Credit, Collections & Insolvency News
Households are experiencing the tightest squeeze on their spending power since the summer of 2014, according to Markit’s Household Finance index. A “sharp and accelerated” squeeze on households’ financial well-being is largely being driven by renewed pressures on the amount of cash available to spend – which has fallen at the fastest pace seen since…
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According to the National Crime Agency’s Strategic Cyber Industry Group, in its Cyber Crime Assessment report 2016, there is “A need for a stronger law enforcement and business partnership to fight cyber crime” In this article, Andrew Sheldon MSc, one of the UK’s leading experts in the field of digital forensics technology and application, explains how the…
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New research from insurer Royal London has found that over £400 billion in wealth being held by Britain’s grandparents is set to cascade down through the generations to the benefit of Millennials in the coming years. Although most of the wealth held by the grandparents’ generation will be passed on initially to their baby boomer…
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New forecasts by economics consultancy the Centre for Economics and Business Research (Cebr) – show that the UK economy will grow by 1.7% in 2017, only marginally behind last year’s 1.8% growth. However, underneath this headline figure, which is bolstered by an improving outlook for exports, is a rapidly deteriorating picture for household finances, with…
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Belfast firm MKB Law has appointed James McIlveen to join its’s debt recovery team as a legal executive. McIlveen will be dealing exclusively with debt recovery and collection matters. McIlveen said: “I have accumulated over 30 years of commercial litigation experience, and was admitted as a member to the Institute of Credit Management in December 2002. I…
Read moreOne in five businesses has been victims to cyber-attacks in the past year, according to the results of a survey released by the British Chambers of Commerce (BCC). The survey of more than 1,200 businesses across the UK found that 20% had been hit by a cyber-attack in the last 12 months. Big businesses are…
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Siemens Financial Services has appointed Paul Walsh as Regional Corporate Director for its Invoice Finance team. Walsh was previously with Bibby Financial Services, where he served as regional corporate sales manager. Prior to that, he spent 25 years at Barclays Bank as regional sales manager. Welcoming Paul to his new post, Ian Cole, head of…
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Shulmans has announced it is strengthening its business recovery and insolvency team with a new appointment and an internal promotion. Lucy Clark, who join the company in 2013, has now been promoted to Associate. Lucy has specific expertise in investigatory work and asset realisation in complex bankruptcies, in addition to extensive knowledge of all matters…
Read moreEDF Energy has announced a rise in its standard variable electricity and gas tariffs. EDF will raise the price of its standard variable dual fuel tariff by 7.2% (£78) in June. EDF Energy CEO Vincent de Rivaz said: “I know that price rises are never welcome, but the industry is facing significant cost increases. To…
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Creditsafe has been granted full Financial Conduct Authority (FCA) authorisation. Paul Beard, Global Commercial Contracts Director at Creditsafe, said: “FCA authorisation demonstrates to current and future clients, particularly large enterprises that Creditsafe’s regulatory and operational infrastructure has met the highest standard demanded by the FCA. It is further evidence of our commitment to deliver excellence…
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The Money Charity has released statistics which show that it would now take 30 years to save for a deposit for a home. Releasing their latest Money Statistics the report finds that historically low saving rates and negligible returns on deposits make home ownership an ever more distant dream for many. If someone on the average…
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Plans by the Labour leader, Jeremy Corbyn, to tackle poor payment practices by big companies against their small suppliers have been welcomed by the Federation of Small Businesses (FSB). In a speech to FSB members today, Mr Corbyn’s proposals included excluding late-paying large firms from public contracts, and to force big businesses being paid by…
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At the end of the first week of the newly competitive water market, thousands of customers have engaged with the market and nearly 9,000 (8,876*) premises have switched water retailer. The figure was revealed by Market Operator Services Limited (MOSL), which operates the market and ensures it runs efficiently and effectively on behalf of the…
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