Credit, Collections & Insolvency News
Data from Barclaycard has revealed that consumer spending has risen by 3.5%. The data shows that consumers received some respite from a continued drop in petrol prices, which have fallen from an average of 120p per litre at the start of the year to 113p last month. As a result, expenditure on the forecourt increased…
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Figures released by the Finance & Leasing Association (FLA) show that the number of second charge mortgage repossessions in Q2 2017 was 36, 10% lower than in the same quarter in 2016. The annual rate of second charge mortgage repossessions as a percentage of average outstanding agreements at the end of Q2 2017 was 0.06%,…
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The number of debt decrees registered against Scottish businesses reached a record low during the first six months of the year, according to figures released by the Registry Trust. There were 1,198 debt decrees registered against Scottish businesses in the first half of 2017, down a third on the previous year and the lowest on…
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Business Peer to Peer lender ThinCats has announced that the company has been granted full authorisation by the Financial Conduct Authority. The company says that authorisation paves the way to offering a full spectrum of smart investment products, with a number of developments planned including the launch of a ThinCats ISA, subject to obtaining ISA manager…
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There was a small increase in the numbers of decrees for debt against Scottish consumers during the first half of 2017, according to figures released by Registry Trust. In the first six months of 2017, 10,967 debt decrees were registered against consumers in Scotland, a four percent increase on the same period last year. The…
Read moreAmicus Property Finance has announced a record month of lending in July at £72 million. The firm has cited a confident and buoyant short-term property lending market as well as having expanded its offering further across the country with the opening of the Manchester office last year as key factors. July’s record figure covers a regional…
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Late payments are an even bigger challenge for those medium-sized companies, with 94% of businesses employing over 50 people reporting that the issue is causing cashflow problems for them according to new figures from Ultimate Finance. In partnership with BDRC Continental, Ultimate Finance conducted research into the impact of late payments on the SME sector.…
Read moreLendIt Europe, Europe’s fintech and lending conference, and Startupbootcamp FinTech, the leading global FinTech accelerator, have today announced the judging panel for thesecond annual PitchIt Europe competition. Representatives from Venture Capitalists: Seedcamp, Blenheim Chalcot, CommerzVentures, and Balderton Capital will form the judging panel of experienced VCs from and around Europe. Collectively, these four firms are…
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Former Chief Bankruptcy Registrar, Stephen Baister, will join Moon Beever solicitors in November. Baister is a highly-respected figure in the insolvency industry. A former solicitor and insolvency practitioner, he practised as a litigator specialising in insolvency and financial litigation, much of it for German clients. He was appointed as a Bankruptcy Registrar of the High Court in…
Read moreThe Irish Small & Medium Enterprises Association (ISME) Credit Watch latest survey shows that late payment has deteriorated from 59 days to 61 days in Q2. Dublin and Ulster businesses are waiting the longest to be paid. Commenting on the results ISME, CEO Neil McDonnell said “Todays’ results are disappointing. Late payments are a big issue for SMEs;…
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The Competition and Markets Authority (CMA) has announced new support for consumers and small businesses experiencing unexpected banking fees. From today, two important changes come into force to make it easier to know what charges consumers and companies might face. Firstly, the CMA is forcing banks to be more transparent about the cost of overdrafts and…
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Liquidation notices have been issued and advertised in the London Gazette for the following companies: 5 ON THE CORNER LTD A LULLI BUILDING AND DEVELOPMENTS LTD A. AND. C. WINDOWS (ROTHERHAM) LTD A. H. HALES (PLUMBING AND HEATING ENGINEERS) LTD AAGAARD-HANLEY LTD ABEL OF HERTFORD LETTINGS LTD ACCIDENT COMPENSATION ANGELS LTD ADAM SIMMONDS LTD AJ SWORDS…
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Winding up Petitions have been issued and advertised in the London Gazette for the following companies: 34W LTD 360PRECISION LTD 365 (2012) LTD A 2 DELICIOUS LTD A&J WATER TREATMENT LTD AAA DRIVEWISE CONTRACTS LTD AALBORG PLACE LLP AB RESTAURANTS LTD ABEL OF HERTFORD LETTINGS LTD ACORN DEVELOPMENTS (KENDAL) LTD ADASTRA PUB COMPANY LTD ADVANCE EMPLOYABILITY…
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