Credit, Collections & Insolvency News
UK hotel insolvencies hit a five-year high last year, rising by 60% to 144* (year to September 30 2019) from 90 the year before, according to research by UHY Hacker Young The rise in insolvencies is driven in part by a slowing UK economy, which has caused businesses to cut back on conferences and ‘away…
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Credit card debts have fallen for first time since July 2013 according the latest Bank of England Money and Credit Banking statistics. The latest figures show that borrowers repaid £100 million in November, reflecting falling demand for consumer lending. The annual growth rate in unsecured consumer lending dropped to 5.7% from 6.1% in October, as…
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More than half of the UK consumers (almost 27 million), will head into 2020 in debt, with almost five million owing over £10,000 in loans and credit, according to a poll conducted by money.co.uk. Money.co.uk polled 2,018 people living in the UK, aged 16-64 years, and found that, not including mortgages, almost two thirds (63%) will…
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