Credit, Collections & Insolvency News
Furlough and forbearance appear to be masking the true impact of the pandemic, which may well lull politicians and lenders into a false sense of security according to software provider FICO. The company’s analysis of UK card trends for January 2021 has highlighted a mixed and perhaps confusing picture of UK consumer finances. The company’s…
Read more
New figures show that lenders have prevented nearly £1.6 billion in fraudulent claims against the Government-backed bounce-back loan schemes. The British Business Bank, which administers the scheme for the Treasury, said that 43,958 attempted loans had been blocked because they were suspected to be fraudulent claims since the scheme was launched in May to help…
Read more
Professional services firm, KPMG has reached an agreement to sell its Restructuring practice to Interpath Advisory, a newly-formed company, which is backed by alternative investment firm H.I.G. Europe. KPMG says that the decision to sell the business was driven by the significant changes in the Insolvency and Restructuring market in the UK over recent years. …
Read moreThe Financial Conduct Authority (FCA) has confirmed that repossessions may be allowed from 1st April but only as a last resort. The regulator implemented a moratorium amid the coronavirus crisis, protecting people from repossession proceedings, with this extended to April in January. The FCA has said that as of next month, firms are able to…
Read more