Credit, Collections & Insolvency News
Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency figures in July 2024 remained at similar levels to June 2024, but were 24% higher than in July last year at 10,524. The personal insolvencies consisted of 634 bankruptcies, 4,163 debt relief orders (DROs) and 5,727 individual voluntary arrangements (IVAs).…
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Latest figures from the Insolvency Service have shown that there were 2,191 business insolvencies in England & Wales in July 2024, 7.3% lower than in June 2024 (2,363) but 15.9% higher than the same month in the previous year (1,890 in July 2023). The insolvencies consisted of 320 compulsory liquidations, the highest monthly number since…
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The latest monthly statistics from the Insolvency Service have shown that business insolvencies increased by 54% and personal insolvencies increased by 41%. The data shows that in July 2024 there were 20 business insolvencies registered in Northern Ireland, 54%, this was higher than in July 2023. The business insolvencies comprised of 10 CVLs, five compulsory…
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Latest figures from Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland increased by 21% in July 2024. In July 2024 there were 117 business insolvencies registered in Scotland, which was 21% higher than in July 2023. The insolvencies comprised of 76 CVLs, 33 compulsory liquidations and eight administrations. There were no CVAs or receivership…
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Millions of households across the UK will be left in the cold and dark this winter, with energy prices forecast to rise by more than £150 a year according to Fuel Bank Foundation. The Foundation says that households using prepayment meters who are forced to pay upfront for their gas and electricity will be hardest…
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Consumers who are using digital financial management tools report being on average £37.08 better off per month, or £445 better off per year, compared to pre-adoption according to new research released by Tink. The research comes at a time when an estimated three quarters (75%) of consumers surveyed across the UK say they are mindful…
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The number of overdue invoices in Scotland has reached its highest level this year, according to new research from R3, the UK’s insolvency and restructuring trade body. R3’s analysis of data provided by Creditsafe shows that businesses in Scotland had 538,172 unpaid invoices on their books last month – the highest monthly total in 2024…
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