Credit, Collections & Insolvency News
A survey from Deloitte has shown that CFOs do not expect businesses to see a quick bounce back from the coronavirus crisis, with many saying demand is unlikely to recover until the second half of 2021. The survey saw 49% of finance bosses say they do not expect demand at their firm to return to…
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Six in consumes are feeling optimistic about their finances amidst Covid-19 pandemic with nearly half of consumers are staying positive after lowering their spending due to lockdown according to new research by Topcashback.co.uk The research found that as stores reopen, the fashion industry may take another big hit as 69% of consumers are consciously spending…
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New research from Santander has revealed that a third (32%) of the UK’s SMEs who implemented changes plan to make their Covid-19 pandemic adaptations a permanent feature post-pandemic as almost half found they not only survived, but actually grew their customer base during Covid-19. The study – which polled 2,050 senior leaders in UK SMEs…
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Consumers over-55s are expected to borrow £19 billion less over the next two years as a result of the coronavirus crisis, according to new research from equity release lender, more2life, and economics consultancy, Cebr. The reduction is expected to be due to the older generation being more cautious amid the current economic uncertainty and cutting…
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Almost one third (30%) of European businesses have been forced to cut staff or wages to survive during the pandemic, with business finances set to be further stretched when government support winds down, according to a new survey from accountancy and business advisory firm BDO. In total, two thirds (65%) of European businesses polled by…
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The Resolution Foundation says working-age households have suffered the worst income shock since mid-1970s, with the coronavirus crisis delivering a 4.5% decline in typical household incomes in May. The decline is the steepest since the 5.1% recorded in 1974 and exceeds the 2.7% fall in incomes seen in the wake of 2008’s financial crash. The…
Read moreThe Money Advice Trust and StepChange debt charity say that changes to professional standards proposed by the Joint Insolvency Committee do not go far enough to protect financially vulnerable people from harm. The charities are particularly concerned about the practices of lead generation companies that Individual Voluntary Arrangements (IVA) providers pay for referrals and are…
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