Credit, Collections & Insolvency News
R3, the insolvency and restructuring trade body, has launched its 2019 election manifesto, which sets out the policies that will help the insolvency and restructuring profession continue to support businesses and individuals going through financial distress. These include: The abolition of plans to make HMRC a priority creditor in insolvencies The introduction of the proposed…
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The Finance & Leasing Association (FLA) has identified three improvements that the incoming Government must adopt to transform customer protection in the consumer credit market, and strengthen the growth of a sustainable and productive economy. Priorities for 2020 and Beyond highlights the fact that the 45-year-old Consumer Credit Act (CCA), which underpins every consumer credit…
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SME specialist, OakNorth Bank has announced that it intends to expand its debt finance team with four new appointments and will also open a new Birmingham office to support businesses in the MidlandsSteve Mitchell and Marcus Hook will be based out of the bank’s newly-opened Birmingham office aimed at supporting SMEs in the Midlands, whilst …
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Birmingham is set to become the ‘Silicon Canal’ of Europe, according to AI firm Sidetrade, who revealed it will open a new tech hub in the city in 2020. Rob Harvey, Sidetrade’s Director of solutions consulting, shared the news at an invite-only trade mission event by the UK Government’s Department for International Trade (DIT), on…
Read moreAccording to new research by online bank Marcus by Goldman Sachs, almost three fifths (59%) of consumers in the UK feel pressured to overspend in social situations, which is costing us an average of £270 a year. The most common reasons why people said they felt pressured to overspend in social situations was because it…
Read moreNew analysis from MarketFinance has found that SMEs are being stretched by longer payment terms. The analysis found that businesses typically agree 45-day payment terms from completion of work or delivery of goods. Despite this, almost two-fifths (39%) of invoices issued in 2019 (worth over £34b2) were paid late, an improvement on 2018 when 43%…
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