Credit, Collections & Insolvency News
Latest figures from UK Finance have indicated that cash is no longer king as contactless card use figures have soared. The figures showed that contactless payments increased by 83% for credit cards and 56.2% for debit cards. Whilst there were 2 billion debit card transactions in November 2021, 29.5% more than the same month last…
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Latest figures from Accountant in Bankruptcy (AiB) has indicated that business insolvency numbers (liquidations and receiverships) in Scotland increased in January. In January 2022 there were 51 company insolvencies registered in Scotland, 122% (2.2 times) higher than January 2021 and 30% lower than in January 2020. The insolvencies comprised of 14 compulsory liquidations, 34 CVLs…
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Credit management and debt recovery company Credit Style says demand for legal services has increased sharply over the past 12 months and is showing no sign of slowing down. The company says that the average number of legal actions they have commenced on behalf of clients has grown significantly from just over 13,000 cases to…
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Hodge Bank has announced that it has appointed Rob Regan as its new Chief Operating Officer. Regan brings a wealth of experience to the role having previously held roles as Chief Operating Officer at Legal & General (L&G) and Group Operations Director at Royal London Group. In his most recent role, Regan was Chief Executive…
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Latest figures from the Insolvency Service have indicated that personal insolvencies in England & Wales increased by 0.3% to 8,477 in January 2022 compared to 8,451 in December 2021, and were 1.8% higher than January 2021’s figure of 8,331. There were 1,873 DROs and 575 bankruptcies. The number of DROs in January 2022 was 59%…
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Latest statistics from the Insolvency Service have indicated that Northern Irish business and personal insolvency figures increased the latest quarterly figures. In January 2022, there were 18 business insolvencies registered in Northern Ireland, six times as many as in January 2021, but 31% lower than January 2020. The insolvencies comprised of two compulsory liquidations, 12…
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Latest figures from the Insolvency Service have indicated that the number of business insolvencies in England and Wales doubled year-on-year last month, with 1,560 company insolvencies in January. The business insolvency numbers were up from 758 in January 2021 and exceeded the pre-pandemic total of 1,508 recorded in January 2020. Business insolvencies increased by 4.8%…
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