11th September 2019 - Credit Connect

Prompt payment code to get the attention it needs

11th September 2019 Industry opinion |

As far back as 2013, we said in a press release titled ‘Government is letting small to medium size businesses down’ that the Prompt Payment Code needs a complete overhaul as it clearly isn’t fit for purpose. We also said that it needs to be given real powers to be able to act effectively on…

Restructuring drives record levels of store closures

11th September 2019 Commercial Credit Management |

Heightened restructuring activity has seen the half-year net reduction in stores on Britain’s high streets hit record levels according to research by the Local Data Company (LDC) and PwC. The first half of 2019 saw almost twice as many store closures (16 per day) as openings (9 per day). In total, 1,634 stores opened and…

Loan balances with arrears falls to lowest level in 12 years

11th September 2019 Consumer Collections |

The latest Mortgage Lenders and Administrators Statistics from the Bank of England show that the proportion of total loan balances with some arrears has fallen to its lowest level in 12 years. The Mortgage Lenders and Administrators Return (MLAR) is a quarterly statistical release aggregated from data on mortgage lending activities provided by around 340 regulated mortgage…

SMEs resilient despite economic uncertainty

11th September 2019 Commercial Credit Management |

CYBG’s SME Health Check Index, a quarterly measure of performance and outlook for UK SMEs, fell by 6.9 points to 41.9 in Q2 2019, as economic and political uncertainty continued to weigh on business confidence. The study overall, however, reveals a mixed picture, with continued resilience in the labour market, and encouraging insights on business…

Lantern makes CFO and CTO appointments

11th September 2019 Consumer Collections |

Debt purchaser, Lantern have announced that they have appointed a new Chief Finance Officer (CFO) Andrew Kirk alongside an additional Exec appointment of Chief Technical Officer CTO) Andy McCleod, both of whom join the Lantern team to help deliver our strategy and vision, following the retirement of Trevor Howe. Kirk is a Law graduate, a…

Target Group announces Non-Executive Director board appointment

11th September 2019 Consumer Collections |

Business process outsourcing (BPO), Target Group, has announced the appointment of Aileen Wallace as an Independent Non-Executive Director and board member. As an established Board Executive, Wallace has expertise in digital business transformation across retail and commercial banking. She has more than 10 years’ experience in executive and non-executive roles, helping to leverage growth opportunities…

Ofgem appoints Utilita Energy to take on Eversmart customers

11th September 2019 Consumer Collections |

Ofgem has appointed Utilita Energy Limited to take on supplying Eversmart Energy’s domestic customers, and the small number of business customers. This follows an appointment process run by Ofgem to get the best deal possible for customers. All outstanding domestic and non-domestic customers’ credit balances, including money owed to both existing and former customers of…

Local councils bailiff use rises 7% over 2 years

11th September 2019 Consumer Collections |

The use of bailiffs to collect debts owed to local authorities in England and Wales has risen by 7 percent in two years, driven by a surge in the use of bailiffs to collect parking debts, according to new research by the Money Advice Trust, the charity that runs National Debtline and Business Debtline. More…

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