27th October 2022 - Credit Connect

Scottish business insolvencies rise with more predicted to follow

27th October 2022 Business | #scottish business insolvencies

The number of Scottish companies entering insolvency increased during the third quarter of 2022 according to new analysis of the Accountant in Bankruptcy (AiB) data by Gilson Gray. The Scottish figures reflect the UK market generally, with 265 UK companies going into administration between July and September, up from 176 during the same period in…

Scottish personal insolvencies increase by 7%

27th October 2022 Consumer Collections |

New data from Account in Bankrupcy (AiB) has revealed a quarterly and yearly rise in Scottish personal insolvencies. Overall, personal insolvency numbers (bankruptcies and protected trust deeds) in Scotland for Quarter 2 2022-2023 increased by 7.7% compared with Quarter 2 2021-2022. The number of personal insolvencies (bankruptcies and protected trust deeds) increased by 1.3% compared…

Cash flow becomes top priority for small businesses

27th October 2022 Commercial Collections and Recoveries | #cash flow

With inflation hovering at a 40-year high, managing day to day cash flow has become the primary reason for small business applications for finance, according to iwoca’s latest SME Expert Index. A survey of brokers has revealed that managing cash flow is the most common loan purpose for over two in five small businesses (42%)…

Warning over fraud rise relating to cost of living

27th October 2022 Consumer Lending | #fraud

UK Finance is warning people to be alert to potential fraud, as more than half of the public (56 per cent) said they are likely to look for opportunities to make extra money in the coming months due to the rise in the cost of living. This could leave some people more susceptible to fraud.…

Sigma Connected appoints Director of Financial Services

27th October 2022 Appointments |

Business process outsourcing provider Sigma Connected has announced that it has appointed finance specialist Colin McMahon as Director of Financial Services. With over three decades of experience in the finance and banking sector, McMahon will manage and strengthen relations with Sigma’s existing clients in the financial services sector and work with the company’s growing number…

Equity release loans hits record £1.7bn

27th October 2022 Alternative Consumer Lending | #equity release

Homeowners took out 13,452 new equity release plans in the third quarter with total lending hitting a record £1.7 billion, according to the Equity Release Council’s latest statistics. A record number of homeowners aged over 55 have turned to equity release to support their cash-strapped families through the cost of living crisis. According to the…

Cardeo receives FCA authorisation

27th October 2022 Company News |

Cardeo, the AI-powered credit card management app, has received full regulatory approval from the Financial Conduct Authority (FCA) ahead of the app’s full launch. The FCA’ss expanded range of authorisations will enable Cardeo to advise customers on the cheapest way to repay their credit card borrowing based on their open banking data, as well as…

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