Credit, Collections & Insolvency News
With fewer than 90 days to go until the start of the Consumer Duty the Financial Conduct Authority (FCA) has urged firms to ensure they are ready for the 31st July deadline. Sheldon Mills, Executive Director of Consumers and Competition at the FCA, warned that firms who ignore the Duty or who pose the most…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business fell by 4% in March 2023 compared with the same month in 2022. In Q1 2023, new business was 2% lower than in Q1 2022. The retail store and online credit sector reported new business up by 5% in…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes fell in March 2023 by 8% compared with the same month in 2022. The corresponding value of new business fell by 7% over the same period. In Q1 2023, new business fell 6% by value and 5%…
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An estimated 700,000 households missed a housing payment in the last month, new Which? research suggests, as the consumer champion calls on essential businesses to do more to support people through the cost of living crisis. Missed housing payments were particularly high among renters – with one in 20 (5.2%) renters surveyed missing a payment…
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Research by iwoca has found that recession fears are receding with small business loan application figures rising. The company says there are signs of confidence returning to the UK’s 5.5m small and medium-sized businesses and the lending market they rely on. The new research, carried out with over one hundred SME finance brokers who collectively…
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New research from National Debtline, the free debt advice service run by the Money Advice Trust, has revealed that the average level of priority debt – including council tax, energy and rent arrears – held by callers has risen 54 percent since 2018, from £2,642 to £4,080. The findings, based on a survey of National…
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Debt purchase, collections and litigation specialist, Perch Group has announced the appointment of Rob Oxley as Origination Director and Bronia O’Regan as Lead Implementation Manager. Oxley brings 13 years’ experience in senior client facing roles within the credit risk and collections industry to Perch Group. Four of those years were spent at TransUnion and six…
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Research from Cornwall Insight has found that price cap projections have shifted just £38 since March, with a typical household now predicted to pay approximately £2,060 per year from July. The stabilisation of the forecasts reflects the decreased volatility in the wholesale energy market, with the relatively mild winter, higher than-predicted European storage levels and…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in March 2023 by 14% compared with the same month in 2022. In Q1 2023, new business was also 14% higher than in Q1 2022. The business new car and commercial vehicle…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes fell by 10% in March 2023. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…
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In April the following administration notices have been issued and advertised in the London Gazette for the following companies: 360 PERSONNEL LTD A MARKETING VOCATION LTD ALLENS CRANKSHAFTS LTD ALPHABET BREWING LTD AMSYS AFTERMARKET SERVICES LTD AMSYS LTD ASSET ACADEMY LTD B B & M (MIDLAND) LTD BAGSHOT MANOR DEVELOPMENTS LTD BAS CASTINGS LTD BIO-BEAN…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in April: & SO THEY MADE LTD 107 (BLACKPOOL) LTD 1ST CARS PRIVATE HIRE LTD 1ST TO QUOTE (CLEANING LEADS) LTD 2 SAVE ENERGY LTD 24/7 FITNESS KIDDERMINSTER LTD 2XELLIOTT LTD 3D ELEVATIONS LTD. 4AMIGOS RESTAURANT…
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In April Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 1 CHARLES STREET LTD 1986 LONDON LTD 41 LOWNDES STREET LTD 53 DOLLIS HILL LTD A K TRAVEL WORLDWIDE LTD A.J. INSULATION LTD A.M.A BRICKWORK LTD AARTEE STEEL HOLDINGS LTD AB BUILDING PLASTICS LTD ABH CONSTRUCTION…
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