Credit, Collections & Insolvency News
Over two million Britons are reportedly in debt to illegal lenders, a rise of 500,000 since 2022, according to the Centre for Social Justice (CSJ). Britain is facing a growing illegal lending crisis as record numbers of cash-strapped households turn to loan sharks to cover everyday living costs. The number of people borrowing from unscrupulous…
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A new report released has revealed that significant strides are being made to improve the accuracy of the Companies House register and disrupt economic crime. The report is the latest part of the implementation of the Economic Crime and Corporate Transparency Act 2023 (ECCT Act), which brings about the most significant reforms to UK company…
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Lending to small and medium-sized enterprises (SMEs) rose 16 per cent year-on-year to £5.3 billion in the first quarter of 2026, according to UK Finance’s Business Finance Review. This was the highest level of SME lending since 2021 and demonstrates both strong demand for SME finance and the continued role of high street bank lenders…
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National UK law firm Flint Bishop has announced it has appointed banking and finance litigation specialist Zarvin Vandrewala as Partner and joint Head of Finance Dispute Resolution Vandrewala joins from Aberdein Considine, where he was a Partner advising financial services clients on a wide spectrum of contentious matters. He brings more than 14 years’ experience…
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With the 2026 World Cup kicking off, new research from Lowell shows that 43% of all gamblers increase their betting activity during major sporting events or tournaments. This rises to 50.6% among sports bettors specifically, with levels climbing to as high as two-thirds in certain cities. Gambling can significantly impact personal finances, with many bettors dipping…
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Opus Restructuring and Insolvency has announced that it has appointed Rob McIlroy as Director. McIlroy has more than 15 years’ experience in restructuring and insolvency; he has worked across a broad range of sectors, including construction, media and professional services, advising businesses, lenders, directors and stakeholders through financially challenging situations. His career has spanned both…
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Administrators have been appointed to lending platform Amplifi Capital. Amplifi, via the Reevo Money brand, offered unsecured personal loans. Amplifi also supported Credit Unions through the provision of customer loan origination and servicing activities. This was performed through the My Community Finance brand, which operated as an authorised credit broker. Customers were also introduced to…
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4.7 million businesses will be required to submit additional financial data to Companies House under major transparency reforms confirmed by the Government. From April 2028, small companies and micro-entities will be required to file profit and loss accounts with Companies House under changes introduced through the Economic Crime and Corporate Transparency Act. The reforms are…
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UK Finance has announced the start of an expanded pilot programme, delivered in partnership with Shelter, the housing and homelessness charity, to improve access to banking services for people who may face barriers to opening a bank account. Helping people who don’t have the standard ID or proof of address required to open an account…
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Football fans are being urged to think twice before acting on financial tips shared over social occasions like the World Cup this summer, as research shares how widespread informal money tips have become. The warning comes as a study of 2,000 adults by Skipton Building Society found that nearly one in seven (15%) have been given financial…
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Finance & Leasing Association (FLA) Chief Executive Shanika Amarasekara MBE has called for greater recognition of commercial finance as a critical driver of UK economic growth, arguing that the investment decisions made by businesses across the country are the driving force behind productivity, job creation and economic expansion. Speaking to industry leaders, she highlighted the…
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Opus Restructuring and Insolvency has announced that it has strengthened its advisory and insolvency offering with the appointment of experienced partner Simon Campbell, as the firm continues to expand its South Coast presence. Based in Southampton, Campbell brings more than 30 years of experience advising businesses, lenders and stakeholders across a wide range of sectors.…
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Debt purchase and credit management specialist Lantern Group has announced that it has secured an enhanced funding facility with its lending partners. The new £135 million facility, which increases the Group’s borrowing capacity and extends maturity, will support Lantern’s strategic growth plan and reinforce its competitive position. The Debt & Capital Advisory team at Interpath…
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