Credit, Collections & Insolvency News
Latest Office for National Statistics (ONS) figures have shown that inflation, fell to 10.5% in the year to December, compared to 10.7% in November. The drop was due to fuel prices falling along with clothing and footwear prices, however, this was offset by rising costs in restaurants and hotels. The cost of food also continued…
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Almost two in five over-55s (39%) said that their outgoings exceeded their income during parts of 2022, new data from more2life and economics consultancy Cebr has found, with a growing number turning to unsecured borrowing to cover shortfalls. The research also revealed that the number of people whose spending exceeded their income every month has more than doubled to 8% (2022) from…
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In an open letter sent today to the Chancellor, Jeremy Hunt MP, 95 Charities and non-profit organisations across the UK have joined together to call for more targeted support in the form of a social tariff for the energy market to help older and disabled households heat their homes. New research by Age UK reveals strong…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales were 32% higher than in the same month in the previous year (1,489 in December 2021) and 75.5% higher than December 2019 (1,119). Business insolvencies fell 3.25% in December 2022 to a total of 1,964 compared to…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies decreased by 20.4% to 8,339 in December 2022 compared to 10,473 in November. They were 1.3% lower than December 2021’s figure of 8,453, and 0.8% lower than December 2019 (8,406). There were 397 bankruptcies were registered, which was 13%…
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The latest UK Consumer Prices Index (CPI) figures, published by the Office for National Statistics (ONS) show that CPI rose by 10.5 percent in the twelve months to December 2023, down from 10.7 percent in November. The drop was due to fuel prices falling along with clothing and footwear prices, however, this was offset by…
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Global information and insights company TransUnion has announced a partnership with Mortgage Magic by launching credit report integration to make it even easier for brokers to recommend the most appropriate product for their clients. The new feature, which is powered by TransUnion’s Consumer Platform, enables clients of brokers using the Mortgage Magic platform to obtain their…
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Latest figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland increased by 23%. There were 114 company insolvencies registered in Scotland, 23% higher than the number in December 2021 and 28% higher than in December 2019. The insolvencies. comprised of 22 compulsory liquidations, 85 CVLs and seven…
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Latest monthly statistics from the Insolvency Service have indicated that Northern Irish business insolvencies and personal insolvency increased. The figures in December 2022 indicated that there were 15 business insolvencies registered in Northern Ireland, 67% higher than December 2021, but 53% lower than December 2019. The business insolvencies comprised of 11 CVLs, two compulsory liquidations…
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Intrum UK has announced that it has secured Investor in Customers (IIC) Gold accreditation, reinforcing its commitment to deliver the highest standards of customer service. It’s the ninth consecutive year that Intrum has held the highest mark of distinction since IIC was founded in 2006. Each IIC assessment is based on four pillars of customer…
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