Credit, Collections & Insolvency News
The High Court Enforcement Officers Association has adopted a new best practice plan for post-lockdown enforcement activity across England and Wales over the coming weeks and months. The post-lockdown plan, entitled “A Flexible and Sympathetic Approach to Enforcement”, sets out the principles, working practices and behaviours that all High Court Enforcement Officers (HCEO’s) and representatives…
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Consumer confidence amongst those aged 25-34 has seen a marked improvement, according to research from PwC UK, which comes ahead of government guidelines published this week paving the way to the reopening of non-essential retailers. The figures show that consumer sentiment went up from -7 to +16 for consumers in this age group based on…
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One-in-eight (13 per cent) private renters have fallen behind with their housing costs since the coronavirus crisis started, compared to just one-in-twelve (8 per cent) mortgaged home owners, highlighting how the pandemic has exacerbated Britain’s housing divide, according to new Resolution Foundation research. The report, based on a YouGov survey of 6,005 UK adults aged…
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The banking and finance industry has confirmed its continued support for commercial landlord customers as part of its ongoing commitment to help business customers through these difficult times. With the June/July rent quarter soon approaching, lenders recognise that commercial landlords and their tenants may have concerns about their ability to make their payments. Banks and…
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The Association of British Credit Unions Limited (ABCUL) has called on the Insolvency Service and the Insolvency Practitioners’ Association (IPA) to stop insolvency firms making money out of those disadvantaged by the coronavirus. Last week the largest provider of IVAs, Creditfix, wrote to creditors asking them to approve a £84.12 fee on each of their…
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New research from challenger credit bureau, Credit Kudos, has revealed the strain that financial pressures can put on people’s mental health. With many people losing their jobs or being furloughed, people need access to affordable credit to help them deal with the financial difficulties posed by the COVID-19 crisis. The research reveals a quarter (26%)…
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Overall business confidence fell in May by a further percentage point to -33%, according to the Lloyds Bank Commercial Banking Business Barometer, sitting at the all-time lowest level recorded in December 2008 during the global financial crisis. The decline illustrates that little has changed in terms of sentiment for UK businesses, following the sharp fall…
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Fintech business DebtStream has announced that it has partnered with Qualco to power their digital capabilities providing highly personalised and flexible self-service customer journeys within the company’s collections & recoveries platform. DebtStream has said that it aims to transform the collections landscape with their digital self-service solution focused on delivering engaging experiences for customers in…
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British Business Bank has announced that it has approved a new lender for accreditation to the Bounce Back Loan Scheme (BBLS) for small business across the UK. The scheme is intended to target small and micro businesses in all sectors, with loans from £2k up to 25% of the business’ turnover with a maximum loan…
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