5th September 2023 - Credit Connect

Levels of financial anxiety growing

5th September 2023 Arrears and Recoveries | #financial anxiety

Almost a quarter of people feel anxious most (or all) of the time, and the levels of anxiety are growing – particularly among younger people. In many cases, it’s inextricably linked to financial problems according to analysis by Hargreaves Lansdown (HL). The most recent edition of the HL Savings & Resilience Barometer found that people…

Victim-survivors of economic abuse are being failed by criminal justice system

5th September 2023 Consumer Collections | #economic abuse

Victim-survivors of economic abuse are being failed by the criminal justice system according to a new report by the charity Surviving Economic Abuse (SEA) – with a new case being reported to the police every 20 minutes. Despite this high prevalence and economic abuse now being recognised in law, the charity’s report, ‘Seen Yet Sidelined’…

One in five families couldn’t cope financially without grandparents

5th September 2023 Consumer Collections |

One in five families couldn’t cope financially without grandparents providing their services for free according to research by SunLife. The research showed that more than half of grandparents provide childcare for their grandchildren during the working week, giving up more than four hours a day on average Not only are grandparents not being paid to…

Business insolvencies predicted to rise further in 2024

5th September 2023 Arrears and Recoveries | #business insolvencies

Around 7,000 UK businesses are likely to go insolvent every quarter in 2024 as high interest rates cause financial strain and the UK economy enters recession, according to a new report from The Centre for Economics and Business Research (Cebr). Cebr research showed that were over 6,700 business insolvencies in Britain in Quarter 2 2023,…

Nine in ten law firms optimistic despite financial headwinds

5th September 2023 Commercial Credit Management |

Nine in ten small to medium-sized law firms are optimistic about their financial performance in the coming year, a new legal benchmarking survey commissioned by NatWest has found. The research found that whilst many small firms feel optimistic about their financial performance in 2023, the survey evidence suggests that firms’ fee rates will not rise…

Cerberus Receivables Management achieves gold in sustainability rating

5th September 2023 Commercial Credit Management |

Cerberus Receivables Management (CRM) has announced that it has been recognised by a global sustainability rating scheme, moving up from a silver rating to gold in just 18 months. The Salford-based specialists in recovery and realisation of receivable assets has built on its invitation to submit to the EcoVadis Sustainability Assessment last year to support banking partners…

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