Credit, Collections & Insolvency News
The Treasury Committee has published a unanimously-agreed report on Economic Crime. The report says that in the first half of this year, over £600 million was stolen from consumers. Economic crime is a serious and growing problem in the UK. One method to combat it is Confirmation of Payee, which will cross-reference payee names with…
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2.3 million households (8%) owe £267 million to energy suppliers before winter begins – averaging £115 each according to new research by Uswitch Averaging £115 per household, the debt level is £126 million less (32%) than last year, while the number of bill payers in arrears has also reduced by 610,000 (21%). Record switching rates,…
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The Financial Conduct Authority (FCA) has appointed new members to its Consumer Panel. Erik Porter, Jonathan Hewitt and Julia Mundy begin three-year terms as members of the independent Financial Services Consumer Panel. Hewitt has wide-ranging experience gained over 25 years in retail investments and banking, in a variety of roles across marketing, business development, strategy,…
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Northern Ireland’s latest Insolvency figures show that there has been a 21.5 percent increase in the number of company insolvencies in the last three months. Company insolvencies in Northern Ireland rose by more than a fifth over the last quarter with 79 firms becoming insolvent from July to September period, according to Insolvency Service figures.…
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LendInvest has hired a new Director of Mortgage Underwriting, and further expanded its regional sales team with a second business development manager for the North West. Gene Clohessy joins the team as Director of Mortgage Underwriting. Clohessy previously worked for a range of banks including Bank of Ireland, Allied Irish Banks, and most recently Shawbrook…
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Target Group has announced a change of leadership. The company has announced that Ian Larkin will step down as Chief Executive Officer (CEO) of the business at the end of the year. After five years at the helm, Larkin has led Target through a huge transformation by doubling the business size, broadening its client base…
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New data published analysis shows that there has been no let-up in the number of retail businesses entering insolvency, with 1,252 insolvencies in the sector in the last year, up from 1,232 the year before says RPC, the City-headquartered law firm. Insolvencies in the sector have hit a five-year high and are 31% higher than…
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