12th December 2022 - Credit Connect

Card use soars to 90% of retail spending

12th December 2022 Commercial Credit Management | #card spend

The British Retail Consortium (BRC) published its latest annual Payments Survey. The report reveals that in 2021, as stores closed for lockdowns and the public was advised to use contactless payments, cash usage fell to just 15% of all transactions (down from 30% in 2020), while 82% were made on credit or debit cards (up…

Eight out of ten people are cutting spending on gifts this Christmas

12th December 2022 Consumer Collections |

Eight in ten people (81%) are cutting the amount they spend on gifts this Christmas according to new research from Hodge, which found more than half (53%) won’t be able to spend as much on Christmas this year. A third said they had been saving more than usual for Christmas and a similar amount (37%)…

Arrow Global appoints Managing Director, Client and Product Solutions

12th December 2022 Appointments |

Arrow Global Group has announced the appointment of Charlotte Gilbert as the Group’s Managing Director for Client and Product Solutions (CPS). The CPS team is responsible for setting Arrow’s capital formation strategy and broadening the firm’s investors set by enabling global capital pools to access the opportunities presented by a growing investor landscape. Gilbert brings…

Government launches Consumer Credit Act reform consultation

12th December 2022 Consumer Collections | #consumer credit act

The Government has launched a plans to reform of the Consumer Credit Act (CCA) by opening a consultation. The Consumer Credit Act 1974 governs the regulation surrounding billions of credit card purchases, personal loans and consumer hire agreements made by UK consumers every year. The Government says that this reform will facilitate innovation in the…

Aryza launches next generation of insolvency software

12th December 2022 Business |

Aryza, a developer of software solutions for the insolvency, credit and debt recovery sectors, has launched, what it calls, its next generation insolvency software, Aryza Insolvency. The user-friendly portal provides consumers with access to an intuitive dashboard, designed to help them easily access the support they need, as well as supporting Insolvency Practitioners (IPs) to…

Consumer spending remains strong

12th December 2022 Consumer Lending | #consumer credit

Latest UK Finance data has found that despite the continuing collapse in confidence during Q3, consumer spending remained strong overall, although inflation masked weaker activity. The Personal loan borrowing to fund larger purchases fell away, suggesting the “make hay while the sun shines” effects seen in Q2 may have abated. The figures showed that house…

Mortgage lending to fall 15% next year

12th December 2022 Consumer Lending | #mortgage lending

New figures from UK Finance have indicated that overall mortgage lending is expected to fall 15 per cent next year, returning to pre-pandemic levels.Whilst mortgage lending to homebuyers is expected to fall by 23% next year as the cost of living squeeze and rising interest rates make property less affordable. Loans for home purchases will…

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