Credit, Collections & Insolvency News
Following the Federation of Small Business (FSB) super-complaint to the Financial Conduct Authorityover SME lending practices, including the use of personal guarantees on small business loans, new data from Purbeck Personal Guarantee Insurance has revealed that 7% of the low-value, personal guarantee-backed loans it has protected have been for under £10,000, while 16% have been…
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Londoners are the most reliant on their savings with almost three milion people forced to dip into savings pots to afford essential everyday costs, according to new research from AI powered transaction analytics firm, Fuse. A third (33%) of people in London rely on their savings to pay everyday expenses compared to 24% of people…
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Business leaders in the financial services sector are feeling optimistic moving into 2024, according to new research from KPMG UK. The survey of senior executives working in the sector found that 87% are ‘confident’ when it comes to overall business growth in the first quarter of 2024, supported by a buoyant outlook on profitability for…
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FTS Recovery has announced that it has appointed industry veteran Andrew Duncan as Head of both its London office and secured lending and advisory services. Duncan joins from Leonard Curtis where he spent 12 years as director in the London office of the specialist corporate recovery and insolvency practice. A licensed insolvency practitioner and chartered…
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Income and expenditure specialist, Inicio has announced a customer engagement partnership with Northumbrian Water using an avatar called Budgie. Inicio says that the customer engagement rates were around 40%, meaning a large number of customers who previously weren’t accessing support could now be helped. A further 85% of customers were able to complete the process…
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New research by Lowell has found that over a quarter (28%) more people think they will have any Christmas debt paid off by the end of February when compared to last year. The research also found that 14% more consumers were able to rely on their disposable income for Christmas 2023, compared to the previous…
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