Credit, Collections & Insolvency News
The Information Commissioner’s Office (ICO) has issued the Bank of Ireland UK with a reprimand for mistakes made on more than 3,000 customers’ credit profiles. The investigation found that Bank of Ireland UK sent incorrect outstanding balances on 3,284 customers’ loan accounts to credit reference agencies, organisations that help lenders decide whether to approve financial…
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Consumer confidence has improved in the run-up to Christmas, according to the latest GfK consumer confidence index. The index score has risen two points since last month but remains firmly in negative territory at minus 22 – an improvement on the minus 29 reported this time last year. All five components within the survey saw…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales in November 2023 increased by 6.4% in November 2023 to a total of 2,466 compared to October’s total of 2,317, and increased by 21.4% compared to November 2022’s figure of 2,032. Business insolvencies increased by 47.1% from…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency numbers decreased by 16.6% in November 2023 to a total of 8,243 compared to October’s total of 9,887, and decreased by 21.3% compared to November 2022’s figure of 10,478. he lower number of personal insolvencies compared to November 2022…
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Latest figures from Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland fell by 8%. In November 2023 there were 109 business insolvencies registered in Scotland, this was 8% lower than the number in November 2022. The insolvencies comprised of 30 compulsory liquidations, 74 CVLs and five administrations. There were no CVAs or receivership appointments.
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Latest monthly statistics from the Insolvency Service have shown that business insolvencies rose whilst personal insolvencies fell in Northern Ireland. The data showed that In November 2023 there were 26 business insolvencies registered in Northern Ireland, 30% higher than November 2022. The insolvencies was comprised of six CVLs, 13 compulsory liquidations, five administrations and two CVAs.…
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Generous grandparents are set to spend £4.3 billion on presents for grandchildren this Christmas according to the latest findings from over 50s experts SunLife. SunLife’s research reveals that grandparents are planning to spend £140 on each grandchild this Christmas – which, despite the cost-of-living crisis, is £14 more than last year – and with an…
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Ofgem has announced that energy debt has reached £2.9 billion and may look to recover this by raising the price cap and increasing energy bills. The energy regulator says that the scale of energy debt means that they must take action to protect market and ensure customers are protected from uncontrolled rises This follows an…
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