Credit, Collections & Insolvency News
The Insolvency Service has returned £42.7 million to creditors and the wider economy in 2025-26 while increasing enforcement action against rogue directors and supporting thousands of people facing financial hardship, according to its Annual Report and Accounts. The report shows the agency handled 11,668 insolvency cases, processed 70,633 redundancy payments, and approved 48,344 Debt Relief…
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The Government’s Financial Inclusion Strategy is a welcome first step, but it is not a complete plan to tackle financial exclusion according to a new Treasury Committee report. The strategy fails to show: Who is excluded, Where exclusion is concentrated, Which services and products are people excluded from and Why are they excluded. Without this information,…
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Consumer card spending grew by 1.9% year-on-year in June, a marked improvement on May’s 0.8 per cent growth, but below the latest CPIH inflation rate of 3.0%. Non-essential spending increased 1.7%, while growth in essential spending reached a 14-month high, up 2.2%. The uplift was driven by a combination of stabilising consumer confidence, warm and…
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The Buy Now, Pay Later (BNPL) sector will come under the regulation of the Financial Conduct Authority (FCA) from today (Wednesday 15th July), seeing the launch of stronger protections in place for consumers. New YouGov polling commissioned by StepChange reveals the increasing popularity of BNPL products, but raises the concern that many are using it…
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The UK’s fraud prevention service, Cifas, has announced a major partnership with the Global Signal Exchange (GSE) to strengthen the global fight against a threat estimated to cost the global economy $579.4bn (over £433bn) in 2025. Together, Cifas and the GSE, will work to identify, disrupt, and prevent online scams at scale across borders and…
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