Credit, Collections & Insolvency News
The Government has paid out £7.39bn to settle bad Covid-era loans, with £2.23bn more in arrears and £750m in default. With data showing that the Government paid out £1.2bn to settle pandemic emergency loans that had gone bad in Q2, Department of Business, Energy and Industrial Strategy figures suggest taxpayers could ending up paying £11.5bn…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency numbers fell 11% in August 2023 when compared to August last year. The personal insolvency figures totalled 8,536 compared to the same month in the previous year (9,584 in August 2022). Personal insolvency figures consisted of 648 bankruptcies, 2,714…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales for August 2023 increased by 19% (2,308) 19% higher than in the same month in the previous year (1,941 in August 2022). Business insolvencies increased by 33.6% in August 2023 to a total of 2,308 when compared…
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Debt purchase, collections, litigation and reconnection specialist, Perch Group has announced that it has successfully completed on two facilities with a combined value of £90 million to enable the next stage of its ambitious growth plans. The fresh new capital comprises of a new NatWest-led banking syndicate, which includes Hampshire Trust Bank, and a material…
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Latest figures from Accountant in Bankruptcy (AiB) have indicated that Scottish business insolvency numbers (liquidations and receiverships) increased by 6% in August. In August 2023 there were 112 company insolvencies registered in Scotland, 6% higher than the number in August 2022. The business insolvencies comprised of 33 compulsory liquidations, 71 CVLs and 8 administrations. There…
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Latest monthly statistics from the Insolvency Service have indicated that Northern Irish personal insolvencies have risen whilst business insolvency figures fell. In August 2023 there were 139 personal insolvencies in Northern Ireland, which was 11% higher than in August 2022. The insolvencies consisted of 108 IVAs, 14 DROs and 17 bankruptcies. Business insolvencies registered in…
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Specialist funding provider, Pulse Cashflow Finance has announced that Siouxsie Ashmore has been promoted to the new role of Head of Strategic Finance with immediate effect. Ashmore will work closely with Martin Bennison the firms’ Sales and Marketing Director to ensure the ambitious growth objectives for this funding solution are achieved. Ashmore brings a wealth…
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The Government must extend the 75 per cent rates relief discount for retail, hospitality and leisure businesses to provide targeted help to hard-pressed small businesses according to the Federation of Small Businesses (FSB). The FSB is calling for the relief to continue beyond the April cut off in England, throwing a lifeline to thousands of…
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HSBC and Nova Credit have agreed on a new partnership which will enable newcomers to the UK to leverage their international credit history instantly and free of charge when applying for a credit card. New and existing customers applying for an HSBC UK credit card online can choose to share their credit history from a growing list…
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