Credit, Collections & Insolvency News
Wales has seen the biggest increase in distressed companies of any part of the UK, according to new research by The Institute for Turnaround (IFT). The IFT’s latest Societal Impact Report shows that the number of struggling companies has risen in every area of the UK over the past year, apart from the Isle of…
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Britain’s macroeconomic policy framework is largely unchanged since the 1990s, and now needs an overhaul to tackle the risk of an unsustainable ratcheting up of debt that will hamper its ability to respond to economic shocks or fund public services according to the Resolution Foundation. Built to last – the 46th report from The Economy 2030 Inquiry, funded…
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More than seven in 10 adults have been targeted by scams in the last 12 months, receiving an average of three scam attempts each week, according to data from NatWest. Scams through digital platforms, social media firms and telecommunications companies make up the entirety of the top 10 financial scams Brits say they experienced this…
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This year the UK has seen a significant decrease in the number of late payments, i.e. invoices being paid after their due date, despite the rise in insolvency numbers and the continued financial pressure on businesses. According to an analysis of data provided by Creditsafe, between March and August 2022, there were 40,820,170 late payments…
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Consumer confidence has slumped ahead of Christmas as consumers continue to suffer a cost of living crunch. GfK’s monthly measure of consumer sentiment fell by nine points to -30 in October, the weakest reading since July. The index measuring changes in personal finances during the last year is up down six points at -19; this…
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Mortgage holders are repaying record amounts of mortgage debt in the higher interest rate environment, according to the Equity Release Council’s Autumn 2023 Market Report. The report says high levels of debt and a lack of pension savings make it increasingly likely that homeowners will need to borrow against the value of their properties in…
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Nearly one in five larger SME owners are considering selling their businesses as they prioritise succession planning, while a third have grown in the last year according to research from Shawbrook Bank. The study found that 17% of SME owners and decision makers view an exit strategy as a top concern. Among SMEs with a…
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Progress on rolling out smart energy meters remains too slow, and the Government has not done enough to convince the public of their benefits. A report published by the Public Accounts Committee (PAC) has warned that not enough has been done to ensure that the rollout, which has failed to meet its original targets and…
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