Credit, Collections & Insolvency News
The charity behind National Debtline has responded to the Government’s decision to row back on plans to bring insolvency firms under independent regulation, calling the decision disappointing. The Money Advice Trust, which runs the free National Debtline and Business Debtline advice services, warns that the changes do not go far enough to protect people in…
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With the latest labour market statistics, showing a 0.5 percentage point quarterly rise in unemployment in the three months to July, the Institute of Directors is calling on the Bank of England to stop raising interest rates. Kitty Ussher, Chief Economist at the Institute of Directors, said “With today’s data showing a weakening labour market,…
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The Financial Conduct Authority (FCA) has announced plans to introduce new screening checks to clampdown on the promotion of financial products to consumers with stringent new rules blocking some firms from signing-off on adverts. Firms approving financial marketing for unregulated firms will have to demonstrate they have the necessary skills and expertise to approve adverts.…
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Research by Castle Trust Bank has found that over 76% of brokers have said the level of notice a lender gave them regarding the withdrawal of a product would impact their willingness to consider using the lender again in the future. The research found that over 60% of brokers said they would be less willing…
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Latest Bank of England figures have indicated that the value of mortgage arrears jumped by almost a third (29%) in April-June compared with the same period in 2022, with the total value of outstanding mortgage debt at £16.9 billion, the highest total since 2016. New arrears cases equated to 16% of the total outstanding mortgage…
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