Credit, Collections & Insolvency News
Persistent debt has been on the radar of UK banks and lenders for some time now and they’ve been busy putting new processes in place to help the millions of customers considered to be in this predicament. Many financial institutions are affected by the persistent debt initiative and it’s fair to say the major UK…
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Ofgem has announced that Gnergy, a gas and electricity supplier with around 9,000 domestic customers and a small number of non-domestic customers is ceasing to trade. Under Ofgem’s safety net, the energy supply of Gnergy’s customers will continue and outstanding credit balances of domestic customers will be protected. Ofgem will choose a new supplier to…
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New research reveals which industries in the UK submit the most Suspicious Activity Reports, with banks and building societies leading the way. Suspicious Activity Reports (SARs) are submitted to the National Crime Agency by individuals or institutions such as banks, estate agents, solicitors and accountancy firms. The reports are submitted when a person or organisation…
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The government has pledged to do “whatever it takes” to support a greater number of British businesses and individuals as the coronavirus outbreak causes major economic disruption. In an announcement Chancellor Rishi Sunak said government would “stand behind businesses small and large”, pledging government-backed and guaranteed loans “to get through this” as he announced the…
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An in-depth investigation by the Competition and Markets Authority (CMA )has found that payments company Bottomline’s purchase of Experian Payments Gateway does not raise competition concerns. Bottomline and EPG provide payments software used by businesses to submit direct debits, make payroll payments and pay suppliers. This software allows customers of both companies to make payments…
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Lender, Together has announced the appointment of Clare Sadler as Field Underwriting Specialist. Sadler is underwriting professional with more than 20 years industry experience has joined specialist lender Together as it expands its broker relationship team. Sadler started her new role this month as the company boosts its capability to support brokers. In the last…
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Laura Ashley has filed for administration after failing to secure £15 million of emergency cash to stay afloat. The move puts around 2,700 jobs at risk.The company said that owner MUI Asia was not willing to provide the extra cash, and could not secure a loan from elsewhere. In a statement the company said “The…
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