Credit, Collections & Insolvency News
Allianz Trade has predicted that business insolvencies will rise by 37% this year with the UK is set to become the first big European economy to reach pre-pandemic levels of corporate insolvencies. The research suggests the surge in insolvencies will be driven by the withdrawal of Covid support schemes, rising commodity prices, supply chain disruption,…
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Latest figures from the Registry Trust have shown that there was a decline in consumer County Court Judgments (CCJs) in England & Wales in the first quarter of 2022. The report shows that CCJs fell by 17% from 234,891 in Q1 2021 to 194,744 in Q1 2022. The total value of consumer CCJs also fell…
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Consumer confidence has dipped to a record low, with GFK’s confidence index dropping two points to -40 in May, with this a point lower than the previous record of -39 set in July 2008. The statistics indicate that consumer confidence is at its lowest point since records began in 1974. Joe Staton, Client Strategy Director,…
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Households spent 7% more on their energy bills in April compared to March, as the increase in the energy price cap first hit household budgets. According to the latest Spending Power Report, which includes regular standing order and direct debit payments alongside card payments in its analysis, energy spending increased by almost a third (28%)…
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Millions of people in communities across the UK will see their ability to access cash protected by new powers set out by the Government. Under the new rules, the financial regulator – the Financial Conduct Authority (FCA) – will be granted new powers over the UK’s largest banks and building societies, to ensure that cash…
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Latest data from the Ministry of Justice (MoJ) have indicated that mortgage possession actions in Quarter 1 (Q1) have dropped significantly compared to Q1 2019. Compared to 2019, pre-Covid-19, mortgage possession claims, orders, warrants and repossessions by county court bailiffs have decreased by 53%, 47%, 55% and 57% respectively. However, compared to the same quarter in…
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The Institute of Directors has found that seven in ten (72%) of business leaders view cyber risk as a significant concern for their organisation, with 58% believing that the risk of a cyber attack on their organisation has increased. In its poll of nearly 600 directors, the IoD also found that 54% believe that every…
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The Financial Conduct Authority (FCA) is set to introduce new powers to more swiftly cancel or change what regulated activities firms are permitted to do. The new power is available following a change in the law allowing the FCA to streamline and shorten the removals process. The FCA will provide a firm with two warnings if it believes it is not using…
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The Money Advice Trust has announced that a number of its training programmes across both its vulnerability training and consultancy and Wiseradviser services, have achieved the City & Guilds Assured Quality Mark. On the charity’s vulnerability training and consultancy side, the courses that have achieved the Quality Assured Mark are, its ‘Supporting customers in vulnerable…
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Anti-money laundering (AML) firm SmartSearch has appointed Collette Allen as Chief Operating Officer (COO) Allen joined the company in 2013 as a Senior Support Specialist and, within two years, earned a position as Head of Client Services. Five years later, she was appointed to the SmartSearch board as Client Services Director. At 30, Allen was…
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