Credit, Collections & Insolvency News
Analysis of the latest Bank of England data on average quoted household rates from Freedom Finance shows a mixed picture for the cost of consumer credit products at the start of 2023. Total credit card borrowing dropped in December as consumers repaid £0.5 billion of net credit card debt and this perhaps drove a more…
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Some 10 million households will demonstrate financial resilience this year, with spending power concentrated in London, the South-East and city locations throughout the UK according to new analysis from Experian. The research reveals more than a third (35%) of households are equipped to recover from temporary financial issues in 2023 despite the wider economic landscape.…
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Lambert Smith Hampton has announced that it has appointed Shaun Hampton-Matthews has joined as Director, Asset Based Lending in its Asset Advisory division Hampton-Matthews has a wealth of experience from his 40-year career spanning Banking, ABL and restructuring, having spent 15 years with the Lloyds Bank Group and the last 25 years with the KPMG/Interpath…
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Ofgem has announced that, following constructive engagement with Ofgem, CO-OP Energy has agreed to deliver additional energy efficiency measures after the company did not meet its Energy Company Obligation (ECO3). CO-OP Energy was a domestic supplier previously but exited the market in August 2019. It has committed to make up any shortfall in energy savings…
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More than 25 million consumers are only just managing to scrape by financially, fearing their income soon won’t cover their essential spending according to research by Tink. The research found that almost half (47%) of people in the UK are ‘only just managing’, where they expect their income not to cover their essential spending in…
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