Credit, Collections & Insolvency News
Latest data has found that credit card spending rose 4.2% from May to June 2024, with teh average balance standing at an average of £840 which is 0.1% higher than June 2023 according to FICO’s latest credit card report for June 2024. The data showed that May 2024 saw quite significant month-on-month increases in late…
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The latest GfK Consumer Confidence Index reveals a decline in expectations for Britain’s economy, marking the first drop in six months. The index fell four points to minus 15 in August, reflecting concerns about the economic outlook. However, optimism regarding personal finances has risen, with a three-point increase to plus six, attributed to recent mortgage…
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Energy regulator Ofgem has announced that, from the 1st October 2024, the price cap will increase by £149 to £1,717, an increase of 10% from the previous price cap which was £1,568. The price cap which sets a maximum rate per unit and standing charge that can be billed to customers for their energy use,…
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A London taxi driver hit with 11-year sanctions after falsely claiming £100,000 of Bounce Back Loans and failed to spend the money on his businesses. The investigation found that Ahmad claimed £50,000 for his delivery business in July 2020, the maximum allowed under the scheme. He applied for a second £50,000 loan – this time…
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Nationwide has announced the appointment of James Briffitt as its new Head of Intermediary Sales and New Build. As part of this newly created position, Briffitt will be responsible for leading Nationwide’s intermediary sales teams and driving forward its new-build activity. He will report into Nationwide’s Director of Intermediary Relationships, Ian Andrew. Briffitt has extensive…
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