Credit, Collections & Insolvency News
Experian has announced the launch of its economic and commercial portfolio webinar series. The webinar series aims to help companies navigate the challenges that they face in 2021. Experian says that in the months since the Coronavirus first hit the headlines we’ve seen and experienced seismic shifts in the way we live, work and spend.…
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BT Group is facing a class-action lawsuit over claims it failed to compensate elderly customers who were overcharged for landlines for eight years. In 2017, telecoms watchdog Ofcom found that BT had been overcharging 2.3 million landline customers since 2009. Law firm Mishcon de Reya has launched an opt-out collective action, Justin Le Patourel v…
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Younger drivers more than twice as likely as older generations to have deferred car financing repayments in 2020 according to new research by Deloitte. The research, based on responses from more than 1,500 driving-age consumers in the UK, revealed that 27% of drivers aged 18-34 have requested a payment deferral on car financing in 2020,…
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New data published by the British Business Bank has revealed the regional distribution of loans under the Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan Scheme (BBLS). More than 1.4 million loans have supported businesses and protected jobs across all sectors. The figures show that the retail and construction sectors have benefitted…
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The coming year is set to mark the peak of the pandemic-induced living standards downturn for households, especially those on lower incomes, even as the economy enjoys a vaccine-induced recovery, according to new Resolution Foundation research. While the debate around the current economic crisis and recovery tends to focus on GDP, the annual Living Standards…
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New SME specialist bank, Recognise has announced the appointment of Anita Maclean to join their executive team. Maclean’s role will focus on the development and execution of the bank’s future strategy. Mclean will also work closely with the CEO, Jason Oakley and Deputy CEO, Bryce Glover on a range of key projects linked to the…
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Specialist lender Together has hired a highly-experienced industry professional as a Regional Account Manager for the North. James Briggs, who has worked in the specialist market for more than two decades, brings a wealth of knowledge of the industry to his new role, which begins this week. Previously, he has held senior positions for specialist…
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A new report by Lowell has revealed that 51% of households are expecting to be worse off financially due to Covid-19 – together with the fact that 93% of the UK had their pay date in December brought forward, meaning that 39% of households will struggle financially (an increase of 32% from last year). Longer…
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An overhaul of the Prompt Payment Code (PPC) to crack down on delayed invoices owed to small businesses has been announced by the Government. Under new reforms, companies that have signed up to the Prompt Payment Code will be obliged to pay small businesses within 30 days – half the time outlined in the current…
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