Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) has announced new proposals that would enable contactless card payments to exceed £100 and potentially become unlimited under new proposals to allow banks and other providers to set limits. The regulator says that it wants to give card providers the flexibility to decide the right limit for themselves and their…
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New figures released by the Consumer Council for Water (CCW) reveal that complaints escalated to the watchdog by household customers in England and Wales rose for the third year running, up 3% to 8,235 in 2024-25 from 7,977 in 2023-24 – the highest level in nine years. This was despite a more encouraging 8% fall in…
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Latest data from the Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA has shown that the outstanding value of all residential mortgage loans increased by 0.3% from the previous quarter to £1,703.6 billion, and was 2.6% higher than a year earlier. Mortgage Lending and Administration Return (MLAR) data shows that mortgage advances decreased…
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The Civil Court Users Association (CCUA has announced that it has appointed Neil Jinks as its new Chair following an election. Jinks succeeds Rob Thompson who concludes a distinguished five-year tenure as Chair and a long-standing commitment to the CCUA through various committee roles. Lisa Keating of Davisa Solutions has been elected to replace Jinks…
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Later life mortgage lending continues to rise with people over 70 lending increasing by almost 10% according to latest UK Finance data. The data shows that £570 million pounds of lending was to borrowers over 70 up by 9.62%. Meanwhile there were 33,130 new loans advanced to borrowers over 55 in Q2 2025 – up…
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The number of customers falling behind on their electricity bills with no repayment plan in place has more than tripled from 300,000 in 2012 to over one million at the end of 2024, with the number of customers falling behind on their gas bill also tripling from 300,000 to 900,000 over this period according to…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) in July 2025 grew by 3% compared with the same month in 2024. In the seven months to July 2025, new business was 1% higher than in the same period in 2024. The…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew in July 2025 by 1% compared with the same month in 2024. The corresponding value of new business grew by 4% over the same period. In the seven months to July 2025, new business volumes were…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes grew by 15% in July 2025. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in July 2025 by 4% compared with the same month in 2024. In the seven months to July 2025, new business in this market was 5% higher than in the same period in 2024. The credit card and…
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Real-time credit intelligence bureau, Infinian, has announced the appointment of Emma Steeley as its new Chief Executive Officer (CEO). Steeley joins Infinian with deep expertise in growing businesses in the consumer lending and credit industry. Previously Chief Executive Officer of Aro Financial, a leading credit marketplace, for three years, she led its growth and successful…
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In August, the following administration notices were issued and advertised in the London Gazette for the following companies: 29 BUCKLAND CRESCENT MANAGEMENT COMPANY LIMITED 2TECH LIMITED ACE BINDING COMPANY LIMITED ADVENTURE LEISURE VEHICLES LTD AETHEL CARE HOMES LTD ANANAS ANAM UK LIMITED ANTS GROUP LIMITED ARCADY HEIGHTS LIMITED EVERPRESS LIMITED ARGENTEX FOREIGN EXCHANGE LIMITED ARGENTEX…
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In August, Winding Up Petitions (Companies) were issued and advertised in the London Gazette for the following companies: 100% TOP CAR LIMITED 3 SIXTY BODYWORX LTD 346 LTD A & Y FITTING SOUT LIMITED A E WILSON (COMMERCIALS) LTD A TO Z CAR VALETING SERVICES LTD A-SPEC CAR SALES LTD A& D DISTRIBUTION SERVICES LIMITED…
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