Credit, Collections & Insolvency News
The total number and value of debt judgments in Northern Ireland fell to the lowest levels on record during 2016, according to figures released today by Registry Trust. There were 7,144 small claims judgments in 2016, 15 percent fewer than the previous year. The total value also fell 15 percent; the average value remained unchanged…
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The £15 million supplementary levy imposed on mortgage brokers by the FSCS will hit the best-qualified brokers hardest, says the National Association of Commercial Finance Brokers (NACFB). Rob Lankey, CEO of the NACFB, said “Of course we welcome any move that protects borrowers. The steps we’ve taken to embrace regulation have not been cost-free and our…
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The number of debt decrees registered against Scottish businesses fell to the lowest recorded level during 2016, according to figures released today by Registry Trust. There were 3,523 business decrees in Scotland during 2016, 24 percent fewer than the previous year. The total value surged to £45.8m, the highest on record, but this was due to…
Read moreDespite over half (56%) of UK organisations being affected by fraud, confidence levels in fraud prevention techniques is remarkably high, reveals research from Callcredit Information Group. The Fraud & Risk report of 201 Fraud Prevention Managers and Directors, finds that a majority of businesses (75%) believe they are one step ahead of fraudsters, with a…
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The number of debt judgments recorded in Ireland’s Four Courts fell to a historic low during 2016, according to figures released today by Registry Trust. There were 2,155 judgments registered against consumers in 2016, 38 percent fewer than the previous year and a record low. The total value of consumer debt judgments similarly fell to…
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Aldermore has added two new senior appointments to it’s Asset Finance team. Patrick Jelly joins the Bank as Commercial Director for Asset Finance. Stewart Good joins as Head of Manufacturer and Dealer Services reporting into Jelly. Jelly joins from Pitney Bowes Global Financial Services where he worked for 15 years, latterly as Group Managing Director, Global…
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An overwhelming majority of industry experts believe the UK’s decision to leave the EU will lead to a rise in corporate insolvencies over the next year, according to a new study by R3. A survey of insolvency and restructuring firms also shows that 55 per cent believe their finances “have been hurt” since last June. Insolvency…
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The Association of Alternative Business Finance (AABF) has launched with the major ambition of championing and promoting the best standards of industry practice. The seven founding members, Capify UK, Catalyst Finance, Credit4, Fleximize, Liberis, The Just Loans Group and YesGrowth have clearly defined four operating principles that members will be required to adhere to: Transparency…
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The Chartered Institute of Credit Management (CICM) and the Federation of Small Businesses (FSB) have launched a new guide to support small businesses in managing cash through Brexit. The guide is titled Managing Cash Through Brexit guide to highlight the basic principles of cashflow and credit management to help steer businesses through the current uncertainty. The guide…
Read moreAdministration notices have been issued and advertised in the London Gazette for the following companies: 3D RECYCLING LTD 3SIXTY SYSTEMS LTD ABBEY DELIGHT LTD ABC ALPHA BUSINESS CENTRES UK LTD ABC ALPHA BUSINESS CENTRES VI UK LTD ADDITIVE LTD AGRIGUARD LTD ALBERT & MICHAEL HEATH LTD ALL LEISURE HOLIDAYS LTD AMS RETAIL INTERIORS LTD ANFIELD BRECKSIDE…
Read moreWinding up Petitions have been issued and advertised in the London Gazette for the following companies: ADVANCED WATER AND WASTE LTD AGENCY MOBILE (LONDON) LTD ALBUMCARDS LTD APEX STRUCTURES LTD APPLE SERVICES LTD ARMS SECURITY LTD ART REVIEW LTD ASTRO DEVELOPMENTS LTD BARCAM FACADES LTD BENTON PLANT LTD BRIGHTFIRE CONSTRUCTION GROUP LTD BRITANNIA SECURITY & MAINTENANCE…
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Aman Sehgal has joined Keystone Law from Muckle. Sehgal has more than ten years of experience working on high-profile corporate and personal insolvency cases such as multimillion-pound bankruptcies and fraud investigations. He joined Muckle from Bond Dickinson last year and was tasked with building up the contentious work of the firm’s insolvency practice. However, he…
Read moreEquifax has been appointed by new P2P lending platform Flender to support the underwriting of loans for UK SMEs. Equifax will supply real-time consumer and commercial data so that the underwriting process can be automated and optimised. The data insight, provided via the Equifax Business Insights solution, will give a holistic view of SME loan…
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