Credit, Collections & Insolvency News
Latest Cornwall Insight’s analysis has suggested that the energy price cap is expected increase by five percent in the first quarter of next year, before declining from the end of March. Based on it;s analysis, for a typical dual fuel household, it has predicted that the Q1 2024 price cap will be £1,931, this is…
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New research by Premium Credit has highlighted the impact that inflation and rising interest rates have had on SME business confidence. SMEs are optimistic for the year ahead expecting revenues to rise although concerns remain about how to cope with inflation and higher interest rates, The company’s Insurance Index, which monitors insurance buying and how…
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A former Director of Extra Energy Supply has been banned from running a business for six years. Mordechay Ben-Moshe, 48, was a Director of Birmingham-based Extra Energy Supply, which supplied around 130,000 household and business customers at the point it went into administration in December 2018. At the time of its collapse, Extra Energy Supply was…
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Latest data from UK Finance has found that there were 377.9 million credit card transactions in August, 0.1 per cent fewer than in August 2022. The total spend of £20.6 billion was 2 per cent higher than August 2022. Outstanding balances on credit card accounts have grown by 8.5 per cent over the twelve months…
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StepChange Debt Charity has announced that it has begun the recruitment process for its next Chair of Trustees after its Chair, John Griffith-Jones, announced he will be stepping down next May at the end of his term of office. Griffith-Jones, who was Chair of the Financial Conduct Authority from 2013 to 2018 and previously held…
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Ofgem has announced a call for input on the ‘standing charge’ – how it is applied to energy bills and what alternatives could be considered. The standing charge is a daily charge that you pay your energy supplier each day to cover fixed costs of providing gas and electricity, regardless of how much energy you…
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Business outsourcing provider Sigma Connected has announced that it has appointed Susan Young as Director of Insurance Services as part of its ambition to grow in the sector. In a newly created Group-wide role, Young will use her insurance expertise to build relations with businesses across the industry, identifying new opportunities and leading the onboarding…
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Trade credit insurer Allianz Trade has announced that it has appointed Peter Evola as Commercial Director for the UK & Ireland with effect from 1st December, subject to regulatory process. Evola joined Allianz Trade 12 years ago and has worked for the UK and Ireland, Northern Europe Region, and at group head office in Paris.…
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The Creditfix Group has announced the appointment of Euan Clark as the new head of debt support specialist, Carrington Dean. Clark brings extensive experience and understanding of the insolvency sector, having risen through the ranks at Carrington Dean over the last eight years, where he began as a case officer and most recently worked as…
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Two individuals guilty of making £3 milion worth of fraudulent mortgage applications. Larry Barreto, based in the East Midlands, has been found guilty today of 11 charges of fraud by false representation following a prosecution brought by the Financial Conduct Authority. At an earlier hearing, Mr Barreto pleaded guilty to two offences of arranging and…
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New research by Kearney has found that the global share of ‘zombie companies’ has risen 5% year-on-year in 2022. The study shows a net increase of 95 zombies globally, rising from 1,893 in 2021 to 1,988 in 2022. The research estimates the number of zombie companies to rise by over a fifth (21.5%) across the…
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