Credit, Collections & Insolvency News
Optimism among small and medium-sized enterprises (SMEs) is at its highest level in almost two years, driven by a rise in output in December, according to a survey compiled by NatWest. However, the survey reveals a divide in the trading performance of services, manufacturing, and construction businesses. Services-based companies outperformed their larger peers, while manufacturers…
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UK Finance has released its latest card spending data for October 2023 highlighting that there were 377.7 million credit card transactions in October, 6.1 % more than in October 2022. The total spend of £20.4 billion was 5.7 % higher than October 2022. Outstanding balances on credit card accounts have grown by 8.7 % over…
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The Lord Chancellor has approved the reappointment of Alison Curry as the accountant member of the Insolvency Rules Committee (IRC). Curry is a licensed insolvency practitioner with 28 years of experience working within both private practice and the regulatory arena. She is currently Technical Manager at AlixPartners, where she provides legislative and regulatory compliance support…
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Leonard Curtis has added an experienced Insolvency Practitioner to its Manchester office. The firm’s newest senior recruit Andrew Knowles joins Leonard Curtis as a Director, bringing 20 years of restructuring and insolvency experience to the Manchester team. Knowles qualified as a licensed Insolvency Practitioner in 2013 with sector experience focused on the real estate and…
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Latest Bank of England data has highlighted that mortgage defaults and missed payments on credit cards and loans both surged at the end of the year, and are expected to keep rising. Missed credit card and loan payments, as a percentage of balances, are higher than they have been for at least five years with…
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Nova Credit, the cross-border and alternative credit analytics company, has announced a strategic collaboration with Creditinfo, a global service provider for credit information and risk management solutions, to help Ukrainians gain access to the necessary financial services needed to effectively rebuild their lives abroad. The partnership is powered by Nova Credit’s Credit Passport®, the only…
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British Gas came bottom in Which?’s annual energy firm survey, as the consumer champion calls on providers to improve unsatisfactory customer service and ensure they are providing value for money. Energy prices have stayed punishingly high this winter – with the price cap currently at £1,928 a year for a typical household. Cornwall Insight predicts…
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Controlaccount has been accredited as a living wage employer. The company’s living wage commitment will see everyone working at Controlaccount receive a minimum hourly wage of £12, higher than the government minimum for over 23s, which currently stands at £10.42 per hour. Controlaccount is based in the Bromsgrove, Worcestershire, a region where 13.3% of all…
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Artificial Intelligence (AI) conversational customer engagement solutions specialist, Webio has announced that it has launched an upgrade to its platform and user interface (UI). Designed to empower agents with faster, more intelligent information, the redesigned UI enhances agents’ ability to engage with customers, particularly those in vulnerable situations. With the Webio platform, AI and chatbots…
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