The Competition and Markets Authority (CMA) has published its findings on the price controls for FOUR water companies for 2020-2025. In December 2019, Ofwat published its price controls setting out the total amount water companies can charge for services in 2020-25. In March 2020, Anglian, Bristol, Northumbrian and Yorkshire asked the Competition and Markets Authority…

Research by the National Institute of Economic and Social Research (NIESR) shows there were 220,000 more households living in destitution by the end of last year. The pandemic has helped push the figure up to 421,500 households – with destitution defined as a two-adult household living on less than £100 a week and a single-adult…

Software solutions specialist, Aryza has announced new enhanced functionality for its Debtsense customers. The change will allow financial businesses to review their customers affordability and propose automated changes to their credit limit based on their own rules, that are built into the system. Incorporating technology such as open banking, AI-informed decision making and intuitive customer…

The pandemic is having a significant impact on people’s household finances according to new analysis by TUC. The analysis has found that some consumers will be saving money, due to no longer having to commute or due to discretionary spending being constrained while holidays, meals out and pub visits aren’t possible. Whilsy others will be…

Credit Connect and its support team would like to wish you all a happy and safe holiday season. This has been a year like no other, but as we close the door on 2020, we want to say thank you. We appreciate everything you have done for the credit and collections community this year as we…

New research by Royal London has revealed a startling picture of people’s personal finances during the pandemic. the figures above show, household incomes have fallen while bills have risen, with many people believing that things are going to become even bleaker. The company found that the self-employed have been more acutely affected by Covid-19 than…

Latest figures from the Financial Ombudsman Service (FOS) have indicated that there was a surge in complaints about consumer credit services in the three months to September, with claims management companies said to have driven a big rise in complaints being upheld. FOS says that between July and September 2020, there was a continued increase…

Eight out of ten accountants say that the SMEs they represent are not fully aware of their funding requirements and financial risk over the next six months, according to the latest ACCA UK and The Corporate Finance Network (The CFN) SME Recovery Tracker. The results, from a survey of accountants representing 2,840 businesses across the…

Chancellor, Rishi Sunak has outlined additional government support to provide certainty to businesses and workers impacted by coronavirus across the UK. Delivering a speech in Parliament, the Chancellor announced a package of measures that will continue to protect jobs and help businesses through the uncertain months ahead as we continue to tackle the spread of…

Sue Chapple has succeeded Philip King as Chief Executive of the Chartered Institute of Credit Management, the world’s largest professional credit management organisation. Chapple who joined the CICM as Director of Strategic Relationships in 2018, has been interim CEO since King’s departure to become interim Small Business Commissioner in March. In confirming Chapple in the…

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