Credit, Collections & Insolvency News
Latest figures from the Insolvency Service have shown that the number of registered business insolvencies in England and Wales was 1,966 in November 2024, 13% higher than in October 2024 (1,743) and 12% lower than the same month in the previous year (2,243 in November 2023). The business insolvencies consisted of 254 compulsory liquidations, 1,565…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency figures increased by 12.2% in November 2024 to a total of 10,012 compared to October’s total of 8,924, and increased by 25.5% compared to November 2023’s figure of 7,978. The personal insolvencies consisted of 589 bankruptcies, 3,693 debt relief orders…
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The latest monthly statistics from the Insolvency Service have shown that personal insolvencies rose by 30%, while business insolvencies fell by 47%. The data showed that in November 2024 there were 16 business insolvencies registered in Northern Ireland, 47% lower than in November 2023. The business insolvencies was comprised of three compulsory liquidations, 10 CVLs,…
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Latest figures from Accountant in Bankruptcy (AiB) have shown that business insolvencies increased by 5%. In November 2024, there were 114 business insolvencies registered in Scotland, 5% higher than the number in November 2023. The insolvencies comprised of 55 CVLs, 54 compulsory liquidations and five administrations. There were no CVAs or receivership appointments.
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Outstanding balances on credit card accounts have grown by 6.6 per cent over the twelve months to September and 49.4 per cent of outstanding balances incurred interest compared to 50.1 per cent in September 2023 according to latest card spending date from UK Finance The data showed 2.2 billion debit card transactions in September, 4.5…
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New research by by Sidetrade and PwC France and Maghreb hs found that 80% of companies are investing in Artifical Intelligence (AI) to improve cash flow despite budget cuts. The research revealed a significant shift in investment and renewed boldness within the finance function, driven by a sharpened emphasis in 2024 on cash flow generation…
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Consumer optimism about household finances has fallen, according to data from TransUnion. The latest survey data finds that just 44% of consumers are optimistic about their household finances in the next 12 months, dropping by two percentage points from the previous quarter. This bucks the trend of rising optimism since Q4 2023. With inflation and…
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