Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) has published updated final guidance, confirming an initial proposal, that as a last resort, consumer credit lenders would once again be able to terminate regulated agreements and repossess goods and vehicles. The change took effect on 31st January 2021. While the ban, which was introduced on April 27th last year,…
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New analysis by FICO have indicated that the average balances on credit card accounts missing two or more payments are increasing. Analysis of card trends for December 2020 presents a mixed picture of UK consumer financial stability. Some of the data suggests that credit card users are managing their finances prudently, but where there is…
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Company cash flow complications are increasingly common, more so due to the current COVID-19 pandemic. Business finance experts across the nation are increasingly noticing the warning signs of poor business cash flow far too often. Last year, the UK economy, measured by gross domestic product (GDP), shrank by a record 19.8% in the second quarter…
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The United States of America (USA) can anticipate a robust economic rebound in 2021, with political uncertainty decreasing and an injection of fiscal stimulus reveals the latest report from leading trade credit insurer Atradius. The new Country Report anticipates a more positive outlook for the USA following the change of administration but cautions that downside…
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More than 300,000 households could be automatically switched onto more expensive ‘default’ energy tariffs in February if they do not switch tariff or provider when their deal comes to an end according to new analysis by comparethemarket.com In February, there are 167 fixed energy tariffs coming to an end with the average annual cost of…
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New research released by Resolver has revealed widespread confusion over payment holidays and the potential impact on people’s future finances. The company says to help people face down the financial challenges posed by the pandemic, the Financial Conduct Authority (FCA) introduced clear rules for lenders so they could offer people ‘holidays’ from mortgage, loan, credit…
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The persistent debt crackdown from the Financial Conduct Authority (FCA) has pushed credit card firms to be more supportive of customers struggling with long-standing debt since the rules came into force in 2018. However, according to the latest analysis from Moneyfacts over the same period the interest-free balance transfer market has contracted. The analysis reveals…
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Credit insurance specialist, Coface has predicted an uneven recovery form the global pandemic across countries, sectors of activity, and income levels in its latest quarterly report. The company says that although the performance of China and other Asian economies is boosting global growth, the main mature economies will not return to their pre-crisis GDP levels…
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