Credit, Collections & Insolvency News
Complaints to the Financial Ombudsman Service (FOS) regarding banks and credit card companies surged by 76% year-on-year in H2 2024, accounting for 109,155 out of an overall total of 141,846 complaints. This increase is attributed to a rise in financial scams and fraud. Vanquis Bank topped the list with 17,612 new complaints, followed by credit…
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Gifts and loans from the Bank of Mum & Dad (BOMAD) totalled £9.6 billion in 2024, according to the latest analysis from property firm Savills. The research found that 173,500 first-time buyers received assistance last year, receiving on average £55,572. This equates to just over half (52%) of all first-time buyers, which, although lower than…
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IE Hub, the free online budgeting tool, has announced a new partnership with Healthy Homes Solutions (HHS) to support vulnerable and energy-inefficient households in the UK. This partnership aims to make it easier for anyone feeling vulnerable or households struggling with utility bills to access the resources they need to improve their situation, reduce their…
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The Finance & Leasing Association (FLA) has announced that it has appointed Paul Smee as Group Chair of the FLA Lending Code. Smee has extensive experience in financial services and was most recently Director General of the Council of Mortgage Lenders from 2011 until 2017, when it was absorbed into UK Finance. He previously ran…
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The National Debtline and Business Debtline have provided more free debt advice in 2024 than ever before as cost-of-living pressures continued to hit household finances, according to the Money Advice Trust’s latest Impact Report. The charity’s free, independent debt advice services for individuals and small businesses provided six million minutes of debt advice, with 271,900…
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New research by ThinCats has found that mid-sized companies that borrow are sixteen times more likely to achieve growth than face insolvency. The data found that companies that borrowed were more likely to achieve growth than non-borrowers, with the level of borrowing proportional to growth potential. Nearly 40% of mid-market SMEs have achieved revenue growth…
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In April, the following administration notices were issued and advertised in the London Gazette for the following companies: 79TH LEISURE TWO DEVELOPMENT LIMITED 79TH LEISURE TWO MANAGEMENT LIMITED 79TH LUXURY LIVING LIMITED 79TH LUXURY LIVING ONE LTD 79TH LUXURY LIVING SIX LTD AEC INDEPENDENT LTD AMHERST HOMES LTD AMP 75 LIMITED ARIES LIMITED ARROW FILM…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in April: 05CREATIVE LIMITED 06449000 LTD 124APPS LIMITED 1ST STEPS DAY CARE LTD 20:09:11 LTD 3RD RAIL LIMITED 3RD SECTOR ESTATES LIMITED 4 IN 1 EXPRESS TAKEAWAY LTD 4 SEASONS CAR WASH (NE) LIMITED 48.3 SCAFFOLD…
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In April, Winding Up Petitions (Companies) were issued and advertised in the London Gazette for the following companies: 13389688 LTD 18-19 BUCKINGHAM GATE INVESTMENTS LIMITED 31 MEDIA LIMITED 345 – VQ UK LIMITED 3ACES LIMITED 777 SECURITY LTD A & L PRECISION ENGINEERING LIMITED A & M PROFESSIONAL LTD A & S PROPERTY DEVELOPMENT LTD…
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