Credit, Collections & Insolvency News
More than 11 million people across the UK have looked for money help in the past three months alone, new research from the Money and Pensions Service (MaPS) suggests. The survey of 3,000 adults, carried out for Talk Money Week has shown that the rising cost of living has led to one in five (21%)…
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A bankrupt from West Bromwich has received 11 years of additional restrictions to protect creditors after he abused £70,000 worth of loans. Mohammed Abdul Subhan started a self-employment catering business called Thania Spice in 2016 before incorporating Zara Spice Limited, which traded as a restaurant from Bilston Street in Dudley. In 2020 Subhan focussed his…
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Professional services firm KPMG UK has made two senior appointments within its Deal Advisory practice. The firm has appointed Sharon Taylor and Lloyd Williams as Managing Directors within its Special Situations and Turnaround Group. Their primary focus will be on helping to preserve and restore value to organisations that may be facing a period of…
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Anglian Water has announced a £135 million support package for customers struggling to pay their bills, which will include discounts on tariffs of up to 50%, as well temporary payment plans, forgiveness schemes and payment breaks. The company said the financial assistance is expected to help around 330,000 customers over the next year. Anglian Water…
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Virgin Money has announced that it has appointed Craig Calder as its new Head of Secured Lending. Calder will be responsible for growing its mortgage business, offered direct and through intermediaries across residential and buy-to-let markets. He takes up his new post in January. Calder joins from Barclays, where he worked for nine-and-a-half years, leaving…
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Analysis of the latest Bank of England figures from Freedom Finance, has found that the average quoted household rates on personal loans are accelerating sharply. Rates on both £5,000 and £10,000 personal loans registered the second largest monthly increase ever recorded and grew to their highest levels in recent years. The average quoted household rate on…
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More than 1,000 customers will receive payments after the Competition and Markets Authority (CMA) found Barclays failed to send PPI information. The CMA has written publicly to Barclays after the bank failed to send a reminder to customers of payment protection insurance (PPI) policies. Under the CMAA’s PPI order, PPI providers must send annual reminders…
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