Credit, Collections & Insolvency News
The Vision Blue Group has announced that it has rebranded as The Aryza Group. With a head office in Dublin, Vision Blue will bring together its range of financial services products, under a new brand designed to reflect the breadth of the offering to financial service providers and their customers. Colin Brown, Chief Executive Officer…
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Direct cash support for affected households, a pause on debt enforcement, and urgent support for those who fall behind on their rent and council tax are among the immediate measures needed from Government to support households through the Covid-19 crisis – according to a new call from two of the UK’s largest debt advice charities.…
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HMRC has been urged to immediately pause tax collections to keep businesses liquid. The coronavirus outbreak has created unprecedented uncertainty around the world and now requires unprecedented measures to protect the economy and HMRC should immediately pause tax collections according to Alexander Altmann of Blick Rothenberg. Altman said “Supply and demand are the core principles…
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Further to the Chancellor’s announcement regarding the mortgage industry’s support for homeowners who are experiencing financial issues due to COVID-19, lenders representing banks, building societies and other specialist lenders have come together to announce additional support for homeowners and residential landlords. In a joint announcement UK Finance and the Building Society Association (BSA) said that…
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New emergency measures with the energy industry have been agreed by the government to protect the domestic energy supply of those most in need during the disruption caused by the coronavirus. As part of new measures, customers with pre-payment meters who may not be able to add credit can speak to their supplier about options…
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The government has announced a radical package of measures to protect renters and landlords affected by coronavirus. As a result, no renter in either social or private accommodation will be forced out of their home during this difficult time. Emergency legislation will be taken forward as an urgent priority so that landlords will not be…
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The government has pledged to do “whatever it takes” to support a greater number of British businesses and individuals as the coronavirus outbreak causes major economic disruption. In an announcement Chancellor Rishi Sunak said government would “stand behind businesses small and large”, pledging government-backed and guaranteed loans “to get through this” as he announced the…
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The Financial Conduct Authority (FCA) has published information for firms on Coronavirus (Covid-19) In a statement, The FCA said that it stands ready to take any steps necessary to ensure customers are protected and markets continue to function well. We are working closely with the Government, the Bank of England, the Payment Systems Regulator and…
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The Financial Conduct Authority (FCA) has released its latest research into mortgage switching and how consumers can be encouraged to seek out better deals. The FCA says that they believe there is a case for intervening to help mortgage customers who do not switch. The research found the factors that contribute to the decision not…
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The Spring Budget, and the Bank of England interest rate cut and liquidity support, will provide some direct and indirect support during the uncertain period ahead according to StepChange. The debt charity says that it is almost inevitable that demand for debt advice is set to increase – and that the structural problems exposed by…
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The Bank of England has announced a number of measures to respond to the economic shock from Covid-19. In a statement, the Bank of England’s said that its role is to help UK businesses and households manage through an economic shock that could prove sharp and large, but should be temporary. The Bank’s three policy…
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UK business groups and insolvency experts are again sounding the alarm about Government plans to prioritise repayments to HMRC over repayments to other creditors in insolvencies from 6th April 2020. In a joint statement ahead of the Budget, the groups are warning the new Chancellor that the Government’s proposals will damage access to finance for…
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Salary Finance has completed the acquisition of od Neyber. The acquisition creates the UK’s largest employee financial wellbeing platform. Salary Finance will now serve 500 client partners and reach 3 million employees. The client combined portfolio includes 15% of the FTSE 100 and many household name employers, such as BT, Dixons Carphone, Virgin Active, Co-op,…
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