Credit, Collections & Insolvency News
National free debt advice provider PayPlan has announced that it is continuing its commitment to tackling the stress and stigma of financial problems head-on with the launch of a new campaign. ‘Debt Heroes’ has been designed to encourage those with money issues to reach out for free help sooner. Hosted on the PayPlan website, it…
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Insolvency and restructuring trade body.R3 has announced that Stuart Frith, a Partner at Stephenson Harwood LL will be its new President. With over 30 years’ experience in the insolvency and restructuring profession, Frith has expertise covering both corporate and personal insolvency work. A partner in Stephenson Harwood since 2009, he is also a Deputy Judge…
Read moreCredit managers, those who keep the cash flowing in business, are untroubled by Brexit, unimpressed by new regulation, and keen to see how new technology can enhance performance in the future. They are also valued by the companies who employ them, and actively involved in the performance and success of the businesses they represent. These…
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Here is an overview of The Money Charity’s latest statistics for April 2018: Personal debt in the UK People in the UK owed £1.578 trillion at the end of February 2018. This is up from £1.53 trillion at the end of February 2017– an extra £1,169.92 per UK adult. Per adult in the UK that’s an average debt of…
Read moreOver the last few months I’ve spoken to many business owners. Time and again I’ve encountered in them a crippling dislike of calling clients and chasing for payment. They’ll email the reluctant payer until the cows come home yet do all they can to avoid picking up the phone and speaking to them! Which leads…
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Latest government figures indicate that the UK unemployment rate fell 0.1 percentage point from the previous quarter to 4.2%. Responding to the figures Campbell Robb, Chief Executive of the independent Joseph Rowntree Foundation said “More people in work, but many still trapped in poverty. Whilst it is welcome that more people are in work than…
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The first non-bank payment service provider (PSP) has joined a UK payment system settling in central bank money. TransferWise, a Financial Conduct Authority (FCA)-regulated PSP facilitating the international transfer of payments, is now a direct participant in the UK’s Faster Payments system. A key component of this work involved the Bank extending settlement account access…
Read moreAs bricks-and-mortar retailers continue to struggle, landlords have to brace themselves for more tough negotiations ahead. Even as spring shows signs of finally emerging, there are no green shoots of encouragement for landlords of retail premises. Poor profits reported by big name retailers indicate that rental negotiations will be difficult, with retailers pushing for substantial…
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Five commissioners have been appointed to the Commission for Customers in Vulnerable Circumstances. The new appointments are Joanna Elson, Chief Executive of the Money Advice Trust, Simon Crine, Director at the Money and Mental Health Policy Unit, Caroline Wells, co-founder of the disabled access review website MeIncluded, Janet Morrison, Chief Executive of Independent Age and Audrey Gallacher, Director of…
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New research* ‘Investor Sentiment: Alternative Credit’ from NN Investment Partners (NN IP) reveal increasing scarcity of high return assets followed by political risks are the two biggest issues concerning investors over the next two years. The investment manager says this will fuel growing demand for alternative credit, which delivers attractive returns that have low correlation…
Read moreSMEs (Small or Micro Businesses) are particularly sensitive to both good and bad fortune – large profits can turn into losses very quickly when an unforeseen hurdle is hit. The majority of businesses can be saved by rigorous action as soon as directors realise that there is a problem, rather than burying their heads in…
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Debt owed to UK businesses across eleven core business sectors was £580m higher in the last three months than in Q4, 2017 according to latest figures from a Creditsafe. After falling to a 12-month low in Q4 2017 with £157.9m being filed, bad debt (debt owed to businesses) filed in the first quarter of 2018 reached…
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