Credit, Collections & Insolvency News
UK Finance has announced that over 1.6 million mortgage payment holidays have been offered to homeowners impacted by Covid-19. This means that one in seven mortgages in the UK are now subject to a payment holiday. For the average mortgage holder, the payment holiday amounts to £755 per month of suspended payments. Lenders continue to…
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The Chancellor has announced that small businesses will benefit from a new fast-track finance scheme providing loans with a 100% government-backed guarantee for lenders. Chancellor Rishi Sunak said the new Bounce Back Loans scheme, which will provide loans of up to £50,000, would help bolster the existing package of support available to the smallest businesses…
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New analysis from comparethemarket.com indicates that, despite the new Coronavirus Job Retention Scheme saving millions of jobs, people who have been furloughed may face an immediate financial shortfall. The scheme will mean that people on an average UK salary will receive just over £500 less than their usual monthly pay cheque under the Coronavirus Job…
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The UK’s largest debt advice charities have welcomed emergency legislation banning bailiffs from visiting homes to enforce debts during Covid-19 restrictions – but say the Government ‘must go further’ in helping people struggling with council tax bills as a result of the outbreak. Citizens Advice, Money Advice Trust and StepChange Debt Charity raised concerns with…
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RegTech platform TruNarrative has announced a partnership ikigai. The company will use TruNarrative’s regtech platform to provide customer onboarding and financial crime detection. TruNarrative enables businesses to detect fraud and identify risk using a single API. Their technology is used to strengthen fraud detection and compliance across the globe in a range of industries including,…
Read moreThe Chancellor has just days to act to support struggling small businesses, to save the millions of jobs they represent, and to prevent many of the UK’s three million self-employed workers losing their livelihoods according to a new report by TaxAssist Accountants. The research shows that more than nine out of ten (93%) have significant…
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