Credit, Collections & Insolvency News
The world is facing a major economic crisis as a result of the COVID-19 pandemic and many businesses and individuals will inevitably face the prospect of becoming insolvent. When a person or a business becomes insolvent their creditors will hope to recover any debts owed to them via the traditional insolvency process. However, with an…
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Experian, and other credit reference agencies (CRAs), have confirmed new guidance to protect business credit scores during the Covid-19 pandemic. Lenders can now offer an ‘emergency payment freeze’ to businesses that may be worried about meeting regular payments because of the pandemic. Once agreed, lenders should not report a build-up of arrears to the four…
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Thames Water has today announced the appointment of Sarah Bentley as Chief Executive Officer (CEO). Bentley joins from Severn Trent Water where she was the Chief Customer Officer responsible for customer retail and network operations, group technology and transformation. Bentley led the transformation of Severn Trent’s digital customer experience, as well as delivering a fundamental…
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Car Insurer, Admiral has revealed that it will give back £110million to its car and van insurance customers in recognition of the fact that its customers are staying at home and driving less during the UK wide Covid-19 lockdown. A £25 refund will be automatically given to all customers for each car and van covered with…
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Online gambling operator, BetVictor has announced a partnership with global information and insights company TransUnion. The company says that whilst the gaming sector is experiencing a significant impact in light of the COVID-19 pandemic, with major events and sports fixtures cancelled in light of social distancing, it is as important as ever to ensure consumers…
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New research from Citizens Advice reveals one fifth (20%) of UK adults say they have applied or expect to apply for benefits as a result of the coronavirus outbreak. This rises to 68% of people on zero-hours contracts. The findings come as government data today shows over 1.5 million households made a Universal Credit claim…
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More than one in four UK companies are being heavily impacted by the coronavirus pandemic. That is the conclusion of the business intelligence specialist Graydon which it says is based on the financial health of UK businesses and the current economic situation. Graydon estimates that of all companies that identified as healthy at the beginning…
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Eight in 10 consumers are ‘worried about their money’ and millions have cut back on their spending since the UK began self-isolating. A study of 2,000 adults found 47 per cent have drastically reduced their outgoings, feeling the need to stockpile cash instead. Four in ten direct debit users have plans to cancel at least…
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Business decisioning data and analytics specialist, Dun & Bradstreet has announced that it is offering a free Business Essentials package to support small businesses in the UK mitigate risk and restart growth in the wake of the COVID-19 pandemic. The company is also making a number of resources available to public sector organisations in support…
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Commercial finance provider, Independent Growth Finance (IGF) has appointed Paul Whitaker as Chief Risk and Operating Officer. Whitaker joins IGF after two and a half years at Barclays bank, where he held the position of Head of Business Transformation and Delivery. With the COVID-19 crisis presenting a significant challenge for many UK SMEs, Whitaker joins the business to further assert IGF’s position as a leading alternative…
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