Credit, Collections & Insolvency News
New research by credit insurer, Atradius has revealed that the number of claims it received from UK businesses decreased by 18% compared to the same period in 2023, as a positive consumer outlook boosts consumer sectors. Atradius’ report reveals the energy and fuel sector had a 75% increase in payment defaults in Q1 year-on-year. The…
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A new report from the Building Societies Association (BSA) has found that those looking to get onto the property ladder are facing the toughest conditions in 70 years. The BSA says that significant changes are required if we are to help prospective first-time buyers get onto the property ladder in the current housing market. It…
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New research by Hargreaves Lansdown has found that couples with children spend an average of £6,969 more every year than couples without. Over 18 years, assuming 3% inflation, this adds up to an eye-watering £163,175. The research also found that parents are less likely to have enough cash at the end of the month, enough…
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The British economy is expected to remain subdued this year due to the Bank of England delaying interest rate cuts in the face of stubborn inflation according to a repott by the EY Item Club. The report now expects GDP growth of 2% in 2025, up from 1.8% in January’s Winter Forecast. However, the growth forecast…
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UK Finance has released a report which looks at the use of model clauses to support the development of Variable Recurring Payments (VRPs) for commercial applications. VRPs are a form of payments instruction that allows customers to authorise registered payment service providers (PSP) to initiate payments from their bank account on an ongoing basis. The…
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New data from Go.Compare travel insurance has revealed that almost a third (30 per cent) of those buying travel insurance buy their policy on the same day of travel. The figures, which look at travel insurance policies bought by holidaymakers during 2023, found that a third of people bought their travel insurance on the day of travel…
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Higher interest rates could add £29 billion to household energy bills, according to new research published today (Monday) by the Resolution Foundation. The research considers how to fund the major power sector upgrade needed to cope with rising demand for electricity in a decarbonising economy. By 2040, Britain’s homes will consume 45 per cent more electricity…
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Only three in 10 small business owners (30%) predict any form of growth in the next three months – the lowest it has been since the Covid lockdown of January 2021 (26%) according to analysis by Novuna Business Finance. After small business confidence enjoyed a slight peak after Covid restrictions finally fell away by Q2…
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