5th January 2022 - Credit Connect

Bibby Financial Services appoints Chief People & Organisation Officer

5th January 2022 Appointments | #business lender appointment

International business financier, Bibby Financial Services (BFS), has announced the appointment of Helen Norris as Chief People and Organisation Officer to drive forward its BFS 4.0 strategy, which aims to bring together people and technology to boost support for SMEs around the world. Norris joins BFS from the British Business Bank, where she spent more…

November data already indicates’ worrying’ cost of living trend

5th January 2022 Arrears and Recoveries | #cost of living

The Bank of England data for November showed a significant net increase in borrowing on credit cards, which StepChange Debt Charity warns may be an indicator of increasing underlying financial stress among some households. Credit cards remain the most common type of unsecured debt held by new StepChange clients at the time they take advice.…

More than four in five experiencing increase in living costs

5th January 2022 Arrears and Recoveries | #cost of living

More than four in five (82 per cent) people have seen their living costs such as grocery or energy bills and day-to-day essentials increase in the past few months, according to new research by TSB. The bank’s research, through its money confidence barometer, indicated that as a result of the cost of living rises, nearly…

More than half of consumers are paying interest on credit cards

5th January 2022 Banking and Loans | #credit cards

New research by TotallyMoney has shown that more than half (54%) of customers with an outstanding monthly credit card balance are paying interest, indicating that it could be costing consumers £1,831 by not transferring a credit card balance. The esearch shows customers are 31% more likely to be eligible for a credit card now than…

R3 appoints Scottish Chair

5th January 2022 Appointments | #insolvency appointments

Aberdeen-based restructuring and insolvency expert Richard Bathgate has been appointed as the Chair of insolvency and restructuring trade body R3 in Scotland. Bathgate, who is Restructuring Partner at Johnston Carmichael, Scotland’s largest independent firm of accountants and business advisers, takes over as Chair from Tim Cooper, Partner at Addleshaw Goddard. In his new role, Bathgate…

Households borrowing on credit cards increases

5th January 2022 Consumer Lending | #consumer lending

Latest figures from the Bank of England (BoE) show that credit card spending increased in November, with spending and borrowing showing signs of normalising after being distorted by pandemic-driven support measures. The report shows that £1.2 billion was borrowed in November using credit cards, overdrafts and personal loans, with £862 million spent on credit cards.…

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