Credit, Collections & Insolvency News
Experian has joined businesses from across the UK in an initiative to help the country and its most vulnerable citizens to pull through the coronavirus crisis. Former Cabinet minister Rt Hon Justine Greening has launched the C-19 Business Pledge. The national scheme encourages businesses to join the coronavirus effort by pledging to help their employees,…
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As we enter what is likely to be an extended period of social isolation, many of us will be challenged to remain positive while we work through periods of illness, adapting to new ways of working, and new daily routines. The nature of social media and uninterrupted access to news also puts us at risk…
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The Financial Conduct Authority (FCA) has proposed a range of targeted temporary measures designed as a stop-gap to quickly support users of certain consumer credit products who are facing a financial impact because of the exceptional circumstances arising from coronavirus. The package is intended to complement measures already announced by the government to support mortgage…
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Millions of people across Britain risk falling through gaps in the coronavirus wage subsidy plan and benefits system, according to The Resolution Foundation think tank. The think tank says Government must get Universal Credit (UC) ‘battle ready’ for the UK’s growing unemployment crisis by encouraging more people to claim, extending eligibility to more middle-income households,…
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A survey by the British Chambers of Commerce (BCC) has found that 62% of businesses have only enough cash to keep operating for the next three months, while 18% said they had sufficient capital to cover their outlay for only a month. The survey found that companies were planning to put large numbers of workers…
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The Credit Services Association (CSA) is urging its members to review all of their current activities and treatment paths to ensure they are doing everything possible to support their customers and the wider UK community through the current Covid-19 crisis. The CSA which represents more than 90% of the typically call-centre based firms, says that…
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LegalTech business ME Group, which solves complex legal disputes using technology, has called for the government to ensure that lenders do not use the recent Bank of England interest-rate cut to boost profits at the expense of borrowers on standard variable rate (SVR) mortgages. ME Group CEO Rob Cooper said that when the Bank took…
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