a swathe of new regulatory regimes, and other market issues have kept the sector busy. Few organisations have had the…
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Thousands of self-employed, agency and zero-hours contract workers will be potentially hundreds of pounds a year worse off under universal credit, according to research. Analysis by Citizens Advice claims that flaws in the new benefit mean self-employed workers whose earnings fluctuate monthly could receive far less over the course of a year than employees in…
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