Credit, Collections & Insolvency News
The Bank of England’s Financial Stability Report has forecast a continued rise in households with high debt servicing ratios and an increase in the use of consumer credit. The report says that while households and businesses are already facing cost-of-living pressures and higher borrowing costs, the full impact of higher interest rates has yet to through…
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New research from Vitality reveals more than 2 in 3 adults are worried about money. As many as 69% of respondents are worried about their finances, with 35% not feeling resilient when it comes to supporting themselves or their family. This maybe be due to the fact that 3 in 5 people reported an increase…
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Data from SCOR’s Digital Solutions subsidiary ReMark reveals worrying gaps in financial understanding among Millennials and Gen X. Less than half of people aged 18-42 have a ‘good’ understanding of life and health insurance products, and 11% admit to having ‘no knowledge’ at all. The report which interviewed 12,563 Gen Zs (18-26) and Millennials (27-42)…
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Hampshire Trust Bank (HTB) has announced it has appointed Alan Coleman as Lending Director within its development finance division. Coleman joins from West One Loans where he was a portfolio manager. He was responsible for taking development finance cases from initial enquiry through to on-going management and subsequent redemption. In his new role, Coleman is…
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A new survey by LiveMore has revealed a lack of trust in financial service providers among those aged 50 to 79. LiveMore’s latest findings closely mirror those of a similar survey conducted by the compnay in October 2022, which reported a trust shortfall of 58%. Women were slightly more mistrusting than men, with percentages of…
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