Credit, Collections & Insolvency News
A new report from Barclays Corporate Banking has revealed that since the start of the pandemic, the disruption faced by businesses across the UK has been unprecedented with the retail and wholesale sectors suffering extreme changes in its supply chains and consumer demand. Before the pandemic, the average supply chain took five weeks from start…
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New research from StepChange Debt Charity reveals levels of household borrowing and arrears attributable to coronavirus have soared to £10.3 billion since the start of the pandemic, an increase of £4.3 billion (66%) since May. StepChange’s report, ‘Tackling the Coronavirus Personal Debt Crisis‘, has found the number of people affected by Covid who are in…
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Aire has been selected to join Visa’s Fintech Partner Connect programme which enables clients to access the next generation of digital payment experiences. Aire’s involvement in the programme, which was launched today, will help to connect Visa’s financial services clients across Europe to Aire’s first-party data, information gathered directly from the consumer, to help inform…
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New credit card accounts plummeted following the start of the first UK lockdown, but potentially riskier sub-prime approvals have bounced back hardest, more than doubling since August 2020, according to data from the new Equifax Market Pulse series. The overall volume of new credit card accounts bottomed out in May, 86% below March levels when…
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Accountancy firm RSM has called on the Chancellor to urgently consider a twelve-month delay to the introduction of HMRC’s preferential creditor status. This change, due to come into effect on 1st December 2020, will have the dual effect of limiting funding and restructuring options for businesses, which RSM believes will undermine the current rescue culture…
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