Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell by 47% in April 2020 compared with the same month in 2019. In the four months to April 2020, new business fell by 23% compared with the same period in 2019. The vehicle…
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New figures released by the Finance & Leasing Association (FLA) show that new business volumes in the consumer car finance market fell in April 2020 by 94% compared with the same month in 2019, and by 33% in the first four months of 2020. The consumer new car finance market reported new business volumes 97%…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes fall by 69% in April 2020 Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said “The second…
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Stuart Ramsden has been named Regional Director UK & Ireland for leading trade credit insurer Atradius. Ramsden, who has been with the firm since 1991 succeeds Alun Sweeney who steps down from the role he has held for over 10 years at the end of June. Ramsden’s appointment is effective from 1st July 2020 Having…
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UK Retailers saw record online sales last month as trading more than doubled but it still failed to offset the impact of empty high street stores, according to new figures from BDO. The BDO retail sales tracker for May revealed that online sales more than doubled compared with the same month last year – the…
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As UK businesses cautiously return to trading, a review of the last eight weeks of the ACCA UK and Corporate Finance Network (CFN) SME Health Tracker has revealed that the lockdown has had a marked impact on SMEs’ financial outlook. Since early April, the Tracker has gauged SMEs’ financial health when the lockdown officially began…
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More than a third of furloughed private renters (37%) are worried about being able to pay their rent when the coronavirus lockdown ends, according to new research published today by the independent Joseph Rowntree Foundation (JRF). This means around 250,000 people in this group could be in a position where they struggle to meet their…
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A new international study by Yolt, has suggested that UK consumers are less likely to regularly save for emergencies than their European peers, but this could soon change. Just 58% of UK respondents said that they regularly save money to ensure they have funds in the case of an emergency. This is compared to 79%…
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The Office for National Statistics (ONS) has published its latest set of economy indicators on the Business Impact of Coronavirus in the period 4th May to 17th May 2020. The findings show that 42% of businesses responding to the Business Impact of Coronavirus Survey (BICS) had less than 6 months of cash reserves, while 79%…
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The economic fallout of the pandemic could leave 1.1 million more people below the pre-Covid poverty line at year end, including a further 200,000 children, according to analysis released by an IPPR think tank. The think tanks says that without urgent action to protect families from the financial hardship caused by the pandemic, this would…
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Just, the enforcement market integrator has appointed Sean Lawrence as its Senior Analyst. Lawrence joins Just after six years with TDX Group. Lawrence has extensive experience of designing recovery and performance strategies and drawing conclusions through the application of advanced data mining on large datasets and at TDX was responsible for large public-sector debt portfolios. During…
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The Government has announced it will extend renter eviction measures by two months. The announcement by the Housing Secretary means that millions of renters across England and Wales will receive greater protection after the government extended the suspension of new evictions until 23rd August taking the moratorium on evictions to a total of five months.…
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A report by TheCityUK has predicted that the Government’s three lending schemes will see borrowing boom from the current £27 billion to £123 billion by Q2 next year. The task force has proposed several ways the debt burden could be reduced, including exchanging troubled debt at larger businesses for preference shares, or swapping small businesses…
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