Credit, Collections & Insolvency News
Dealing with late payment is something the vast majority of business owners will have to deal with at some point. Delinquent payers cost companies millions of pounds every year, causing frustration and unnecessary work, as well as leading to serious cash flow problems, and in some cases forcing the creditor to fall behind on its…
Read more
Here is an overview of The Money Charity’s latest statistics for March 2021 Personal debt in the UK People in the UK owed £1,700.2 billion at the end of January 2021. The average total debt per household, including mortgages, was £60,999 and per adult was £32,087, around 107.6% of average earnings. Net mortgage lending rose by…
Read more
Squeezed savings, lower income from employment and less money available to spend kept UK household finances under pressure in the opening quarter of 2021 despite greater efforts to pay down debt, according to the Scottish Widows UK Household Finance Index (HFI). The headline seasonally adjusted index which measures households’ overall perceptions of financial wellbeing – registered 42.0 in Q1, up from 41.1…
Read more
Consumers paid off £1.2 billion in credit card debt and overdrafts in the final month of full lockdown according to the latest Bank of England figures. The figures showed that net repayments on products such as credit cards, personal loans and overdrafts were at the strongest annual rate in 27 years. The repayment figures are…
Read more
A new study shows UK banks have lent around £29.3bn more to businesses over the past year. This compares with a 5.3% jump in lending in the EU on average. UK bank lending also surpassed Germany (7%) and Spain (3%). UK banks have managed to increase lending by 8% since the start of the Covid-19…
Read more