Credit, Collections & Insolvency News
Consumer group Which? has urged the Financial Conduct Authority (FCA) to extend loan repayment holidays and interest-free overdrafts until January 2021, saying demand for support will surge after the job retention scheme winds up on 31st October. The consumer champion’s submission to the FCA’s consultation makes four key recommendations that the regulator should adopt to…
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Digital payment solutions provider, PayPoint has launched a new collection tool for the motor finance sector. Named PayByLink, the platform allows lenders to engage with customers on a personal level, sensitively and responsibly, collecting due or arrears payments with care. With the majority of finance companies granting payment freezes to customers, PayByLink gives lenders an…
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The Insolvency Service has published its latest figures which indicate that in July 2020 that there were ten company insolvencies in Northern Ireland down from 21 in July 2019, this consisted of seven CVLs, one CVA, one administration and one compulsory liquidation, the first compulsory liquidation in Northern Ireland since the implementation lockdown on the…
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Trade credit insurer Atradius has analysed the impact of the coronavirus pandemic on five Asian markets in its latest series of country reports. The new reports detail the economic impact within India, Japan, Indonesia, Thailand and Vietnam, revealing economic contraction, sharp swings in export rates and a rise in business insolvencies. As part of the…
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The Insolvency Service has published its latest figures which indicates that in July business insolvency numbers in England and Wales increased by 29% when compared to June 2020 but are 34% lower than in July 2019. The figures show that there were 955 company insolvencies in July 2020. comprising of 590 creditors’ voluntary liquidations (CVLs),…
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Accountant in Bankruptcy has published its latest figures which indicate that there were 550 personal insolvencies (bankruptcies and protected trust deeds (PTDs)) in July 2020, 670 (54.9%) less than in July 2019. Bankruptcies decreased by 37.1% in July 2020 when compared with July 2019. PTDs decreased by 63.7% over the same period. There were 237…
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The Insolvency Service has published its latest figures which indicates that in July personal insolvency numbers in England and Wales decreased when compared to June 2020 (12% lower) and July 2019 (40% lower). There were 1,621 Debt relief orders (DROs) and 913 bankruptcies in July in England and Wales (the latter was made up of…
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The Insolvency Service has published its latest figures which indicate that in July 2020 there were 52 company insolvencies in Scotland, a reduction of 46% in comparison to July 2019. This comprised of 20 compulsory liquidations, 28 CVLs and four administrations. There were no company voluntary arrangements or receivership appointments. Historically the volume of company…
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