Credit, Collections & Insolvency News
Building trust and putting customers first is the focus of new guidance being published by the Consumer Council for Water (CCW), as part of wider efforts to transform the culture of the water industry. The CCW is asking water companies to embrace the challenge of creating a culture that is focused on people and strengthening relationships…
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Latest quarterly figures from the Insolvency Service for England & Wales have indicated that personal insolvency numbers increased by 29%, when compared ro June 2022 with 643 bankruptcies registered. There were 2,320 Debt Relief Orders (DROs), which was 21% higher than June 2022. There were, on average, 6,026 Individual Voluntary Arrangements (IVAs) registered per month…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for June 2023 was 2,163, this was 27% higher than in the same month in the previous year (1,698 in June 2022). The increase business insolvencies compared to the same month last year was mostly driven by…
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The cost of living is causing more young people to become dependent on the use of credit to manage their finances according to new research Moneyhub Decisioning. The research has found that in the last six months, a quarter (24%) of people under the age of 35 have applied for an overdraft, of which 21%…
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Latest figures from Accountant in Bankruptcy (AiB) have indicated that Scottish business insolvency numbers (liquidations and receiverships) have increased, In June 2023 there were 113 business insolvencies registered in Scotland, 51% higher than the number in June 2022. The business insolvencies comprised of 36 compulsory liquidations, 72 CVLs and five administrations. There were no receivership appointments…
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New data from StepChange Scotland has revealed that around one in five (19%) mortgaged clients were in mortgage arrears in the second quarter of this year, up from almost one in seven (15%) in the second quarter of 2022. This is alongside a year-on-year rise in the proportion of mortgaged clients, which is up from…
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The percentage of restaurant companies which are now making a profit (based on an analysis of the UK’s Top 100 restaurant companies) has doubled in the last year from 35% to 78% according to research by UHY Hacker Young. Several rounds of dramatic restructurings of those restaurant companies, which have taken place since the start…
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Latest monthly statistics from the Insolvency Service have indicated that Northern Irish business insolvencies fall whilst personal insolvencies have risen In June 2023 there were 14 business insolvencies registered in Northern Ireland, 44% lower than June 2022. The business insolvencies comprised of 11 CVLs, two compulsory liquidations and one CVA. There were no administrations or receivership…
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Business outsourcing specialist Sigma Connected has announced a 12-month partnership with national foodbank charity, the Trussell Trust. Sigma Connected, which provides contact centre services for the utilities, retail, telecommunications and financial services sectors, selected the charity through an employee vote. The company’s UK based employees will be able to donate between £1 and £10 each…
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