Credit, Collections & Insolvency News
The majority (55%) of UK SMEs are being paid later as a result of the pandemic in a trend that is threatening the economic recovery, according to research by Bibby Financial Services (BFS). More than a third (36%) of SMEs have seen payment times increase by more than three weeks, while 28 per cent have…
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New data released by UK Finance has revealed that the final month of full lockdown saw the annual growth rate of outstanding credit card balances fall by 12.6 per cent in the year to May, as consumers continued to pay down their credit card bills. May also saw credit card spending by UK cardholders slowly…
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Non-standard financial services, provider Morses Club has announced that Shelby Finance, the Group’s Digital Division, has entered into a new supplier relationship with digital payments provider Modulr Finance. The relationship relates to the Digital Division’s U Account business, which provides e-money accounts, and replaces the Company’s existing relationship with Wirecard Card Solutions. Modulr’s platform will…
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New research commissioned by GoCompare Money reveals that a third of UK adults are avoiding using cash because of the risk of spreading the Coronavirus. The research found that since the UK went into lockdown, the use of ‘tap and go’ cards and online payments have outstripped the use of bank notes and coins. 27% of those surveyed…
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New research from MoneySuperMarket reveals that graduates are leaving university with additional non-student loan debts worth £3,770 – up £209 on £3,561 in 2019. Following last week’s A-level exam results, for those students who received the required grades for university and start to plan for their academic year, the UK’s leading price comparison spoke to recent graduates…
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Household finances in the UK fell more sharply in August than the previous month after rising levels of unemployment hit average incomes and persuaded millions of families to cut back on spending according to the latest IHS Markit UK household finance index. The finance index was down following steady increases through May, June and July,…
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