Credit, Collections & Insolvency News
The Directors of a London construction company and a Greater Manchester sports coaching firm have each been banned from running a business for 11 years after abusing Bounce Back Loans. Lavinia-Larisa Mociar, claimed £50,000 to support the Harrow-based construction business of which she was a director. However, the business had ceased trading when the application…
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Over a quarter of consumers want a more affordable approach to debt repayment from banks and credit lenders according to new research from Sopra Steria. The research found that over one in four (27%) UK respondents said they’d like creditors and banks to take a more flexible approach to debt management, allowing repayments to vary…
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Delta Gas and Power has been banned from acquiring new customers after failing financial stress tests by Ofgem. The regulator has also revealed it is preparing to issue a statutory consultation later this month on proposed licence modifications designed to further strengthen supplier financial resilience. Delta is a non-domestic energy supplier, serving 1,690 business customers…
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New research by Lowell has found that 69% of people in debt don’t talk about it with a majority saying it’s because they are embarrassed. The company’s latest Financial Vulnerability Index has shown that borrowing has risen dramatically since the beginning of the year with over one in five consumers have mental health difficulties caused…
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A report by the Public Accounts Committee has called on the Department for Business, Energy and Industrial Strategy (BEIS) and Ofgem to say how they will make the energy retail market work in the best interests of customers during the transition to net zero” after finding that failures at the energy regulator have come at…
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