Credit, Collections & Insolvency News
A decorator has been banned and ordered to pay more than £100,000 in compensation after obtaining three Covid loans. The decorator secured three Covid Bounce Back Loans worth a combined £145,000 has been banned as a company director and ordered to pay compensation. Ruxanda Guja claimed £100,000 more than she was entitled to for her…
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New research by Citizens Advice has revealed that 2.6 million people don’t drive because they’re unable to afford the accelerating cost of car insurance. This includes almost 900,000 people who have had to cancel their cover in the last 12 months, in addition to 1.7m people who have already been priced out of the market…
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Latest mortgage lending data from the Bank of England and FCA shows that the value of outstanding mortgage balances with arrears is 18% higher than a year earlier and has risen to £21.9 billion, albeit this has declined by 0.4% compared to the previous quarter. New mortgage arrears cases (as a proportion of total outstanding balances…
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New forecasts from Cornwall Insight have seen price cap predictions rise to £1,762 a year for a typical dual fuel consumer. This would represent a 1% increase from January’s price cap of £1,738 announced in November. Cornwall Insight says that the increase in the cap forecast largely reflects the movement in the wholesale market, where…
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Close Brothers Motor Finance (CBMF) has announced two senior appointments. Clare Bradley, formerly Director of Sales Optimisation (Retail), has been appointed Commercial Director, and Neil Leonard, formerly Head of Marketing, has been appointed Marketing Director. Bradley, who has been with CBMF for six years, has previously held senior sales and commercial roles in various industries,…
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UK business confidence has reached its lowest point in nearly two years, according to the latest Business Trends Report by BDO. The BDO optimism index fell by 5.81 points to 93.49 in November, marking the steepest month-on-month decline since 2021. Firms are grappling with rising costs, reduced customer confidence, and falling orders, leading to a…
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Aryza Group has announced a partnership with TransUnion. The partnership will leverage the strengths of both companies to offer comprehensive credit and debt management solutions across all Aryza platforms and services in the UK and Ireland, whilst keeping consumer well-being at the heart of decision making. The collaboration is designed to address the growing demand…
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