Credit, Collections & Insolvency News
The boss of a glazing firm who fraudulently applied for two Covid Bounce Back loans and spent significant sums on gambling and crypto investments has received a sentence of 22 months in custody, suspended for two years. Just months into the pandemic, Haralombos Ioannou secured two maximum-value £50,000 Bounce Back Loans when businesses were only…
Read more
Business confidence sank to its lowest level in three years as record high tax worries ravaged firms ahead of next month’s Budget, according to research by ICAEW’s Business Confidence Monitor (BCM) quarterly index. Sentiment in Q3 stood at -7.3, down from -4.2 in the previous quarter. Confidence is now at its weakest level since Q4…
Read more
Financial advisory firm, Begbies Traynor, has announced that it has appointed Thomas McKay as Managing Partner in Scotland and Northern Ireland as part of its new board structure to enable further UK expansion. The updated structure also sees Mark Fry named Begbies Traynor Group CEO. In his new role Fry will drive the day-to-day leadership…
Read more
A joint study from credit management company Lowell and free debt advice provider Money Wellness has found that almost two-thirds (64.22%) of debt advice circulating on TikTok, Facebook, and Reddit is misleading, while an overwhelming 98.27% is unreliable. With over 10.1 million people in the UK currently over-indebted (FCA Credit & Loans survey), many turn…
Read more