Credit, Collections & Insolvency News
The HM Revenue & Customs ‘Time To Pay’ (TTP) support has been welcomed by Duff & Phelps. The company says that the growing scale of economic disruption amid volatility in financial markets as a result of the coronavirus (COVID-19) means that urgent steps are required to restore business confidence. As a result, businesses should welcome…
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Joseph Rowntree Foundation (JRF) has urged the Government to go further to protect people on low incomes from the impact of coronavirus. The Government has rightly committed to several bold and compassionate measures that will offer security to many businesses and employees. But new data published today by the DWP shows that the country entered…
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Britain is facing an unprecedented time, with the Covid-19 pandemic threatening jobs; particularly freelancers, the workforce on ‘zero-hours’ contracts, leisure workers and small business owners. New research by TransUnion commissioned just before the outbreak, has found that that one in five consumers (21%) wouldn’t manage financially if they lost their job tomorrow, and this number…
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Struggling companies undergoing a rescue or restructure process will be allowed to continue trading, giving them breathing space to avoid insolvency. New government measures mean that the change involves temporarily suspending wrongful trading provisions retrospectively from 1st March for three months for company directors so they can keep their businesses going without the threat of…
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High-cost short term lender (Payday lender) Uncle Buck has entered administration. The Financial Conduct Authority (FCA) had concerns that Uncle Buck Finance was failing to meet the adequate resources Given the severity of these concerns, the FCA has required Uncle Buck to stop lending to customers. Following on from this action, the members of Uncle…
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Debt resolution specialist, Hoist Finance has announced its new sustainability strategy, which outlines the company’s Environmental, Social and Governance (ESG) goals and indicators. Through a bottom-up process, integrating feedback and insight from employees throughout the whole organisation, Hoist Finance developed a sustainability strategy focused on four core pillars: contributing to an inclusive financial ecosystem, creating…
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