Credit, Collections & Insolvency News
Business advisory firm, Quantuma, has appointed Lee Brocklehurst as Director at its Nottingham office. Joining from RSM, Brocklehurst has over 25 years’ experience in restructuring and insolvency, working across a diverse range of accountancy practices and insolvency boutiques. As well as advising SMEs and large corporates, Lee has extensive experience advising individuals facing personal financial…
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The Financial Stability Board (FSB) has published a Thematic Review on Out-of-Court Corporate Debt Workouts. The objective of the peer review is to support Covid-19 response and recovery efforts by examining FSB member jurisdictions’ practices, experiences and lessons from out-of-court workouts as a less costly and more flexible alternative to full, formal insolvency proceedings. The…
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More than one in seven UK households have cut back on food or skipped meals in the past month according to new research by The Food Foundation. The data has shown a 57% jump in the proportion of households cutting back on food or missing meals altogether in just three months. In April, 7.3 million…
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Charities have warned the Secretary of State for the Department of Work and Pensions (DWP), Thérèse Coffey, that plans to restart ‘managed migration’ must immediately be halted. In an open letter, the coalition of charities have urged the DWP to stop the process due to the risk of cutting off people’s incomes. ‘Managed migration’ is…
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New research by Premium Credit has revealed that one in six (59%) of SMEs are relying on credit to pay for their insurance, borrowing on average around £1,105. Nearly one in ten (9%) SMEs who use credit to pay for their insurance, claim to have borrowed over £3,000 to fund their cover. Premium Credit’s Insurance…
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Risk specialist, Kroll has revealed the results of its latest Global Fraud and Risk Report, showing that organisations around the world are dealing with the rising costs associated with investigating allegations of serious misconduct. The report, based on a survey of over 1,330 senior decision-makers for risk strategy, including CEOs, general counsels, chief compliance officers…
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Fintech order-to-cash process specialist, Visma | Onguard has announced that it has appointed Adriaan Kom as Managing Director. Kom has been working at Visma | Onguard for one and a half years as Chief Commercial Officer. In his new role, Kom will focus on the further growth of the company as part of Visma. Part…
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Data covering quoted household interest rates on consumer credit products released by the Bank of England has revealed the rising cost of borrowing for UK households according to analysis by Freedom Finance. With the Bank hiking interest rates by 0.25% last Thursday and inflation expected to show a climb yet again for April, the data…
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Jaja Finance has announced it has signed a deal with Asda, in conjunction with global payments technology leader Visa, to provide digital, reward-led credit cards to Asda’s 18 million customers. The new credit card, to be launched later this summer, will allow customers the opportunity to earn rewards on their credit card spend which they…
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A record number of scams were removed from the internet in 2021 thanks to the Active Cyber Defence programme. The National Cyber Security Centre (NSCS) has revealed that more than 2.7 million scam campaigns were stamped out in 2021, nearly four times more than in 2020. The rise reflects the expansion of NCSC services to…
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