Credit, Collections & Insolvency News
Energy regulator Ofgem, has proposed that the energy price cap on bills should be reviewed every three months instead of twice a year to help households. Ofgem says that at a time when consumers are being squeezed financially from all sides, it is looking at how it can use its powers to make the market…
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A rogue volume IVA provider has been wound-up by the Insolvency Service. Vanguard Insolvency Practitioners (along with three connected companies: MDN Consultancy Limited, Newtco Limited and KIS Financial Consultancy Limited) were wound-up in the public interest at the High Court in Manchester before His Honour Judge Hodge. Petitions were submitted to the court by the…
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New findings from quarterly Small Business Index (SBI) has warned that banks ‘are pulling up the drawbridge’ to small firms will further stifle economic growth as its new SBI study shows successful finance applications plunging over the first quarter of this year. Fewer than one in ten (9%) small firms applied for finance in Q1…
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Over a third (37%) of small business owners predict growth for the next three months, the highest figure since the pandemic started more than two-years ago. The new quarterly data from Novuna Business Finance also reveals that the percentage of small businesses predicting contraction has also hit a two-year low (falling to just 7%). Despite…
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The value of UK business loans written off by banks nearly doubled in the last quarter of 2021, rising 87% from £190 million in the third quarter to £356 million in the fourth quarter according to research by debt advisory specialists ACP Altenburg Advisory. Altenburg explains that write-offs of loans have been subdued throughout the…
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