Credit, Collections & Insolvency News
A third of drivers (32%) say that they are far less likely to replace their existing car by committing to a long-term (three-year) lease than they were 12 months ago, an independent study has research by Mmobility provider Sogo has found. The findings also indicate that only 14% of drivers would be much more likely to…
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The Money and Pensions Service (MaPS) has announced that Ann Harris OBE, CPFA has been reappointed to its Board by the Department for Work and Pensions (DWP). Harris has served as Non-Executive Director on the MaPS Board since it was first established. Her new term will run for two years from 1st April 2023 to…
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Struggling households borrowed £11 billion to cope with the cost of living crisis in 2022 and are cutting back on essentials to keep up with the repayments, according to new polling from StepChange Debt Charity. The polling, conducted by YouGov, reveals that more than two in five UK adults (43%) are taking action such as…
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The director of haulage company fraudulently applied for a £50,000 Bounce Back Loan and then applied to dissolve the company has been jailed for 12 months. Kulwinder Sidhu, has been sentenced to 12 months imprisonment, after pleading guilty to offences under the Companies Act and the Fraud Act, having abused the Bounce Back Loan financial…
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Retail experts at business advisory firm Quantuma has estimated that business failures in the retail sector could spike by as much as 71% in 2023. The Centre for Retail Research reported that in the first month of 2023 alone, seven retailers failed, impacted 361 stores and putting at risk 3,215 jobs. Quantuma Chief Executive, Carl…
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