With the European Council’s decision on 21st March to allow a slight – and conditional – extension to the date that the United Kingdom leaves the EU, the chances of a No Deal Brexit have decreased somewhat. What has not changed is the level of uncertainty as to what will happen, and the implications for…

Amongst the many causes of financial challenges encountered by businesses and retailers in recent years, payment of invoices is one not so often talked about. Unpaid invoices, while often not the primary cause of difficulties faced by businesses and high street retailers, can only compound the array of factors contributing to further financial woes. If…

The FCA’s review’s findings set the scene for changes in the commission model, transparency and affordability, with lenders set to adopt an active role in dealers’ promotion of finance. Addressing the changes required is clear. The FCA has thrown down the gauntlet to lenders and dealers to improve the customer proposition and experience. We see…

The term ‘big data’ has become linked to the stories of exabytes of data being created each day, 90% of the data in the world having been generated in the past two years, and companies collecting and analysing every online move we make. What the term really reflects is that we can now manage, store…

It can be frustrating when you call only to be told that the person you want to talk to is too busy to talk to you. Same goes for when you always get their voicemail. It’s quite a common response from smaller businesses when the person responsible for paying the bills wears more than one…

Fifteen months after open banking launched in the UK, consumer understanding of what it means remains low. In January this year, research showed that just 9% of British adults had used open banking services, and less than a quarter (22%) had even heard of it. In fact, this is only part of the picture. Just because…

As the Evening Standard delicately put it on Wednesday last week, having taken over consumer credit from the “light touch” Office of Fair Trading some five years ago, the Financial Conduct Authority is now firmly in charge and is sinking its teeth into lenders’ backsides. The FCA has shown its teeth several times recently, including…

The last few weeks have seen an unprecedented number of press releases from the Financial Conduct Authority regarding the consumer credit industry. The regulator has good intentions like any worthwhile organisation but its current cosseting approach does the consumer a disservice and is consequently narrowing their availability to responsible, regulated credit. In August 2018, Sky…

Are you uncertain of what to do because a winding-up petition has been filed against your company? A winding-up petition is a legal action put forward by a creditor to the court against a company in order to settle debts. If you fail to prevent a winding-up petition, it could eventually lead to your business…

A notice of enforcement (previously known as a distraint order notice) is a formal document that a creditor can issue to a debtor, giving warning that it is preparing to take action to recover money owed. The notice gives the creditor the power to take control of a debtor company’s goods and sell them at…