Credit, Collections & Insolvency News
Business credit check specialist Cocredo has announced that it has launched Dual Report a new company reporting service. Cocredo’s research has found that a growing number of people use multiple reports when credit checking companies to gain a wider understanding of a business. However, it can become very costly and time-consuming logging into different systems and comparing credit reports that…
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The HMRC has increased its spend on private sector debt collectors by 62% in the last year to £39m in 2017, up from £24m in 2016, says UHY Hacker Young, the national accountancy group. UHY Hacker Young says that the steep rise in spending on private sector debt collectors could suggest that HMRC may be…
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Here is an overview of The Money Charity’s latest statistics for May 2018: Personal debt in the UK People in the UK owed £1.584 trillion at the end of April 2018. This is up from £1.53 trillion at the end of April 2017– an extra £1,026.74 per UK adult. Per adult in the UK that’s an average debt of £30,601 in…
Read moreNew data released by Creditsafe’s Prompt Payment Premier League, has revealed Huddersfield Town takes on average 53 days beyond payment terms to pay invoices for its suppliers, the worst of any team from England’s top division. Meanwhile, Brighton & Hove Albion, who like Huddersfield had played their first season in the Premier League, top the rankings,…
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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 by 5% in March, compared with the same month last year, and by 3% in Q1 2018 overall. New finance for business equipment grew in March by 13% compared with the same month…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in March was at a similar level to that reported in March 2017, and grew 6% in Q1 2018 as a whole. Credit card and personal loan new business together grew in March by 7%, compared with the same…
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Dukes Bailiffs has announced that it has consolidated its senior team with the appointment of Sales Director Rob Jackson. Jackson has joined Dukes with 25 years’ experience in the industry and has moved from Capita where he worked for 20 years. Originally part of the set up of Ross & Roberts, where he was a…
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The Bank of England has announced that it has made a decision to keep interest rates at 0.5%. The news will provide respite to debtors as latest figures from Stepchange reveal that Outstanding lending to individuals is £1,584 billion as at end March 2018. With £209.2 billion is outstanding consumer credit (£70.7 billion on credit cards).…
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Court Enforcement Services has now that it has appointed authorised High Court Enforcement Officer, Alan Smith. He will report directly to the Board on all compliance aspects of High Court Enforcement. Smith has significant industry knowledge with over 30 years high level management and operational experience within High Court Enforcement. His previous roles include; High Court…
Read moreResearch from the Federation of Small Businesses (FSB) has highlighted poor payment practices epidemic running through public sector supply chains putting many small firms at risk FSB’s new data, which is part of wider forthcoming research into how the UK can better use supply chains, shows that nine out of ten (89%) public sector suppliers have been paid late. This…
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Credit management specialist, Anglia UK has announced that it has strengthened its senior management team with the appointment of two new directors. Lyn Danaher and Duane Snelling join with more than 20 years’ experience each in the vehicle finance and credit industry. Beginning her career with NatWest, Danaher moved on to work for Deutsche Bank…
Read moreOutsourcing contracts worth £718 million were signed in the UK between January and March, with financial services and retail businesses the most active buyers, according to the Arvato UK Outsourcing Index. The research, compiled by business outsourcing partner Arvato and industry analyst NelsonHall, found that deals worth £363 million were signed in the financial services…
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Regulation is the biggest challenge facing businesses as new legislation impacts on companies according to the latest ICAEW Business Confidence Monitor (BCM). With business confidence moving back into positive territory and to its highest level for two years, staff turnover is also an increasingly growing concern as businesses find it difficult to replace departing workers,…
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