Credit, Collections & Insolvency News
The Insolvency Service has released its annual figures on business insolvencies which show that excluding one-off ‘bulk insolvency events’, seasonally adjusted corporate insolvencies in 2019 rose 6.8% from 2018. Excluding these one-off events, there were 17,196 business insolvencies in 2019 – the highest since 2013 Underlying Creditor Voluntary Liquidations were at their highest annual level…
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The Insolvency Service has released its annual figures on personal insolvencies which show that in 2019, there were 122,181 personal insolvencies, an increase of 6% on 2018, and the highest annual total since 2010. This was mainly due to an increase in Individual Voluntary Arrangements which reached their highest year on record. Personal insolvencies fell…
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Credit card spending rose by 7.3% and personal borrowing through loans jumped by 14% in December, trade body UK finance has revealed in its latest Household Finance Update. Figures from the trade body of the UK banking and finance industry have revealed that the credit card spending of £11.8 billion in December 2019 was 7.3%…
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Finance & Insurance (F&I) specialist AutoProtect have announced that Tara Williams will be re-joining AutoProtect Group filling s newly created role of Chief Risk and Compliance Officer. Additionally, she will become Managing Director of i-Comply Online – the business she headed up following its acquisition by AutoProtect in 2014. Williams’s appointment comes at a crucial…
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TransUnion has announced that it has raised £11,300 for child protection charity NSPCC in support of its Childline service, which provides young people with a place to turn to for help. TransUnion’s colleagues supported this initiative in the UK with a host of activities throughout 2019. These included a trek to Everest Base Camp and…
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Analysis from global consulting partnership Kearney has found a growing appetite for point of sale (PoS) credit finance – otherwise known as ‘buy now, pay later’ – among younger UK consumers, with over 60% (67%) of Millennials now using this service. While 42% of Millennials have used a ‘buy now, pay later’ service more than…
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