Credit, Collections & Insolvency News
School leavers are opting for alternative routes to a career and are choosing not to go to University according to new research. As businesses continue to offer a wider range of apprenticeships, and students have the option to learn on the job, fewer are opting to go to University in favour of other career paths…
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Bibby Financial Services (BFS) has appointed Paul Stack as Commercial Director for Europe and Asia. Stack will oversee product, pricing and commercial strategy implementation across the regions, reporting into Richard Carter, CEO for Europe and Asia. Stack joined BFS in April 2015 as UK Product Director, tasked with driving the development, management and innovation of…
Read moreThe Office for National Statistics has today published its latest UK consumer price inflation figures. The figures show the Consumer Prices Index was at 2.5 percent in July 2018, up from 2.4 percent in June 2018, the first rise since November 2017. Figures also published today show that regulated rail fares are also likely to…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) fell in June by 3% compared with the same month in 2017, but grew by 5% in the second quarter of 2018 as a whole. The commercial vehicle finance and IT equipment finance sectors…
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Here is an overview of The Money Charity’s latest statistics for August 2018: Personal debt in the UK People in the UK owed £1.592 trillion at the end of June 2018. This is up from £1.545 trillion at the end of June 2017– an extra £900.74 per UK adult. Per adult in the UK that’s an average debt of…
Read moreA new study from Dun & Bradstreet has revealed that while finance leaders remain tasked with business profitability, their remit has expanded to include the sharing of data across the organisation and management of risk. The Risk Revolution report found the top challenge for finance leaders today is monitoring risks within a business’ customer, supplier, or partner…
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Fraud prevention service, Cifas has released new figures showing that identity fraud has fallen for the first time since 2014. Cifas members recorded 84,463 cases in the first six months of the year, a 5% drop compared to the same period in 2017 (89,199). Despite the reduction, identity fraud still represents over half of all…
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The finalists for Credit Connect’s second annual Credit & Collections Technology Awards 2018, the UK’s celebration of tech innovators in credit and collections, have been revealed. The Credit & Collections Technology Awards, organised by Credit Connect, brings together credit and collections technology executives to honour the industry’s leading players across 18 categories. The Technology focused-Awards scheme seeks…
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A new report by Which? has revealed how the broken deposit system is placing financial pressure on renters, with some tenants facing weeks to get their money returned or having to challenge charges that they feel are unreasonable. The consumer champion’s findings reveal that two in five (43%) renters that faced moving costs used a…
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UHY Hacker Young has announced the expansion of its Manchester office by welcoming a new partner to its leadership team. Tracey Pye has been appointed turnaround and recovery partner. Pye has run her own consultancy and was previously a business restructuring partner at Top 10 accountancy firm BDO LLP. Pye specialises in corporate restructuring and insolvency.…
Read moreThe Office for National Statistics (ONS) has released its latest Quarterly Gross Domestic Product (GDP) figures with first estimates suggesting that the economy grew by 0.4% quarter on quarter in April to June (equivalent to a 1.3% year-on-year increase). Commenting on the results Markus Kuger, Senior Economist at Dun & Bradstreet said “Today’s data release is…
Read moreLatest figures released by UK Finance has shown that mortgage arrears and possessions are continuing to decline. The figures indicate that there were 76,740 homeowner mortgages in arrears of 2.5 per cent or more of the outstanding balance in the second quarter of 2018, 8 per cent fewer than in the same quarter of the…
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A new study from LV has revealed that people in their early thirties are putting off life milestones such as having children or buying a home, due to being one of the least financially resilient groups in the UK. A quarter (24%) of the 30-35-year-olds in the study, of which there are 4.7 million in the…
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