Credit, Collections & Insolvency News
Credit Connect’s latest webinar saw the theme of innovation in mobile collections technology discussed at an event hosted in association with Esendex The webinar titled ‘Agile collections technology that’ll outlive the pandemic’ was the latest in the series of Credit Connect webinars which have looked at the latest thematic innovations enhancing collections strategy. The webinar…
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New analytics by FICO has shown that average spending on credit cards fell for first time since May. Average credit card limits continued to fall by a further £22 to £5,382 and as issuers start to open their doors to new credit applications, this limit may continue to drop. The highest proportion of accounts, 28.9…
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New figures from the Insolvency Service have shown that business insolvencies in England and Wales increased by 4% in November 2020, with 889 business insolvencies in November 2020 compared to October’s figure of 862, and were 41% lower than November 2019’s figure of 1,512. However, business insolvencies in November 2020 fell by 41% compared with…
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New figures from the Insolvency Service have shown that personal insolvencies in England and Wales fell by 22% in November 2020, with 9,319 personal insolvencies compared to October’s figure of 11,945, and were 3% lower than November 2019’s figure of 9,568. Both DROs and Bankruptcies fell by around one third in November 2020 compared with…
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Scottish personal insolvencies in November 2020 fell by almost a third when compared with November 2019 numbers. The figures released by Accountant in Bankruptcy (AIB), Scotland’s Insolvency Service which administers company liquidations and receiverships in Scotland showed that in November 2020 that there were 8,417 personal insolvencies in the year to the end of November…
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Scottish business insolvencies in November 2020 fell by almost half compared with November 2019 numbers. The figures released by Accountant in Bankruptcy (AIB), Scotland’s Insolvency Service which administers company liquidations and receiverships in Scotland showed that in November 2020 there were 46 company insolvencies in Scotland, a reduction of 47% in comparison to November 2019.…
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Northern Irish personal insolvencies decreased by two thirds according to the latest Insolvency Service figures. Personal insolvencies numbers in November 2020 fell by two-thirds compared with November 2019. There were 91 personal insolvencies down 68% from November 2019; this consisted of 52 IVAs, 17 DROs and 22 bankruptcies. Company insolvencies in November 2020 fell by…
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Parliament’s Public Accounts Committee has today has published a report into the Bounce Back Loan Scheme (BBLS) set up to help businesses at the height of the coronavirus (Covid-19) pandemic. The new report contains six key findings: The Government was not sufficiently prepared to support micro-businesses despite the economic impact of the pandemic being a known risk…
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Admiral Financial Services has announced that it has selected challenger credit reference agency Credit Kudos to provide Open Banking data to initially help with income verification in a bid to support consumers across its personal loan products. This partnership will provide Admiral with access to additional, more up-to-date information than was previously available through traditional…
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New research from Citizens Advice has shown that 2.1million households are behind on their energy bills, 600,000 more than in February. The charity’s research also reveals a quarter of all energy customers, up to seven million households, worry they won’t be able to pay their bill this winter. According to data, the charity has obtained…
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