Credit, Collections & Insolvency News
New research from Trust Payments has found that missed payments in the consumer credit and collections sector are not solely a question of customer willingness, with industry professionals also pointing to administrative errors, limited payment options and communication failures as contributing factors. The findings come as millions of UK consumers continue to experience difficulty meeting…
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Gross lending to small and medium-sized businesses (SMEs) hit £5.35 billion in the second quarter of this year, its highest level since the pandemic, UK Finance’s latest Business Finance Review found. SME lending has shown growth for two and a half years, with gross lending more than 26 per cent higher than in the same…
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The Financial Conduct Authority (FCA) has issued a fresh warning to people in need of debt advice about the importance of seeking free, impartial and trustworthy advice. The Regulator has identified several red flags to look out for to ensure consumers are dealing with properly regulated and legitimate debt advice providers. The red flags include:…
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Yorkshire Building Society has announced the appointment of James Mack as its new Chief Financial Officer and Executive Director, subject to regulatory approval. With over 20 years’ experience in financial services, he is currently Chief Executive Officer at John Lewis Money and previously held the role of Chief Financial Officer at Barclays UK and Aldermore,…
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A new survey by credit card brand Aqua has revealed that almost two in five people (38.8%) typically run out of money before their next payday. Almost a quarter of people (23%) worry every day about having enough money till payday, highlighting the financial pressures many households may face when trying to make their income…
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