Credit, Collections & Insolvency News
New research from Premium Credit has shown that late payment issues are easing for SMEs but still remain a concern. Its Insurance Index, which monitors insurance buying and how it is financed, found one in five (20%) of firms reporting a growing problem with late payment of bills with 5% warning the issue has become…
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Inflation has hit the Bank of England’s (BoE) target for the first time in almost three years. Prices rose at two per cent in the year to May, down from 2.3 per cent the month before, according to the Office for National Statistics (ONS)/ The figures follow a sustained period of high inflation in the…
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It’s ten years since Taking Control of Goods Regulations came into force. The regulations are used to define and measure the work of enforcement firms, but they are basic and no longer reflect modern enforcement practices. So what more is needed? The industry has been on a path of reform since the review of civil…
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Unsecured household debt is set to rise by over £1,600 this year as families continue to struggle with the cost of living crisis, according to new TUC analysis. The analysis shows that unsecured debt (loans, credit cards, purchase hire agreements) is on course to increase by 9.4% (£1,660) in real terms, on average, per household…
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Half of HMO (house in multiple occupation) landlords in a survey by buy-to-let lender Landbay have said they use their property or portfolio as their sole source of income. Just under 30% of landlords who took part in the survey owned an HMO property or portfolio. 72% of these landlords owned HMO properties through a…
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High interest rates and unaffordable deposits are pricing many Europeans out of buying their first home, whilst expensive rents put further pressure on non-homeowners according to research by Adevinta. As economic indicators – such as the European Central Bank interest rate cut in June – point to an improving Eurozone economy, greater affordability will be…
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Latest data published by the Department for Levelling Up, Housing and Communities (DLUHC) show outstanding council tax arrears have reached a total of £6 billion as of 31stMarch 2024, a 9% year-on-year rise and an 71% increase since before the pandemic – the total outstanding arrears stood at £3.5 billion in 2019 to 2020. Over…
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More than half (57%) of banking executives surveyed across the UK say that attracting young consumers is one of the biggest challenges they are facing in the next twelve months, according to new research released by Tink. An estimated two thirds (67%) say it is a vital part of future proofing their business, with 50%…
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