Credit, Collections & Insolvency News
Ofgem has appointed five energy suppliers to take on the more than 70,600 customers of six recently failed energy retailers. The news follows the announcement by Yu Group earlier in the week that it had taken over the supply of the 600 domestic and 2,000 non-domestic customers of Ampower. The suppliers will take on a…
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The Finance & Leasing Association (FLA) has announced the appointment of Rebecca McNeil as the new Chair of the Association, with effect from 30 November. She succeeds Richard Jones, who has held this post since 2017. McNeil is currently Chief Executive Officer at Close Brothers Retail and was previously CEO at Close Brothers Motor Finance.…
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Business advisory firm Quantuma has appointed Robert Beat as managing director to its growing London team. Beat joins the firm with over 30 years’ experience in the insolvency industry, having previously worked at Baker Tilly Creditor Services, part of the RSM UK Group, for the past two decades. He also led and set up insolvency…
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Trade credit insurer Atradius has announced that it has promoted Chris Williamson to Senior Account Manager within its Cardiff-based strategic accounts team. Williamson returns to Wales for the new role after nearly three years at Atradius’ Northern Hub as business development manager, where he was responsible for developing broker relationships and underwriting new business policies.…
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A jump in creditors using court action to recover debts has sparked fears of a surge in insolvencies, with the 21,764 county court judgments lodged against companies in the three months to the end of September marking a 51% increase on the previous quarter. The latest red flag research for Q3 2021 from Begbies Traynor,…
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The Government has announced new laws and a Code of Practice to resolve the remaining commercial rent debts accrued because of the pandemic, Under the new code, commercial tenants will be protected from eviction until 25th March 2022, this follows government action last year to provide firms with breathing space and help protect jobs when…
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The impact of welcome changes to Universal Credit (UC) announced in the Budget will leave 1.3 million families better off than before the withdrawal of the £20 a week boost to UC last month and make 330,000 more families eligible for support, but 3.6 million families will remain worse off, according to new research the…
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TotallyMoney, the free credit score service and personal finance app, has announced that it is to receive additional funds of £9 million raised through existing investors in the UK and the US. The latest investment comes at a time of huge growth in the consumer credit sector. TotallyMoney’s unique focus is on the ‘under-served’ –…
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United Trust Bank (UTB) has announced that it has appointed Astrid Michael as its new Head of Sales for its Asset Finance division following the retirement of Keith Sangwin earlier this year. Michael has worked in the Asset Finance industry for 20 years and is a highly experienced professional with a strong track record of…
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Open Banking falling short of its promise according to ConnectPay. In January 2018, the Payment Services Directive 2 (PSD2) was introduced, paving the way for Open Banking, with the new initiative, enabling third-party access to banking data. This created enormous space for innovation for fintech companies, promising ample opportunities to develop and deliver new, powerful…
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