Credit, Collections & Insolvency News
Insolvencies in the UK are forecast to jump by 27% this year, slightly higher than the global average rise of 26%, reveals a new economic research report by top trade credit insurer Atradius. The latest Atradius Insolvency Report analyses the economic impact of the Covid-19 pandemic and the knock-on effect on insolvencies. Every major economy, except…
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HM Government has confirmed the new statutory Breathing Space scheme is to come into effect on 4th May 2021. To simplify, a consumer with multiple debt problems can consult an FCA registered Debt Advisor who will gather from the consumer details of their debts and verify that information. The consumer’s details are then placed on…
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Energy supplier SSE has been fined £2.06m by the regulator Ofgem for failing to publish inside information about the wholesale energy market. Ofgem says that in its investigation it found that SSE failed to publish, in a timely manner, information about the future availability of its generation capacity. This was likely to have had a…
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The economic impact of the coronavirus crisis has been far-reaching with millions of people unable to work due to lockdown restrictions. New research shows that nearly a third (31%) of UK adults have seen their income cut as a direct result of the crisis. The research, commissioned by GoCompare Money, reveals that 8% of people are…
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A Standard Life Foundation study of national survey of household finances has shown that of the 3.7million households in the UK granted a bill ‘payment holiday’, over six in ten are already facing financial difficulties and will struggle to repay their debts when these arrangements end. For many, these payment holidays will cease on 31st…
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Order-to-cash payment process specialist, Onguard has announced the appointment of Tim Blok as the company’s new Chief Technology Officer (CTO). In his new position, Blok will be focused on the platform’s future innovation, drawing on his technical expertise, experience at the company and his ability to translate the needs of the market into technology. The…
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