Credit, Collections & Insolvency News
Latest figures from the Insolvency Service have indicated a 44% rise in business insolvency rates across England & Wales. Business insolvencies in England increased by 44.8% to 992 in March 2021 compared to February’s figure of 685 and were 19.7% lower than March 2020’s figure of 1,236. The number of business insolvencies in March 2021…
Read moreLatest figures from the Insolvency Service have indicated a 60% rise in personal insolvency rates across England & Wales. Personal insolvencies increased by 60.2% to 10,941 in March 2021 compared to February’s figure of 6,828, and were 40% higher than March 2020’s figure of 7,815 There were 1,591 Debt Relief Orders (DROs) and 1,028 bankruptcies in…
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Scottish personal insolvencies figures continued to decline in March 2021 according to latest figures released by Accountant in Bankruptcy (AIB), Scotland’s Insolvency Service which administers company liquidations and receiverships in Scotland. The number of personal insolvencies (bankruptcies and protected trust deeds) in Scotland fell by 19% in January-March 2021 compared with October-December 2020, and fell…
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Ten UK fintechs have been brought together in a new initiative by PwC which the company says will aim to showcase and shape the future of banking with collaboration, innovation, and personalisation at its heart. Three years in the making, the ten businesses have contributed to the firm’s ‘Tysl’ ecosystem which incorporates a number of…
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Latest figures released by the Accountant in Bankruptcy (AIB) have indicated that Scottish business insolvencies continued to remain low in March 2021. The number of corporate insolvencies (liquidations and receiverships) in Scotland fell by 31% in January-March 2021 compared with October-December 2020, and fell by 63% compared with January-March 2020. In March 2021 there were…
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Latest statistics from the Insolvency Service have shown that Northern Irish personal and business insolvencies continue to remain low in comparison to previous years. In March 2021 there were 184 personal insolvencies in Northern Ireland, this was 82% higher than March 2020 but 19% lower than March 2019; this consisted of 140 IVAs, 36 DROs and 8…
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New research commissioned by commercial data and analytics provider Dun & Bradstreet has found 45% of 250 UK-based CFOs and finance leaders surveyed are embracing new technologies to increase efficiencies and 43% plan on improving their data quality as they look to increase their ability to manage disruption in 2021. The survey focused on strategies…
Read moreChallenger bank, Redwood has announced the appointment of Mark Dobson joins for the Banks southern region as Head of Business Development. Donson has a wealth of banking experience, having worked in the industry for 21 years. He started out working for Lehman Brothers, where he was a Senior Analyst. Before moving to Redwood Bank, Mark…
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Law firm, Morton Fraser has announced it has appointed Yvonne Brady, as Head of Strategy for Restructuring and Insolvency. Brady’s career spans 30 years in the restructuring and insolvency market in Scotland. She joins from Shepherd and Wedderburn, where she was a Partner in corporate recovery, and Head of diversity, development and inclusion. Chris Harte, CEO…
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Financial inequality means women face higher costs for borrowing money across their lifetimes according to Credit Karma, which indicates that women have lower credit scores on average than men and are more likely to fall into the subprime category for lenders. This research found that this gender inequality can make accessing financial products such as…
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Business and advisory practice, ReSolve has announced that it has partnered with European investment institution, RoundShield to significantly increase the company’s ability to assist businesses seeking support and investment. ReSolve says that the agreement will seek opportunities across all sectors which include: Mid-cap investments up to approximately £20 million Unique, stressed or orphan situations Businesses…
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