Credit, Collections & Insolvency News
Temporary measures forcing lenders to offer greater support to borrowers in financial difficulties could become permanent, under new proposals announced by the Financial Conduct Authority (FCA). The FCA also announced that 17 lenders will pay up to £47 million in redress to financially-distressed borrowers, after failing to offer appropriate support. The payments will be made…
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More than six in 10 (61 per cent) UK businesses have shifted their focus from growth towards cost cutting, in response to rising inflation and interest rates, according to the annual European Payment Report (EPR) from credit management services provider Intrum. The study of more than 10,000 companies across 29 European countries surveyed 500 businesses in…
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New research by National Energy Action has found that the number of households in fuel poverty is approximately 6.6 million. Energy bills are still approximately almost double the level of October 2021. Just 21 months ago, the typical household paid £1,271 a year, and even with the new price, 2 million extra UK households are in…
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With inflation falling back to its lowest level since March 2022 surging food prices will be very worrying for families according to the Resolution Foundation. CPI inflation fell back to 8.7 per cent in April – its lowest level since March 2022 (7 per cent) – driven by last year’s initial energy price shock falling…
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