Credit, Collections & Insolvency News
Just has announced that it has launched a virtual enforcement solution. The new virtual enforcement solution means collection will be performed by qualified and trained enforcement staff from the comfort of a desk rather than in a debtor’s home. Debtors will be able to arrange suitable payment plans and arrange a time and day for…
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The government has been fast to react to the negative economic impact of the measures they have taken in response to COVID-19. These have generally been received positively by business. However, as a result of the rapidity of the response there will be unintended consequences. In this year’s budget, Rishi Sunak, the Chancellor of the…
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Non-essential shops have been allowed to re-open for business by the government. As a business owner in the retail industry, this has no doubt been a welcome announcement, however, you would be forgiven for not thinking that this means ‘back to normal.’ The next few months will be critical, and it will no doubt be…
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The Money and Pensions Service (MaPS) is launching a new online tool to help people navigate their finances in the wake of Covid-19 and avoid financial issues worsening in future, as the organisation reveals over 1 million people have already looked to MaPS for help dealing with the financial impact of the pandemic. The Money…
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A new study into the nation’s finances has shown that a fifth (20%) of consumers believe Coronavirus has been a financial wakeup call, with almost a third (30%) admitting they were unprepared money-wise for the situation. The research, conducted to mark the launch of Zopa’s bank, shows 38% of people are now likely to create…
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Spending on non-essential items improved in May relative to the record fall seen in April, data from Lloyds Bank shows. Following April’s 42% year on year fall, the biggest on record, spending in May was down 32% giving hope to businesses that demand is still there. Whilst the lockdown was eased slightly in the month…
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Overall business confidence improved by three percentage points in June, the first increase recorded since January, according to the Lloyds Bank Commercial Banking Business Barometer. Despite still sitting in negative sentiment, the increase is the highest level seen since the start of the pandemic in March, however, confidence remains well below levels seen before the…
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The Financial Conduct Authority (FCA) has confirmed that the credit card payments freeze could be extended for another three months for customers still suffering from the economic impact of coronavirus. After imposing a three-month pause on repayments for those struggling amid the fallout of the pandemic on the economy, the Financial Conduct Authority (FCA) has…
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