Credit, Collections & Insolvency News
Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies increased by 4.9% to 10,514 in October 2022 compared to 10,023 in September, The figures were 8.6% higher than October 2021’s figure of 9,682 and were also 4.6% higher than October 2019’s total of 10,056. There were 531 bankruptcies were…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales were 38% higher than in the same month in the previous year (1,410 in October 2021), and 32% higher than the number registered three years previously (pre-pandemic; 1,477 in October 2019). The number of registered company insolvencies…
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Latest figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland increased in October. The figures show that there were 82 business insolvencies registered in Scotland, 22% higher than the number in October 2021 and 1% higher than in October 2019. The business insolvencies comprised of 19 compulsory…
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Freedom Finance has announced that it has appointed Paul Bevis as Head of Growth. Beavis joins from Royal London where he spent five years, latterly as Head of D2C Partnerships. Beavis will lead the growth of Freedom Finance’s embedded finance platform which is already integrated across brands like Argos, ASDA Money, Co-op Bank, Creation and The…
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Latest monthly statistics from the Insolvency Service have indicated that Northern Irish personal insolvencies and business insolvencies increased in October. In October 2022 there were 161 personal insolvencies in Northern Ireland, 58% higher than in October 2021, but 31% lower than October 2019. The insolvencies consisted of 145 IVAs, 11 DROs and five bankruptcies. Business insolvency figures…
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International fintech solutions provider Qualco has announced partnered with customer engagement specialist, Webio to add conversational Artifical Intelligence (AI) to their existing collections and recoveries software offering. The solution offers a seamless omnichannel customer journey by preserving customer activity information across touchpoints in a single customer view. By empowering customers to self-serve in a few…
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The National Audit Office (NAO) has warned of a lack of progress in tackling criminal fraud. NAO analysis shows that fewer than one in two hundred cases of fraud reported to the police resulted in a criminal charge last year. The report shows that although the number of cases of reported fraud had risen from…
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Intrum’s annual European Consumer Payment Report has shown that inflation is a major concern for consumers. Consumer confidence has plummeted, and more than a third are struggling to make ends meet. Surging inflation has created a wave of financial anxiety as households struggle to meet their commitments. Two out of every five believe they will…
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