Late payments from customers are ‘business as usual’ for many small business owners in difficulty, according to new research from the Money Advice Trust, the charity that runs Business Debtline.  The free business debt advice service helped more than 52,400 self-employed people and other small business owners last year. Nearly half (45%) of callers to…

Here is an overview of The Money Charity’s latest statistics for Febrruary 2020 Personal debt in the UK People in the UK owed £1,675 billion at the end of December 2019. The average total debt per household, including mortgages, was £60,213 and per adult was £31,766, around 112% of average earnings. Net mortgage lending rose…

LCF Law’s Insolvency and Corporate Recovery team has announced that it has appointed Mara Gosling as an Associate solicitor in the firm’s Leeds city centre office. Gosling will advise insolvency practitioners, businesses and financial institutions, as well as individuals and company directors, on all aspects of insolvency, business recovery and bankruptcy. She previously spent eight…

the Money and Pensions Service (MaPS) has announced the appointment of 11 sector leaders named who it says will help shape the UK’s future financial wellbeing The leaders will chair Challenge Groups which will recommend how the UK can achieve the five national goals set out in the government-backed UK Strategy for Financial Wellbeing, launched…

Bluestone Group’s expansion in the UK and Irish finance and technology markets has received a substantial boost from alternative asset manager, Pollen Street Capital (“PSC”). The parties have agreed terms on a £15 million capital raising in the form of a 3-year debt facility. Bluestone will use the capital to support the continued growth of…

Barclaycard has launched its inaugural SME Barometer, in partnership with YouGov, revealing that UK SMEs performed well last quarter, and are positive about the year ahead. SMEs saw a strong end to 2019, with Barclaycard processing 5.1 per cent more merchant transactions in the fourth quarter (Q4), compared to the same quarter the previous year.…

Despite political and economic uncertainty, borrowers turned to established and familiar lenders in 2019, according to a new research report launched by Equiniti Credit Services and Credit Kudos. The report titled ‘A Brands’ New Decade: Loyalty on loan as consumers consent to data-driven lending services’ has found that although banks remained the lender of choice…