Credit, Collections & Insolvency News
Following news of an 18 month high in registered company insolvencies, Purbeck Personal Guarantee Insurance, is urging the owners of small and medium-sized businesses to ensure their personal assets such as their home, bank account and savings, are protected if their business should become insolvent. Purbeck estimates that over 420,000 small business owners in the…
Read more
A new report is urging the Government to take the lead in supporting consumers to recover financially from the pandemic. Innovation Foundation Nesta has commissioned Guaranteeing a Rapid Recovery – a report from the Social Market Foundation (SMF) which sets a series of recommendations for government and innovators to support consumers as they recover from the pandemic. The research…
Read more
New research by European open banking platform Tink has revealed that in spite of growing positivity, the complete implementation of open banking will take financial institutions many years to realise. The survey of 308 executives across 12 countries found that four in ten (40%) believe it will take their institution between 5-10 years to realise…
Read more
Derby County Football Club (FC) have formally entered into administration after owner Mel Morris failed to find a buyer willing to spend £50 million to clear the club’s debts. Derby will be automatically deducted 12 points under EFL rules, sending them to the bottom of the table but a further points deduction is on the…
Read more
Energy companies, Avro Energy and Green Supplier energy companies have announced they are ceasing to trade. The collapse of two energy companies means nine energy suppliers have been exited the sector this year with more expected to collapse soon. The closures mean that the UK gas crisis has claimed another two energy companies, bringing the…
Read more
More than £4 million on average was stolen by fraudsters every day in the UK during the first half of the year as losses skyrocketed during the pandemic according to new UK Finance figures. The figures show that fraud committed when individuals are tricked into handing over money and personal details surged by 71% compared…
Read more
Credit Connect’s hosted its third Online Collections Technology Think Tank 2.1 last week which saw the discussions focused upon collections strategy as we prepare to start to feel the impact of the pandemic and Brexit. Fourteen collections professionals from a variety of industry sectors joined the discussion on business transformation, customer engagement, affordability, vulnerability and…
Read more