Credit, Collections & Insolvency News
The Government has announced that the Small Business Protections Bill has been introduced to Parliament, aiming to end the scourge of late payments. The Small Business Protections Bill (formally known as the Commercial Payments Bill) delivers the toughest crackdown on late payments in a generation – putting a clear duty on large firms to pay…
Read more
The Government has announced that it will modernise the Consumer Credit Act (CCA) for the first time in over 50 years, giving consumers clearer information and firms the flexibility to innovate. The Government says that consumers who take out loans, credit cards or overdrafts are expected to benefit from clearer information about costs and key…
Read more
Over half (57%) of Scots have experienced problem debt, new research suggests, underlining the scale of financial pressure facing households as a new Scottish Parliament gets underway. New Censuswide polling commissioned by StepChange Scotland reveals 57% of adults in Scotland have a lived experience of problem debt, with almost two in five (38%) saying they…
Read more
A cleaning boss has been banned as a company director after transferring almost £200,000 out of his insolvent business into his new company. Leicestershire-based Philip Walker was the director of Solus Facilities Limited, a company providing cleaning services for restaurants. However, by April 2023, the company was in financial difficulty and unable to pay its…
Read more