Credit, Collections & Insolvency News
Households with unsecured debts (like credit cards and loans) spend an average of £216 a month to repay them according to new research by Hargreaves Lansdown Savings & Resilience Barometer. The research showed that in debt hotspots, almost 20% of income is being spent on repaying unsecured debts. Excluding student loans and mortgages, borrowers owe…
Read more
The IoD Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, edged up to -59 in January 2025 from -61 in December. However, confidence remains at historically depressed levels. Business leader confidence in their own organisations declined to +6 in January, from +8 in December. There was also a…
Read more
The Finance & Leasing Association (FLA) has responded to the call for input on modernising the redress system, highlighting concerns about the Financial Ombudsman Service (FOS). The FLA says that FOS has evolved away from the type of alternative dispute resolution body that Parliament originally intended it to be. While it still has a remit…
Read more
British businesses increased pessimism in January, marking five consecutive months of declining corporate confidence according to the Lloyds Bank Business Barometer.The Barometer fell by two points to 37%, its lowest level in a year, following a £25 billion tax increase announced in October. Despite the dip, confidence is still above the long-term average of 29%. In previous…
Read more
Property development finance company CrowdProperty has announced it has appointed Steve Deutsch as its new Chief Executive Officer (CEO), subject to FCA approval. Deutsch succeeds Mike Bristow, co-founder and CEO since 2018, who will be stepping down to take a sabbatical. Deutsch brings a wealth of senior-level experience, having operated at Board level within financial…
Read more