Credit, Collections & Insolvency News
The former boss of a West London bakery who overstated his company’s turnover to secure a maximum-value Covid loan has been banned from acting as a director for ten years. Azizullrahman Akbari, obtained a £50,000 Bounce Back Loan just weeks into the pandemic, claiming the turnover for his New Watan Bakery Limited company was more…
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The average annual water bill in England and Wales will rise by 26% or £123 in the next financial year according figures analysed by Water UK. Water companies have committed extra money for investment in infrastructure, such as reservoirs, and more help for struggling customers. To fund these new levels of affordability support and investment,…
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A new report by the Joseph Rowntree Foundation (JRF) has found that more than 1 in 5 people in the UK (21%) were in poverty in 2022/23 – 14.3 million people. Of these, 8.1 million were working-age adults, 4.3 million were children and 1.9 million were pensioners. To put it another way, around 2 in…
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Parents with children below the age of 18 have expressed widespread concern about the country’s economic outlook and its impact on family finances according to new research by Confused.com Life Insurance. The findings shed light on parents’ financial priorities, worries, and hopes for their children’s futures with an overwhelming 78% expressing concern about the UK’s…
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Research amongst 1,500 UK parents with children aged 0-15 years, conducted by 3Gem on behalf of Scottish Friendly, shows six out of 10 (58%) of parents are concerned their child won’t be able to afford to live independently. With over half (55%) worried that the cost of the deposit for a rented accommodation is out…
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