Credit, Collections & Insolvency News
Last week was the Collections Technology Think Tank, there was some good attendance which was great, and we were lucky enough to have some great speakers covering some new topics. On the day it is always busy, juggling between asking questions, fielding questions from the attendees and keeping the time on track. However, there were…
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Analysis by Lloyds shows that optimism among businesses in London dipped in February, with uncertainty over whether the economy will fall into recession having an impact on confidence. Optimism among the capital’s companies has dipped 19 points to 18%, according to the bank’s business barometer, with this coming in slightly lower than the 21% national…
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Almost two-thirds (65%) of UK retail business owners report that the rising cost of living has made running their business harder, with nine out of ten (87%) of those businesses saying it has been the “toughest winter in memory” for their business according to a new poll by Santander. The data revealed the biggest challenges…
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Although the outlook for consumer inflation and interest rates is stabilising, industrial inflation could remain in double digits until the end of 2023, according to new projections from EY-Parthenon. EY-Parthenon’s latest research finds that, although consumer price index (CPI) inflation could fall to around 4% by the end of 2023, producer price index (PPI) inflation…
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New figures from the Insolvency Service show that there were nearly 88,000 IVA’s were registered in England and Wales in 2022, the highest annual number since records began in 1990. In England and Wales, one in 18 Individual Voluntary Arrangements (IVAs) (5.5%) registered with the Insolvency Service in 2021 terminated within one year of being approved.…
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The Institute of Directors’ (IoD) Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, rose to -17 in February 2023, up from -28 the previous month and a near-record low of -64 in November. Confidence in the UK economy is now similar to the time of the Omicron restrictions in…
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New data from specialist lender Hodge shows a significant increase in the number of its 50+ customers taking out a mortgage for debt consolidation in January this year compared with January 2022. The data shows that in January 2023, 18% of customers said they were using the loan for debt consolidation, compared with just 2.13%…
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Freedom Finance has announced that it has renewed its partnership with the Centre for Social Justice (CSJ) until 2025. The extended relationship will see Freedom Finance support, among other issues, the CSJ’s work investigating the relationship between access to credit, illegal lending and debt advice. Freedom Finance’s Chairperson, Brian Brodie, already sits on the Advisory…
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