Credit, Collections & Insolvency News
Accountancy firm, Wbg has announced that it has acquired the Scottish personal insolvency ‘book’ of accountants and business advisors Azets for an undisclosed sum. Donald McKinnon, Wbg COO, said the deal showcased the firm’s long-standing involvement in the personal insolvency market and commitment to it as a vital part of its rapidly-expanding business. “We’re delighted…
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Chancellor Rachel Reeves has announced the autumn budget for 2024. Commenting on the announcements, Steve Vaid, Chief Executive of the Money Advice Trust, the charity that runs National Debtline, said “There was some good news in this Budget for people struggling with problem debt. Reform of Universal Credit debt deductions is long-overdue, and the Household Support…
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Chancellor Rachel Reeves has announced the autumn budget for 2024. Commenting on the announcements James Burgess, Head of Commercial and insolvency expert at Atradius said “Today’s Autumn Budget could be a game-changer for businesses across the UK, marking a pivotal moment for the economy. With Labour’s proposals set to impact retail, hospitality, and leisure businesses,…
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The number of Welsh companies with overdue invoices on their books reached a 2024 high in September, according to new research from R3, the UK’s insolvency and restructuring trade body. Analysis of data provided by Creditsafe shows that 18,360 Welsh businesses had unpaid invoices on their books last month – the highest monthly total of…
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UK households were seen to be taking on more debt and reducing their saving rates through the end of the summer months in order to afford everyday expenses, indicating a continuing tightening of belts for challenged budgets. Numbers emerging from the third quarter of the year show increasing debt and reduced savings for UK households,…
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Here is an overview of The Money Charity’s latest statistics for October 2024 Personal debt in the UK People in the UK owed £1,864.9 billion at the end of August 2024. The average total debt per household, including mortgages, was £65,665 and per adult was £34,536, around 95.6% of average earnings. Net mortgage lending increased by…
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