Credit, Collections & Insolvency News
With millions of outstanding in tax revenues and unpaid debts, local authorities and central government agencies are evaluating how they recoup their losses. Around six million people across the UK have found themselves with bills they cannot pay as a result of the Covid-19 pandemic. This figure, from Citizens Advice, was taken from a survey…
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The Financial Conduct Authority (FCA) has confirmed measures to ensure that firms provide tailored support for users of certain consumer credit and overdraft products who continue to face payment difficulties due to coronavirus (Covid-19). The guidance will cover users of credit cards and other revolving credit (store card and catalogue credit), personal loans, motor finance,…
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Three-quarters of older homeowners would welcome additional support from advisers if they were vulnerable according to new research from more2life. More2life asked homeowners aged 55 and over how they would react if their adviser offered them support because they thought they were vulnerable, three-quarters (74%) said they would be comfortable with this. However, even though…
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Companies House has set out its new strategy for 2020-25 which outlines a commitment to tackling economic crime and driving confidence in the UK economy. The announcement follows the publication of the government response to the corporate transparency and register reform consultation. As well as setting out its. purpose and vision for the next 5…
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The Business Banking Resolution Service (BBRS) consultation for a new business complaints service has reflected a high level of demand for the new service following an exercise with stakeholder organisations. The work has been undertaken to ensure the service is developed in line with the needs of its customers – for both historical and contemporary…
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American Express and Amazon Business launch co-branded credit cards for small businesses in the UK. American Express says that the cards offer a host of rich rewards and payment flexibility designed to help businesses better manage their cash flow and gain greater insight into their spending. Commenting on the new Card launch, Colin O’Flaherty, General…
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The Government is risking a substantial increase in company collapses by not extending a key insolvency measure, the Institute of Directors (IOD)has warned. In its Winter Economy Plan last week, the Government failed to renew the suspension of ‘wrongful trading’ rules for company directors. Under normal circumstances, directors have a strict duty to cease trading…
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Business finance specialist Swoop has announced that it has selected Ko-bolt as their debt recovery partner. Through the partnership, 46,000 businesses will now be to access a debt recovery service designed to maintain the buyer-supplier relationship. Commenting on the agreement Ko-bolt CEO, Karl Hague said “We’re thrilled to have been selected by Swoop as their…
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