Credit, Collections & Insolvency News
Motorists are set to spend a record 1.5 million used cars on finance this year borrowing £23 billion on car finance new research by AA Car Finance has revealed. Consumers bought 388,309 second-hand cars on finance in the first three months of 2023, up from 379,512 the previous year. If current trends continue, consumers will…
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The Bank of England has warned that rising interest rates are putting British companies at higher risk of corporate defaults, with the proportion of non-financial companies experiencing debt-servicing stress expected to hit 50% by the end of the year, up from 45% in 2022. The proportion rose to 70% for medium-sized companies, meaning corporate debt…
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Businesses in Scotland had 131,396 fewer unpaid invoices on their books in July 2023 than July 2022, according to new research from R3, the UK’s insolvency and restructuring trade body. R3’s analysis of data provided by Creditsafe shows that overdue invoice numbers in Scotland have fallen from 552,897 in July 2022 to 421,501 in July…
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One in two working private renters in England, 3.2 million adults, wouldn’t have enough in savings to pay their rent for more than a month if they lost their job, new research by Shelter reveals. And shockingly, 2.2 million renters (34%) would be immediately unable to pay their rent from their savings if they lost…
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Investment platform Lightyear announces the launch of small business investment accounts for freelancers and sole directors. The launch comes alongside a brand new partnership with BlackRock to bring access to Money Market Funds for UK businesses without the high fees or minimum investments. Whilst sole directors are the largest and most underserved segment of the…
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