Credit, Collections & Insolvency News
The Insolvency Service has published the latest personal insolvency figure for England & Wales which indicates that the total numbers of insolvencies in Q1 2020 decreased when compared with the previous quarter and the same quarter in the previous year (Q1 2019). The figures largely pre-date the Government lockdown and wider impact of the Coronavirus…
Read more
The latest figures from the Insolvency Service have shown that total insolvencies increased in Northern Ireland in Q1 2020. There were 621 individual insolvencies in Northern Ireland in Q1 2020. This was an increase of 7.4% compared with the same quarter of the previous year. In Q1 2020 there were 621 insolvencies, up 7.4% on…
Read more
The latest figures from the Insolvency Service have shown that total insolvencies increased in Northern Ireland in Q1 2020. There were 83 company insolvencies in Northern Ireland in Q1 2020, this is 26% higher than the same quarter in 2019. Of these, 51 were compulsory liquidations and 20 were CVLs. There were also seven CVAs,…
Read more
Latest figures from Accountant in Bankruptcy, Scotland’s Insolvency Service have indicated that personal insolvencies decreased in Scotland in Q1 2020 There were 3,156 individual insolvencies in Scotland Q1 2020. This was a decrease of 3.8% compared to the same quarter of the previous year. This comprised of 1,129 sequestrations (of which 455 went into sequestration…
Read more
Latest figures from Accountant in Bankruptcy, Scotland’s Insolvency Service have indicated that company insolvencies decreased in Scotland in Q1 2020 There were 235 total insolvencies in Scotland, a fall of 14.5% from the same quarter of 2019. This comprised of 137 compulsory liquidations, 77 CVLs, 20 administrations, one company voluntary arrangement and no receiverships. The…
Read more
Consumers are becoming more empowered when it comes to their financial future thanks to myriad factors. From open banking, where bank account information is shared with an approved third party (with your consent), to new challenger banks offering consumer-orientated solutions designed to solve real pain-points, the landscape is changing rapidly. Never before have we seen…
Read more
Barclays has issued a warning about the cost of the pandemic in its latest financial results, which saw that pre-tax profits fell to £913 million amid Covid-19 crisis. The company says it could be forced to take a £4.5 billion charge to cover bad debts in 2020 as a result of the coronavirus pandemic. The…
Read more
Non-standard financial services lender, Morses Club has announced that it has secured an extension of its revolving credit facility (RCF) with its existing funding syndicate until the end of November 2021. The Company has agreed a reduction in the level of the facility from £50 million to £40 million to better reflect the requirements of…
Read more
MotoNovo Finance have announced that they will extend partnership with Flexys Solutions which will allow the company to implement a digital hardship evaluation tool that enables customers to securely provide information about their changed circumstances via a digital form. The data collected is then automatically triaged using configurable rules and followed up using automated workflow…
Read moreThe proportion of UK small businesses predicting growth has plummeted from 39% to just 14% in the last three months – with 31% of business owners scaling back their businesses and 30% saying they will struggle to survive between now and the end of June. The findings form part of a quarterly tracking study of…
Read more