17th October 2022 - Credit Connect

Business insolvencies increase by 16%

17th October 2022 Business | #business insolvencies

Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales increased by 16% in September when compared to the same month in the previous year (1,453 in September 2021), and 11% higher than the number registered three years previously (pre-pandemic; 1,508 in September 2019). In September 2022…

Scottish business insolvencies increase by 47%

17th October 2022 Business | #business insolvencies

Latest figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland increased in September. The figures showed that there were 103 company insolvencies registered in Scotland, 47% higher than the number in September 2021 and 36% higher than in September 2019. This was comprised of 25 compulsory liquidations,…

Personal insolvencies rise by 4.5%

17th October 2022 Consumer Collections | #personal insolvencies

Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies increased by 4.5% to 10,013 in September 2022 compared to 9,584 in August, and were 0.5% higher than September 2021’s figure of 9,967. Personal insolvencies also decreased 18.5% from September 2019’s total of 12,280. There were 535 bankruptcies registered,…

Five million households set for average mortgage bill increases of £5,100 by end of 2024

17th October 2022 Consumer Lending | #mortgages

Over five million families are set to see their annual mortgage payments rise by an average of £5,100 between now and the end of 2024 – with £1,200 of that reflecting higher expectations of interest rate rises since the ‘mini-budget’ according to new analysis published by the Resolution Foundation. With the UK’s low-interest rate era…

People have borrowed 20% more from pawnbrokers in the past year

17th October 2022 Arrears and Recoveries | #pawnbroking debt

People borrowed 20% more from pawnbrokers in the past year as part of the cost of living impact, according to research by Mazars. The research showed that 341,000 people now owe money to pawnbrokers, up from 317,000 from last year. The value of loans taken out from pawnbrokers has jumped 20% in the past year,…

Northern Irish business and personal insolvencies increase in September

17th October 2022 Consumer Collections |

Latest monthly statistics from the Insolvency Service have indicated that Northern Irish personal insolvencies and business insolvencies increased in September. The figures showed that there were 22 company insolvencies registered in Northern Ireland, this is double the number in September 2021, but 39% lower than September 2019. This was comprised of two compulsory liquidations, 18…

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