24th January 2022 - Credit Connect

Older people worried about heating their homes jumps to nearly 8 million

24th January 2022 News | #energy debt

Charity, Age UK is calling for urgent action as research by the company shows over 80 per cent of over-65s think the Government should step in to help poorer older people. More than three in five over-65s (62 per cent) – equivalent to 7.8 million older people – are worried about heating their homes compared…

Record number listed companies cite supply chain and rising costs in 2021 profit warnings

24th January 2022 Commercial Credit Management | #proft warning

Profit warnings issued by listed companies increased by 19% year-on-year in Q4 2021, with record levels of warnings citing supply chain disruption and rising costs in the final quarter of the year, according to EY-Parthenon’s latest Profit Warnings report. In the final quarter of 2021, UK listed companies issued 70 warnings, up 19 from the…

Universal Credit cuts impact one in ten tenants

24th January 2022 Arrears and Recoveries | #rent

Almost one in ten private landlords renting to Universal Credit claimants have experienced at least one tenant having difficulties paying their rent due to benefit cuts according to research by National Residential Landlords Association (NRLA). In October last year the Government cut Universal Credit by £20 a week following a temporary increase in response to…

Credit applications and approvals hit seven-year low

24th January 2022 Alternative Business Lending | #business credit

Credit applications and approvals hit seven-year low amid fears lenders will replicate approach to last recession, according to latest Small Business Index (SBI) by the Federation of Small Businesses (FSB). The research indicated that most small firms plan to grow over the coming 12 months but are being held back by struggles to recruit, increasing…

Bans for two directors who abused Bounce Back Loan scheme

24th January 2022 Commercial Credit Management |

The Insolvency Service has announced bans for two directors who abused the Bounce Back Loan scheme. Aamer Aslam, from Huddersfield, and Razwan Ashraf, from Keighley, were co-directors of Scholars Academy based in Brighouse, West Yorkshire. They have been disqualified for 11 and 10 years respectively. Scholars was incorporated in December 2018 and purported to be…

Aryza to acquire Collenda

24th January 2022 Company News | #Acquisitions

Aryza has announced it is accelerating its European roll-out through the acquisition of Collenda, a leading DACH and Benelux credit management software provider. Collenda provides an end-to-end integrated credit lifecycle platform for banks, corporates, and debt collection agencies. It covers the entire credit value chain from origination and servicing to collection and recovery. The Collenda…

Virgin Money appoints Group Chief Risk Officer

24th January 2022 Appointments | #appointments

Virgin Money has announced the appointment of Susan Poot as Group Chief Risk Officer. Poot joins Virgin Money from ING Bank, where she spent over 20 years in a number of commercial and risk roles, the most recent of which was Chief Risk Officer, Retail Banking. In her role she was responsible for setting the…

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