Credit, Collections & Insolvency News
Over one-third (34%) of people aged 45-54 have no plan for their remaining working years according to research by carried out by Opinium on behalf of Hargreaves Lansdown. The research compares to roughly a quarter of 35-to-44-year-olds and 25-34-year-olds who had no plan for the time between age 50 and retirement. 41% of those in…
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The Lending Standards Board (LSB) has announced that commercial debt solutions provider, Azzurro Associates (Azzurro), has become a registered firm with the LSB‘s Standards of Lending Practice for business customers. Azzurro provides liquidity options to the commercial credit sector and is the custodian of a large inventory of business debts. Achieving full registration signals their…
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New figures from Financial Wellness Group have indicated that the number of customers seeking debt advice who have outstanding Buy Now Pay Later (BNPL) loans amongst their debts has increased fourfold since the start of the pandemic. In the past 8 months (March to November 2021), the number of customers with BNPL debts on a…
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Ecospend, a provider of Open Banking APIs, has announced the appointment of Sarah Lambert as Head of Solutions. Lambert will be working with the team to help Ecospend identify and deliver data-based solutions, powered by open banking technology, that meet the needs of more vulnerable customers. As a Sales and Affordability product specialist, Lambert will…
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More than three in four (76%) families with children at home are worried that the impact of using the heating more will lead to higher energy costs this winter, according to research by Comparethemarket.com. More than a third (35%) of families say a large increase in energy costs over winter will lead them to cut…
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New data from Visma | Onguard’s Fintech Barometer has found that 65% of organisations have either adopted blockchain technology or worked out the first ideas for future adoption in 2021, up from 51% in 2018. Of this 65%, almost a third are already utilising the technology – a significant 12% increase on last year’s levels.…
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A cashflow crisis brought on by the pandemic lockdowns has resulted in a 31% increase in restaurant insolvencies over the three-month period to September, compared to the previous quarter. The number of UK restaurant insolvencies has jumped 31% to 296 in the last quarter, up from 226 in the previous quarter*, our research shows. The…
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New research by Money and Mental Health Policy Institute, has found that 2.5million people with mental health problems who fell into debt during pandemic considered suicide The Institute is now calling on urgent action from the government, the NHS and essential services providers is required to stop the devastating cycle of debt and mental health…
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