Credit, Collections & Insolvency News
New research from Yolt, has revealed that over one in six (16%) UK adults never review some of their key household expenses. The research indicates that the 8.6 million in the UK who are ‘bill blind’ could be missing out on the most competitive deals available. This follows Ofgem’s recent announcement that the energy price cap…
Read more
Nearly three-quarters (73 per cent) of consumers are currently paying for a multitude of subscriptions and memberships, with over half (54 per cent) having bought into at least one new service since the pandemic started. This averages out as an extra £17.65 per person each month, or a collective spend of £7.9 billion across the…
Read more
After three months of the Government’s ‘Breathing Space’ debt respite scheme regulations coming into effect, what are the lessons policy-makers can take away at this early stage? When the regulations were first approved and as the covid pandemic cast a shadow of concern across the economy and consumer wellbeing, it was widely recognised that forbearance…
Read moreTwo companies who fraudulently applied for thousands of pounds worth of Covid support loans have been wound up in the courts. The two separate companies submitted false documents to at least 41 local authorities and the Government’s Bounce Back Loan scheme to secure £230,000 worth of grants put in place to support businesses during the…
Read more
Payment services provider Paypoint has offered to pay £12.5 million into Ofgem’s voluntary redress fund following an investigation into whether it breached competition rules. The investigation was opened in 2017 and looked into whether the company had abused a dominant position in a way that was likely to restrict or distort competition in the market…
Read more
One focus for the LSB is to deliver ERFs for the Bus Standards and consider how the views of RFs can inform future IFPs. Now that sentence makes sense to me. However, to 99.9% of people, it is incoherent gobbledygook. This is because each organisation and business sector seems to have its own sub language…
Read more
Data from Barclaycard showed that consumer card spending grew 11.6 per cent in July compared to the same period in 2019, as the heatwave and easing of restrictions saw consumers make the most of their newfound freedoms. The data revealed that spending on essential items grew 14 per cent last month, compared to July 2019. This…
Read more
The stamp duty holiday helped drive higher engagement with credit scores, according to Experian. Mortgage applications were 31% higher during the stamp duty holiday than the equivalent period between 2019 and 2020 and those consumers who took out a new mortgage were more likely to check their credit score. Credit score engagement peaked in July…
Read more
Wesleyan Bank has announced that it has expanded its credit team with two experienced hires. Wesleyan Bank’s credit team has been bolstered following the recent appointments of Senior Underwriter Rob Irving and Credit Underwriter Essie Quinnell have joined the company to who bring a combined industry experience of 20 years. Irving has spent the last…
Read more