Credit, Collections & Insolvency News
UK business groups and insolvency experts are again sounding the alarm about Government plans to prioritise repayments to HMRC over repayments to other creditors in insolvencies from 6th April 2020. In a joint statement ahead of the Budget, the groups are warning the new Chancellor that the Government’s proposals will damage access to finance for…
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The Chartered Institute of Credit Management (CICM) has confirmed it has transferred the hosting and administration of the Prompt Payment Code to the Small Business Commissioner’s (SBC) office in line with the Government’s stated ambition to bring all late payment initiatives under a single umbrella. Since its launch in 2008, the Code has played an…
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Consumer spending grew 2.2 per cent year-on-year in February, propped up by digital subscriptions and takeaways, as consumers stayed home to avoid bad weather according to new data from Barclaycard. The date, which sees nearly half of the nation’s credit and debit card transactions, revealed that spending on essential items rose by 1.6 per cent.…
Read moreIn response to the coronavirus outbreak, Citizens Advice is urging the Chancellor to shore up protections for millions of workers in Wednesday’s (11th March 2020) budget, including making immediate changes to Universal Credit. The charity saw three times as many visits to its sick pay advice pages last week compared to the same time last…
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Energy regulator Ofgem has opened a compliance case into ScottishPower’s complaints procedures, which includes concerns about the supplier’s handling and resolving of critical issues, diagnosing root problems and the impact this has on poor outcomes experienced by customers. Ofgem says that ut has have been increasingly concerned about the volume of ScottishPower’s referrals to consumer…
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Business advisory firm Quantuma has completed a merger with Scotland’s leading independent insolvency provider WRI Associates. The acquisition will see Quantuma take on WRI’s office in Glasgow, headed by partner, Ian Wright, and its 8 members of staff. The firm will operate under the Quantuma brand. WRI is an insolvency and restructuring practice, providing independent…
Read moreNon-financial behaviours such as social media use and transactional behaviour may be used in future credit risk assessment with implications for access to consumer finance, according to a report released by Registry Trust. The ‘Futures of Credit Risk Assessment in the UK’ report written by Senior Lecturer Joe Deville of Lancaster University and published by…
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Aon has agreed to acquire Willis Towers Watson for almost £22.9 billion in an all-stock deal to create one of the world’s largest insurance brokers – a combined value of around $80bn. The company will be called Aon and will retain its operating headquarters in London. Upon completion, existing Aon shareholders will own approximately 63%…
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Salary Finance has completed the acquisition of od Neyber. The acquisition creates the UK’s largest employee financial wellbeing platform. Salary Finance will now serve 500 client partners and reach 3 million employees. The client combined portfolio includes 15% of the FTSE 100 and many household name employers, such as BT, Dixons Carphone, Virgin Active, Co-op,…
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