Credit, Collections & Insolvency News
Following the accumulation of record levels of overdue debt as the result of the Covid-19 pandemic, Her Majesty’s Revenue and Customs (HMRC) has successfully reduced the overdue debt balance to £39.4 billion (bn) as at December 2021, a reduction of £18.1bn from the March 2021 year-end results that Kroll reported in November. However, the underlying…
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It is increasingly clear that the cost of living crisis will have a seismic effect not only on individual households but many businesses. With inflation at a thirty-year high and skyrocketing energy prices, SMEs face a new threat to their futures. The fact that this is occurring so shortly after coronavirus makes matters worse. Those…
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Changing work habits brought about by the Covid-19 pandemic and rising house prices have seen households turn their back on cities for nearby countryside locations new research by Experian has found. The analysis reveals a fundamental change in where families and homeowners are looking to base their lives. The average house price in the UK…
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Rising costs are the biggest challenge facing almost half of UK businesses in the next six months, a survey by BDO has found. The research found that almost a third are seeking additional finance as a direct result of pressure brought about by inflation, with 24% taking on higher debt to ensure survival. The report…
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Qualco has announced that it has gone live with a new open banking technology partnership. Working with Ecospend and Themis Global, Qualco UK introduced account-to-account payment options, under a white label model, for a new client, Simon Jersey. The approach includes letters, emails and SMS being sent to customers, containing a unique QR code, which…
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Arum has announced the appointment of Steve Coppard, as its Group Director of Debt Policy and Strategy. Coppard will join the company on 3rd May. In this newly created role, Coppard will help the executive team of Arum and its sister company Just to respond to the evolving needs of the government sector and, importantly,…
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Shawbrook Bank has announced that it has joined ClearScore’s panel of personal loan providers which will use Open Banking technology to assess the creditworthiness of potential customers. Shawbrook intends to start integrating Open Banking data with their current decisioning technology. This will enable them to collect real-time income and expenditure information at the point of…
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According to new research by TransUnion, 42% of consumers say they have been targeted by online fraud in the past three months. Among those targeted, the five most common scams faced were phishing (46%), third-party seller scams on legitimate online retail websites (25%), stolen credit card or fraudulent charges (23%), account takeover (20%) and identity…
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