Credit, Collections & Insolvency News
An increase in personal debt as a result of the Covid-19 lockdown is likely to be a key driver behind many bankruptcies between now and Christmas, according to a top insolvency practitioner. Ian Defty, Partner at insolvency and restructuring firm CVR Global, believes the UK is set to face a deluge of bankruptcies or debt…
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Consumer sentiment has rebounded to pre-pandemic levels according to fresh data from PwC UK, which shows that at -1, sentiment is now in line with levels seen between 2015-19, and is now better than at any point between 2008-14. It is a significant turnaround from the low point of -26 recorded the weekend before the…
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The Government has announced new plans for laws that will require mandatory independent scrutiny of pre-pack administration sales where connected parties, such as the insolvent company’s existing directors or shareholders, are involved in the purchase. The new laws will improve confidence and transparency in pre-pack administration sales, giving the general public and creditors reassurance that…
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Specialist short term lender Hope Capital has announced the implementation of a new ID verification and messaging technology by partnering with Nivo. Nivo’s app-based messaging allows a borrower to securely verify their identity with Onfido’s biometric identity verification AI. Additionally, it provides Hope Capital with necessary documentation pertinent to the loan by sharing photos from…
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