Credit, Collections & Insolvency News
New analysis by the British Business Bank shows that the Government’s £47 billion Bounce Back Loan Scheme rescued around one in 20 participating businesses. The pandemic support scheme, which offered taxpayer-guaranteed facilities of up to £50,000 to business owners to help the firms survive lockdown measures, prevented the failure of between 5% and 6.5% of…
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Energy regulator Ofgem has announced that Hudson Energy Supply (HES) is to be issued a penalty of £1,668,426 for serious overcharging of business customers. The regulator found that HES has failed its customers by with 10 breaches of licence conditions relating to a situation whereby HES had outsourced elements of its day-to-day customer operations without…
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UK outsourcing specialist Sigma Connected has announced its expansion into the United States as it secures its first two new clients in the country. The company which offers ‘white label’ customer contact centre and debt collection services across the financial services, telecommunications, energy and retail sectors, has launched Sigma Connected US LLC. Services will be…
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A new report by Lenvi Riskfactor has found that almost nine out of ten (89%) European business leaders have noted an increase in fraudulent activity against their businesses in the past year; with more than eight in ten (81%) expecting a continued increase through the current financial year (2023/24). This issue is compounded by the…
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New research from Go.Compare Energy has revealed that the number of UK households who won’t be putting up Christmas lights to save on energy costs has increased in 2023. This year, 18% of people told Go.Compare they wouldn’t be lighting up their homes this Christmas – an increase from December 2022, when 16% of bill…
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The total value of refunds and charge disputes could be as high as £13.2 billion per year in the UK, with the cost implications for retail Britain set to be greater still, according to new research from Equifax. The research found that more than two in three consumers (71%) have never had a refund or…
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New YouGov polling commissioned by StepChange Debt Charity has found that one in four people (24%) in Scotland will struggle to afford Christmas this year. The survey also found that one in twelve (9%) people will have to borrow on credit to afford Christmas. One in every twenty people (4%) are still paying off their…
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Phillips & Cohen Associates, PCA), the global deceased account care servicing and technology solutions specialists has announced the appointment of Robert Husband as Global Chief Financial Officer. Husband is a highly experienced global business leader who has spent nearly 20 years in senior executive roles across the Financial Services and Fintech sectors. Following various international…
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Debt advice provider, PayPlan is supporting a national public health campaign to reduce the stigma around gambling harms. The nationwide initiative, by charity GambleAware, revealed that 75% of people who had experienced gambling problems felt they couldn’t open up to loved ones, with stigma being the most significant barrier preventing people from opening up. People…
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