Credit, Collections & Insolvency News
Here is an overview of The Money Charity’s latest statistics for February 2024 Personal debt in the UK People in the UK owed £1,836.4 billion at the end of December 2023. The average total debt per household, including mortgages, was £65,395 and per adult was £34,526, around 99.9% of average earnings. Net mortgage lending decreased by…
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Ongoing financial strain is taking an increasing toll on the health and wellbeing of the nation, with almost half of UK adults saying their mental and physical health has suffered because of their financial situation in the last year, according to new research from St. James’s Place (SJP). As the UK slips into recession, around…
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13% of small business owners have backed out of a loan due to the demand for a personal guarantee according to new research by Purbeck Personal Guarantee Insurance. Purbeck says there is a concerning lack of understanding of personal guarantees in the context of business loans amongst small businesses. The survey found that although 30%…
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GB Bank has announced it has appointed Mark Sismey-Durrant as its new Chair. Sismey-Durrant joins the Middlesbrough-based bank after spending over 40 years in the UK banking sector, with the majority of that time spent in senior roles. He replaces former GB Bank Chair, Mike Kirsopp, who has stepped away from the business to return…
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Analysis of figures from councils across England by responsible lender, Creditspring has revealed that £85 million of the Household Support Fund remains unspent with the 31st March 2024 deadline fast approaching. The Household Support Fund was first launched in October 2021, and has been extended several times. The current tranche, which has been running since…
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