3rd January 2024 - Credit Connect

Quarter of Buy Now Pay Later users hit by late repayment fees

3rd January 2024 Alternative Consumer Lending | #Buy now pay later

Nearly a quarter (22%) of Buy Now Pay Later (BNPL) users have missed one or more repayments in the six months to December 2023, leading to late payment fees and in a quarter of cases, a mark against their credit score too according to data from the nonprofit Centre for Financial Capability (CFC). More than a…

Nearly 30,000 businesses predicted to fail this year

3rd January 2024 Business | #business closures

PwC Economists have issued a stark warning predicting that nearly 30,000 businesses in the UK will collapse under the weight of high interest rates in 2024. The research says company insolvencies will surge by 15% in the next 12 months as corporations and small businesses struggle to meet the repayments on debts run up to…

Third of women unable to afford everyday spending in a recession

3rd January 2024 Consumer Collections |

New research from wealth manager Quilter, gathered by YouGov has found that over a third (36%) of women would not be able to afford their everyday expenses should the UK enter a recession, compared with just a quarter (26%) of men. The cost-of-living crisis appears to be putting even greater pressure on women’s finances than…

StepChange appoints new member to its Trustees board

3rd January 2024 Appointments |

StepChange Debt Charity has announced the appointment of Janet Pope as a Trustee to it’s Board. The appointment follows a comprehensive and extensive search process to find new expertise to support the future direction and strategy of the charity and completes the process of recruiting four new Trustees for the charity throughout 2023. John Griffith-Jones,…

Business sentiment falls back

3rd January 2024 Commercial Credit Management | #business confidence

Having been gradually ticking up since its recent nadir of -30 in June 2023, the Institute of Directors’ (IoD) Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, fell back to -28 in December from -21 in November. However, despite the decline in the headline indicator, business leaders’ confidence in…

Four in ten less financially secure than a year ago

3rd January 2024 Arrears and Recoveries | #financial management

Four in ten (41% consumers are heading into 2024 saying they feel less financially secure than when 2023 began, according to new research from KPMG UK. Assessing confidence for 2024, KPMG’s latest Consumer Pulse survey of 3000 UK consumers shows those feeling worse about their financial security outnumber those feeling more secure by almost two…

Inicio AI makes board appointment

3rd January 2024 Appointments |

Inicio AI has announced that is has appointed Paul Birks to its leadership advisory board in the role of Non-Executive Director. Birks has over 25 years of expertise in data, analytics, and transformative leadership. As Cabot Financial Europe’s former Chief Data and Analytics Officer, Birks transformed operations into a data-driven insights business, enhancing customer engagement through…

Create your Account:

1. Please fill in the boxes below with your email, tick the relevant newsletters you would like to subscribe to and click the Sign Up button.

2. Wait for the double opt-in page to open and confirm your email address.

3. You have subscribed and have agreed to receive the newsletters.

Credit Connect Media is committed to reserving your right to privacy. By using our website and services you consent to our collection and use of your information as described in or privacy policy.

Credit Connect Media has set up a network of business partners whose products and services may be interesting and useful to you. They may contact you from time to time. By subscribing you confirm that you agree to our Terms & Conditions statement.