Credit, Collections & Insolvency News
More than three million households are entering winter in debt to their energy supplier, half a million more than last year according to new research from Uswitch.com. Households are going into the coldest time of year owing £510 million, a rise of £77 million since 2020, with many feeling additional pressures caused by the rising…
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New research by NerdwWallet has found that over a quarter of consumers have borrowed due to gambling The research found that 46% who gamble daily have taken a loan or credit because of gambling, the highest of any category. Whilst 28% who gamble at least once a month have taken a loan or credit because…
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Business energy supplier. CNG Energy has announced they are ceasing to trade after almost three decades supplying power to non-domestic customers. The company, which served around 41,000 businesses, is the sixth supplier to exit the market so far this week and the 22nd to enter the supplier of last resort process this year. Under Ofgem’s…
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We have faced the most unprecedented health crisis of our times over the past 2 years. Within the collections industry, this has created huge challenges, such as mass working from home, reversal of outbound to inbound calling, and finding ways to meet the emotional impact of the pandemic – both for our customers and our…
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Consumers using credit to buy their insurance cover are increasing the amount they borrow in response to rising premiums and a growing squeeze on household finances, new research from Premium Credit has shown. The study found that over the past year, nearly seven out of 10 (69%) people used some form of credit to pay…
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The Payment Systems Regulator (PSR) has published its final report into its card-acquiring market review. The document sets out the regulator’s conclusion that the supply of card-acquiring services does not work well for small and medium-sized merchants and large merchants with annual card turnover up to £50 million. Merchants with annual card turnover between £15,000…
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While consumer spending has continued to bounce back post-pandemic, research by Nationwide shows that growth has started to slow. Between July and September growth in consumer spending hit 3%, marking a slowdown following the 14% increase recorded in Q2. The study, which looked at more than 620 million transactions by Nationwide consumers, also revealed that…
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First Locate has announced the appointment of Neil Burrows as its new Head of Sales. Burrows will look to broaden the company’s existing portfolio of premium clients by expanding our reach into other key sectors across the Banking, Financial Services and Utility offerings with a focus on key services and White Label solutions. Darren Guest…
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