Credit, Collections & Insolvency News
Analysis by KPMG shows that while most Chief Executive Officer (CEOs) are preparing for a downturn, most expect it to be short-lived and are confident about the longer-term economic outlook. The research revealed that 8 out of 10 Global and UK CEOs are anticipating a recession, and 58 percent of them (62 percent in the UK) expect…
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A company director has been given 200 hours community service on top of 20 months suspended sentence for breaches of Company Directors Disqualification Act 1986 and Insolvency Act. Daniel Ross Patchett from Kingsthorpe in Lincolnshire, pleaded guilty at Lincoln Crown Court of acting in the management of a company whilst an undischarged bankrupt. Bankrupts must…
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The monthly cost of repaying a mortgage has seen the second largest annual spike, with just energy bills increasing at a greater rate according to research by Revolution Brokers. The research analysed the annual increase in a number of household costs, from energy bills to mortgage payments, water and sewage and food and drink, to…
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New research from Lowell has found that more than a quarter (27%) of Brits don’t have the ability to save money due to their financial situation and over one in five (22%) revealed that they have mental health difficulties directly caused by money. Over the past 90 days, in the UK search terms for ‘I…
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Business outsourcing provider Sigma Connected has announced the appointment of Peter Doveren as its new Chief Strategy Officer. Dutch-born Doveren has extensive international experience having worked in many different countries whilst holding senior customer service and strategy roles across a variety of sectors and organisations, including with Vodafone, Capita and the RSPCA. Doveren’s role…
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The Money and Pensions Service (MaPS) has announced the outcome of its debt advice commissioning process for England. MaPS has said that it intends, subject to the conclusion of the mandatory ten-day standstill period, to award contracts to the following organisations to provide national and business debt advice, and administration of debt relief orders (DROs).…
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More than two-thirds (68%) of European small and medium enterprises (SMEs) are planning to adopt real-time payment processing in the next 12 months, according to new research by Vodeno. At present, just 10% of SMEs said they receive payments instantly, and only 11% within an hour. By comparison, 35% said it takes between two and three…
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New TotallyMoney research has shown that each month, consumers are using credit cards to withdraw £240m in cash, resulting in £16.9 million in interest card charges and fees. The analysis found that the average cash advance of £139 could cost an extra £10 in interest and fees. It was also found that the total value…
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Digital bank Chetwood Financial has announced a new partnership with parenting forum Mumsnet, with plans to launch a new family-focused financial services proposition next year. Since acquiring a full banking licence back in 2018, Chetwood has focused on creating disruptive financial products for underserved segments of the market. The recent acquisition of core banking provider…
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