Credit, Collections & Insolvency News
Ofgem has said that energy firms should start compensating customers whose homes were wrongfully fitted with a PrePayment Meter (PPM), without waiting for the results of a major review The energy regulator has announced the launch of urgent work with stakeholders to look at what further protections may be needed within the rules, regulations and…
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Households with energy prepayment meters in their homes are nearly twice as likely to dip into debt due to the cost of living crisis than others, according to new data. The Office for National Statistics (ONS) found that 26% of adults who pay for their gas or electricity up front, reported using credit because of…
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A total of 1,340 businesses filed for administration in 2022, a 56% increase compared to 2021, according to analysis by full-service law firm Shakespeare Martineau. Construction, manufacturing and retail were the sectors worst hit, accounting for 39% of administrations. Greater London led the way with 20% of the filings, followed by the South East and…
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Latest research by FICO has shown that there was a significant rise in cardholders missing one credit card payment in December 2022. The research showed that accounts missing one payment jumped month-on-month by 19%. The percentage of accounts with two missed payments was 19% higher than in December 2021 and 20% higher for three missed…
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Debt advice specialist, Money Wellness has announced that it is set to appoint more than one hundred new professional advisers to provide additional capacity, enabling it to deliver free debt advice and ongoing support services following its commission earlier this month by the Money & Pensions Service (MaPS). The advisers will be employed on a…
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New research by Fluro has found a surge in personal loan requests as consumers consolidate their debts.. The study reveals that the UK consumer lending market has experienced a spike in activity in January 2023, with Fluro’s data tracking the highest numbers of loans requested since the summer. The year began with just over a…
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John Pye Auctions has announced the appointment of Chris Eckersley as its Head of Northwest Valuations. In his new role, Eckersley will be responsible for carrying out valuation work and disposals across the region, including plant, machinery, and business assets. In addition to broadening new and existing client relationships within the corporate recovery sector, Chris…
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Global information and insights company TransUnion has officially been named among the UK’s Best Workplaces for Wellbeing. Awarded by Great Place to Work, a global authority on workplace culture, the recognition is based on colleague feedback, and assesses individuals’ experiences of wellbeing at work, taking a holistic view on how the company supports work-life balance, sense…
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