Credit, Collections & Insolvency News
Credit Connect Media has announced its inaugural 2025 Industry Leaders list. The Leaders list will be supported by an in-person launch at the Spring event series, which includes the Commercial Credit & Collections Conference, Credit & Collections Think Tank and Industry Awards that will follow in the evening. The Industry Leaders list is an annual…
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The annual cost of household bills has risen by £112 on average year-on-year, according to new research by Compare the Market. The research analyses the cost of energy, water, home insurance, motor insurance, and council tax. It reveals that the combined cost of these household bills has risen by 2% on average, compared to 12…
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UK inflation rose more than expected to a 15-month high of 3.5 per cent in April, driven by higher household bills, according to the Office for National Statistics (ONS). The rise was up on March’s 2.6 per cent and also higher than the 3.3 per cent figure predicted by analysts Economists stated the increase was…
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In April 2025, the number of registered company insolvencies in England and Wales was 2,053, 3% higher than in March 2025 (1,996) but 5% lower than April 2024 (2,163) with the construction industry experiencing the highest number of insolvencies in the 12 months to March 2025 at 4,111, making up 17% of all industry cases. James…
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Latest figures from the Insolvency Service have shown that the number of registered business insolvencies in England and Wales increased by 2.9% in April 2025 to a total of 2,053 compared to March 2025’s total of 1,996, and decreased by 5.1% compared to April 2024’s total of 2,163. The business insolvencies consisted of 379 compulsory…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency figures increased by 7.9% in April 2025 to a total of 10,012 compared to March 2025’s total of 9,282, and increased by 4.4% compared to April 2024’s total of 9,586. The personal insolvencies consisted of 589 bankruptcies, 3,837 debt…
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Latest figures from Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland declined by 7% in April 2025. The data showed that there were,there were 101 company insolvencies registered in Scotland, 7% lower than the number in April 2024. The total number of business insolvencies was comprised of 47 CVLs, 51 compulsory liquidations…
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Latest monthly statistics from the Insolvency Service show that in April 2025, personal insolvencies increased while business insolvencies declined in Northern Ireland. The data showed that there were 123 individual insolvencies in Northern Ireland. This was 10% higher than in April 2024. There were 95 IVAs, 16 bankruptcies and 12 DROs. Business insolvency data shows there were 30…
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A new report from PIMFA, UK Finance and KPMG UK has revealed opportunities for how the government can further support the UK’s Private Banking and Wealth Management (PBWM) sector in helping to deliver growth, provided four key barriers can be addressed. This comes at a critical time as the Chancellor prepares her growth and competitiveness strategy…
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Target Group has appointed Jonathan Hole as its new Chief Risk Officer (CRO). Hole brings four decades of experience to Target in credit, market and operational risk, including internal and external audit, compliance and approved regulatory functions. Throughout his career he has held several senior roles within major financial institutions such as Barclays, GE Money…
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A Recruitment consultant has been handed a suspended sentence. after fraudulently using Covid loans for personal purposes after an Insolvency Service investigation. Rico Iheagwara secured two Bounce Back Loans worth £20,000 each from different banks for his Essex-based SJR Recruitment Limited company when businesses were only entitled to a single loan under the scheme. Iheagwara…
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The Government has announced new legislation will see Buy Now Pay Later (BPNL) lenders fully regulated by the Financial Conduct Authority (FCA), meaning firms will be required to conduct affordability checks on consumers before offering loans. The announcement is backed by brand new reforms as part of the new Consumer Credit Act. The new regulation…
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Skipton Building Society has announced that it has appointed Graham Lindsay as the new Senior Independent Director, following the retirement of Mark Lund. Lindsay brings more than 45 years of wide-ranging executive-level experience in retail, wealth and commercial banking, until 2015 all within Lloyds Banking Group. With hands-on experience from frontline to boardroom, he has…
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