Credit, Collections & Insolvency News
A third (34%) of contract workers, such as gig workers on online platforms and independent contractors, are reliant on credit to pay household bills, almost three times the UK average (13%) according to research by responsible lender Creditspring. With an estimated 1.1 million people having missed the 31st January deadline to file their Self Assessment…
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New data from UK Finance has shown that repossessions were up 12% in Q4 compared to Q3, with more than 1,030 residential properties taken over in the last three months of 2024. On a year-by-year basis, repossessions increased by 54% in Q4. Buy-to-let mortgage repossessions were up 30% year-on-year in Q4. The data also shows…
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Boshhh Group has announced that it has partnered with Yapily to launch a fintech solution with an aim to end irresponsible BNPL lending amid the upcoming FCA affordability clampdown. The new FCA regulations tackling the lack of comprehensive affordability checks in BNPL lending come into effect in 2026 with lenders currently failing the financially vulnerable…
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Personal insolvency provider Carrington Dean has announced that has acquired personal insolvency business, Cleanslate from Interpath. Cleanslate is part of Interpath, an international advisory firm which specialises in the provision of advisory and restructuring services to businesses, their investors and their stakeholders. Carrington Dean is based in Scotland and is part of the Creditfix Group.…
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