Credit, Collections & Insolvency News
IHS Markit’s UK household finance index has shown that overall perceptions of financial wellbeing in UK households recorded a score of 37.8 in May, representing a slight increase from the previous month’s eight-and-a-half-year low of 34.9. While the headline number did rise, it remained among the worst seen since the survey’s inception in 2009 and…
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Latest figures published by HM Treasury today show that the banking and finance industry has approved over £22 billion in loans to more than half a million (505,040) businesses so far through the three major government-backed lending schemes. In the past week alone lenders have provided over £7 billion to businesses through the Bounce Back…
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Scottish football clubs are being pushed to ‘brink of insolvency’ by coronavirus crisis despite good management and prior health according to a new report by Begbies Traynor. The report says that Scottish football club finances had gained unprecedented stability by the end of March this year, with none of the 42 professional clubs in Scotland…
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Customers must not lose out on the service levels and investment they value most when the Competition and Markets Authority (CMA) re-examines four water companies’ future plans. That’s the warning from CCW – the voice for water consumers – which has written to the CMA to share its views on the cases put forward by Northumbrian Water,…
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Manchester-based SME lender B-North has announced a partnership with Leeds-based RegTech platform TruNarrative to provide onboarding and compliance technology TruNarrative’s platform capabilities will be added to B-North’s selected technology stack providers, which already includes core banking from Mambu and loan originations workflow from nCino (the first time that both providers have integrated their solutions together…
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A man has pleaded guilty to sending out a large number of fraudulent text messages linked to Covid-19 following an investigation by the Dedicated Card and Payment Crime Unit (DCPCU), a specialist police unit funded by the banking industry. Mohammed Khan, 20, from Camden, London, pleaded guilty to one count of fraud by false representation…
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A new survey conducted by Hodge Bank has revealed that (over half of the consumers surveyed) 56% of people are embarrassed to ask their family for financial help. Over 3,000 people were interviewed as part of the study which asked about their attitudes towards finances and aspirations for the future. The study was conducted using…
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Petitions to wind up restaurants increased by 165% last year with another surge expected once lockdown ends according to research by UHY Hacker Young. The research shows that the number of petitions to wind up restaurants over unpaid bills has jumped to 53 so far this year, up 165% from 20 in the same period…
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