Credit, Collections & Insolvency News
Just, the enforcement market integration business has announced the launch of a VAT Support Group. The Ministry of Justice (MoJ) has committed to publishing guidance which will change the way VAT is collected by High Court enforcement businesses. It’s thought that industry changes will be required to ensure compliance and Just, says advice will be…
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New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the consumer car finance market grew in December 2019 by 6% compared with the same month in 2018, and held steady in 2019 as a whole at over 2.4 million cars. The consumer new car finance market reported growth…
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New figures released today by the Finance & Leasing Association (FLA) show that FLA members provided a record £140 billion of new business which helped businesses invest in new equipment and households manage purchases. 2019 saw growth across FLA markets with asset finance and consumer finance new business up by 6% and 1% respectively, compared…
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Consumer spending grew 3.9 percent year-on-year in January, marking a distinct uplift from the low levels of growth seen in 2019. Consumers are feeling upbeat about the country’s economic prospects, with three quarters confident about their household finances. Data from Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, reveals that…
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A new insight report by trade credit insurer Atradius has highlighted the risk in the North American markets,. The country report focuses on the United States, Mexico and Canada (USMCA) region, detailing the political and economic landscape alongside an insolvency forecast and performance outlook into key industries. Within the report, Atradius highlights the slowdown in…
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AI firm Sidetrade and global mobile satellite communications company Inmarsat, has announced that they have won the ‘Vendor/Client Transformation of the Year’ Award at the Future of Finance and CFO Summit Awards, held in London. The judging panel of senior finance professionals singled out the fruitful relationship between the scale-up company and the world leader,…
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Debt recovery specialist Spratt Endicott has announced the appointment of Heather Jackson as Business Development Manager. Jackson will be tasked with driving the department forward, helping to secure new accounts and maintaining strong working relationships. Richard Gwynne, Director of Commercial Recoveries at Spratt Endicott, said: “We’re delighted to welcome Heather to the team. The ability…
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Eleven firms – including several big names within the military, aerospace and defence sectors – have been suspended from the Prompt Payment Code for failing to pay suppliers on time, the Chartered Institute of Credit Management (CICM) has announced. BAE Systems (Operations) Limited, Leonardo MW Limited, and Smiths Detection are among those who have failed…
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Credit Connect’s first webinar of 2020 saw the theme of business transformation within collections discussed at an event hosted by Credit Connect in association with Lightico. Collections professionals from banks, motor finance, utility firms, debt collection agencies, fintechs and credit managers were amongst the viewers. Some of the questions asked in the webinar (with answers)…
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