Credit, Collections & Insolvency News
Latest data from Hargreaves Lansdown has found that households with unsecured debts (like credit cards and loans) spend an average of £259 a month on them. Bank of England showed that the annual growth rate for all consumer credit was 8.1% and for credit cards it was 12.1% – the highest since January 2024. In…
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A new report on the DWP, the Public Accounts Committee (PAC) is calling out the unacceptable waits some people face for their Personal Independent Payment (PIP) to be processed, which can cause them to get into debt and push them into poverty. The report cites examples of people waiting over a year for their PIP…
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Afin Bank has announced it has appointed two new Senior Business Development Managers (BDMs) as the specialist lender focusses on growing its sales team in 2026. Debbie Lavender joins Afin from PWM (Partners Wealth Management), where she was a specialist mortgage broker, and will look after the Midlands and the North. John Smith joins from…
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New research by Nationwide suggests 2026 will be a year for leisure and travel spending, despite more than half (54%) being concerned about the rising cost of living. Longer holiday and shorter breaks, festivals, concerts, experiences and wellness dominate the wish lists of more than four in ten (41%) consumers determined to treat themselves this…
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On the first Monday of the year, (5th January, 2026), StepChange Debt Charity had its busiest day in more than a year, as 800 clients went through debt advice, which is higher than any day in 2025. The charity has also seen nearly 100,000 people visit its website since the start of 2026. Almost 4,000…
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Financial confusion and overwhelm are quietly draining the wallets of millions of people, costing them hundreds of pounds annually. On average, people lost over £640 in the past year alone because they delayed major financial decisions, according to new research from financial education charity Money Ready. Left unchecked, these annual losses can add up: over £3,000…
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Hampshire Trust Bank (HTB) has announced it has promoted Barry Ireland and Wes Baker to Regional Account Director roles. During 2025, both played a key role in supporting brokers through increasingly complex transactions, as deal structures became more involved and expectations around clarity and delivery continued to rise. That experience has been particularly relevant as brokers…
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Latest analysis by BDO of retail sales showed that December marked the worst set of total monthly sales figures since November 2024, with total like-for-like retail sales dropping by -1.4% in December. In-store sales fell by -0.5% and online sales by -0.6%, compared to December 2024, as sales volumes declined across channels. This follows disappointing…
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The Resolution Foundation has warned that 2026 could be a turning point for UK productivity, but expects short-term pain from the collapse of struggling ‘zombie’ firms. Rising interest rates, energy costs, and higher minimum wages are likely to force inefficient businesses to exit the market, creating opportunities for more productive replacements. The Foundation says that…
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In December, the following administration notices were issued and advertised in the London Gazette for the following companies: 10 DENHAM STREET LLP 10 DENHAM STREET PROPERTY MANAGEMENT LIMITED 11 POPES LANE LLP 11 POPES LANE PROPERTY MANAGEMENT LIMITED 30 BRUTON STREET RETAIL LTD A P M G LIMITED ALL DAY RECRUITMENT LIMITED ANGOLO A SUD…
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In December, Winding Up Petitions (Companies) were issued and advertised in the London Gazette for the following companies: 13109114 LTD 1ST CHOICE ANIMALS LIMITED 3 DOT HERTS LIMITED 59 EDGWARE ROAD LTD AAGRAH FOODS LIMITED ACCTURA SERVICES LTD ADELINERECRUITS LTD ADH PORSCHE LTD AG CONSTRUCTION (HILTON) LTD AGCI LTD AIFILIA LTD ALBURY HILLS LTD ALFRESCO…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in December: 03948266 LIMITED 13TH DAY FILMS LIMITED 1ST CHOICE ANIMALS LIMITED 1ST UK CHOICE LIMITED 20 DSL LIMITED 2036 MINT LANE LINCOLN (LEASECO) LIMITED 247 MEDIA GROUP LIMITED 3`S A CROWD BREWING LTD 3M &…
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The Financial Conduct Authority (FCA) has announced that it has fined two former finance directors for their part in misleading statements being issued by Carillion plc. Richard Adam and Zafar Khan were both aware of serious financial troubles in Carillion’s UK construction business but failed to reflect this in company announcements or alert the board…
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