Credit, Collections & Insolvency News
New research commissioned by Co-op Legal Services reveals millions of married people may want to file for divorce but feel that their current circumstances are preventing them from taking this step. Survey findings from the member-owned organisation show that almost three-fifths (59%) of married individuals who have considered divorce feel they can’t end their marriage…
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The UK economy unexpectedly grew at the end of last year, despite the Bank of England predicting last week it would be in recession territory. But GDP per capita – which closely tracks disposable income growth – is still lower today than it was before the pandemic, the Resolution Foundation. Having grown by 1.1 per…
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The UK economy grew by 0.1% in the final months of 2024 according to the Office for National Statistics (ONS). The data showed growth in the quarter was driven by a range of industries, from pubs and bars to machinery manufacturers, having a strong December. Responding to the figures, ONS Director of Economic Statistics Liz…
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Latest data from the Ministry of Justice, fro Quarter 4 (Q4) has shown that mortgage claims, orders, warrants and repossessions increased. Compared to the same quarter in 2023 there were increases in mortgage possession claims from 4,385 to 6,080 (39%), orders from 2,697 to 4,178 (55%), warrants from 2,240 to 3,305 (48%) and repossessions by…
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The Insolvency Service has sanctioned a former owner of takeaway over a claimed £50,000 Covid loan for a business which was not eligible for any money. Zhongqing Li from Gillingham, applied for the loan in June 2020 to support his Silver Sea takeaway, which also traded from Parkwood Green. Li made a loan application on…
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