Credit, Collections & Insolvency News
A study by Onward has found that around 20% of British businesses are only making enough profit to cover their debt interest payments. High levels of corporate debt built up by companies during the COVID-19 pandemic has pushed 4.3% of firms into technical insolvency, the report estimates. In the new research paper titled ‘Paying it…
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Many recipients of government support after the onset of the pandemic crisis saw their income fall one or two months before receiving support according to findings of new work, funded by the Standard Life Foundation. In the period in between, household spending hit a low and non-payment of bills hit a high. This particularly affected…
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The TUC has warned that the government that NHS Test and Trace system risks failure unless ministers boost Statutory Sick Pay (SSP) and ensure everyone is eligible for it. The warning comes as new polling reveals that more than four in ten workers would be plunged into financial hardship if forced to self-isolate for two…
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The process for companies that have applied to be struck off the Companies House register has now resumed (from Thursday 10th September 2020) following changes to temporary measures announced in April 2020. Due to the coronavirus (COVID-19) outbreak, Companies House paused all strike off activity to relieve the burden on businesses and to protect creditors…
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Fintechs Ebury and MarketFinance, have announced that they have joined forces to offer both CBILS loans and revolving credit facilities to UK SMEs to support them with their business finance needs. The immediate focus of the partnership is to offer lending products under CBILS terms to Ebury clients, the fintechs intend to work together in…
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