Credit, Collections & Insolvency News
Following the announcement of Thursday’s UK General Election the credit industry has been responding to the result. Paul Marston, Managing Director of RateSetter Commercial Finance, said “Without doubt, a hung Parliament is the worst outcome for the business community. While politicians vie for position over the next few days, a shadow of uncertainty forms, meaning…
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UK household spending has fallen for the first time since 2013. Kevin Jenkins, UK & Ireland Managing Director at Visa said “Consumer spending fell for the first time in nearly four years in May, following some marked slowdowns in growth since the beginning of the year. Our Index clearly shows that with rising prices and stalling…
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New figures released today by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 5% in April, compared with the same month last year. The plant and machinery finance sector reported new business up in April by 9%, while new finance for business cars grew…
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New figures released today by the Finance & Leasing Association (FLA) show that new business in the point of sale (POS) consumer new car finance market fell 19% by value and 28% by volume in April, compared with the same month in 2016. This mirrored a reduction in private new car sales in April which…
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One out of every 10 Irish borrowers is in some form of arrears on their mortgage. A total of 76,400 mortgages on homes were in arrears in the first three months of this year, new Central Bank of Ireland figures show. Of the total in arrears, almost 34,000 mortgage accounts are more than two years…
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Two-thirds (63 percent) of UK businesses believe that their organisation is highly protected from attempts by outsiders to gain access to their systems and data, according to a survey by Willis Towers Watson. A similar proportion of organisations (66 percent) maintain that they have the right processes in place to adequately react to privacy and…
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Liquidation notices have been issued and advertised in the London Gazette for the following companies: 483 NCR LTD 75 PIZZA PRONTO LTD A6 DEVELOPMENTS LTD ABACUS TW LTD AFLAH SHAKES LTD AJM ELECTRICAL & SECURITY SOLUTIONS LTD AJP BUILDING & ROOFING SERVICES LTD ALBION SCRAP METALS LTD ALLANS NEWCASTLE LTD ALPHA EARTHWORKS LTD ALXAS LTD AMBAR…
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Winding up Petitions have been issued and advertised in the London Gazette for the following companies: 3NT CONSULTING LTD 784 LTD A & S PUBS LTD A.C.H.G. PROPERTIES A.P. LOOK BUILDING AND MAINTENANCE LTD AAA DRIVEWISE CONTRACTS LTD ABELARDUS LTD ABERSWIFT DE LEADING SPECIALISTS LTD ABH CONTRACTS (UK) LTD ACE GARAGE LTD ACQUIRO LTD ACQUISITION 395448999…
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Administration notices have been issued and advertised in the London Gazette for the following companies: AB INTERNET LTD ADAM DALGLEISH ENGINEERING LTD ADVANCED ANALYSIS AND INTEGRATION LTD AEGIS ENVIRONMENTAL SOLUTIONS LTD AHOY DIGITAL LTD ANCOA SOFTWARE LTD BILL PLANT LTD BIO GREEN ENERGY LTD BLUE CANNON LTD C & J HEATING & PLUMBING LTD C &…
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Research from R3 suggests that 80,000 (4%) of business would struggle to manage a rise in interest rates of 0.25%. The research, part of a long-running survey of business distress by R3 and BDRC Continental, also found that 96,000 firms (5%) were just paying interest on their debts. Speaking on behalf of R3 Andrew Tate…
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ThinCats, has announced the appointment of Samantha Gray as General Counsel. Gray has a strong legal background and over 16 years’ experience in the profession. Her impressive legal history includes working as Partner at Langley Solicitors LLP and heading up their Finance Law Unit which covered financial services, banking, insolvency and restructuring matters. Damon Walford…
Read moreAndrew Wilson & Co have promoted Joe Hanlon to company Director. Hanlon, who started his career within the industry 11 years ago is also in the final stages of qualifying as a High Court Enforcement Officer (HCEO). Aged 29 Hanlon will be one of the youngest authorised officers in the country. He is now fulfilling…
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Almost half (48%) of SMEs felt that British businesses are missing out on opportunities because of a reluctance to borrow, and 45% believe that the economy is being stifled because they won’t borrow. Yet, almost a third (27%) of those SMEs are holding back the growth of their own business, due to a ‘fear of funding’,…
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