Credit, Collections & Insolvency News
New data for April from StepChange Debt Charity shows that the cost of living is now the second most commonly cited reason for debt, up from the third most common in March and the sixth most common in 2021. The proportion of clients citing the cost of living as a driver of their problem debt is now 15%,…
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Nine out of ten (93%) 11-18-year-olds in the UK are aware of the cost of living crisis and six out of ten (61%) worry about their parents or guardians not having enough money to do the things they want or have the things they need, according to new research from Yorkshire Building Society. More than…
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The Government has announced that it will revamp the UK’s corporate reporting and audit regime through a new regulator, with the aim of providing greater accountability for big business and addressing the dominance of the main audit firms. The Business Secretary announced the plans to provide a new effective corporate reporting and audits to ensure…
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The May 2022 Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, slid to its lowest level since October 2020 of -45, down from -36 in April. Of those that said they were pessimistic about the prospects for the UK economy, the overwhelmingly most frequent reason given for this…
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Businesses are paying their suppliers even later, despite admitting that they have a responsibility to smaller firms, according to early findings from Intrum’s 2022 European Payment Report. The annual report by credit management services company Intrum surveyed more than 11,000 businesses in 29 countries. It found the business landscape under pressure from new uncertainty, while…
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