Credit, Collections & Insolvency News
The IoD Directors’ Economic Confidence Index, which measures business leader optimism over prospects for the UK economy, fell to its lowest ever reading of -76 in March 2026, from -63 in February. Business leaders’ confidence in their own organisations also fell, to -2 in March from +1 in February. Underlying indicators also largely worsened with…
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New survey results from UKHospitality, the British Beer and Pub Association, the British Institute of Innkeeping and Hospitality Ulster reveal the damaging impact another year of significant cost increases will have on hospitality businesses. As a direct result of April cost increases, businesses will cut jobs (64%), cancel investment plans (51%) and reduce trading hours (42%). Around one in seven venues (15%)…
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Haboo Money, the adaptive engagement layer for consumer credit, has announced a partnership with Transave Credit Union. The partnership is designed to modernise how credit unions engage with members by introducing a more flexible digital experience that better reflects the realities of modern borrowing. The partnership is focused on creating a more personalised and supportive…
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Consumer debt recovery fintech, InDebted has announced the appointment of Rob Young as its UK Managing Director. Young will lead InDebted’s UK operations, he brings over two decades of leadership experience across fintech, credit, and technology-led financial services, including senior roles at Wonga and OnDeck, where he led international expansion across the UK, Canada, and…
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The Financial Conduct Authority (FCA) has announced a £9.1 billion motor finance redress scheme, a significant reduction from earlier estimates of £11 billion. The number of qualifying agreements has decreased from 14.2 million to 12.1 million, leading to lower overall costs. Millions of motor finance customers will receive compensation this year under a Financial Conduct Authority (FCA)…
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Latest Bank of England data has shown that net borrowing of mortgage debt by individuals increased to £4.8 billion in February, from £4.2 billion in January. The rise in February is also above the previous six-month average of £4.5 billion. The data also shows that net mortgage approvals for house purchases increased to 62,600 in…
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Business confidence rose 11 points to 55% in March, driven mainly by smaller firms, according to the latest Lloyds Business Barometer. The survey, conducted from March 2nd-16th, showed that over 90% of responses came in the first week, before the potential impact of Middle Eastern conflict affected smaller businesses. Larger firms exhibited less optimism, reflecting…
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A businessman living in Spain, instead of serving a prison sentence for contempt of court, has been banned as a company director. Jack Mason was the director of eight companies linked to his associates Scott Dylan and David Antrobus, who are currently serving lengthy disqualifications for unauthorised banking transactions worth almost £14 million. Mason failed…
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London is the only major city in Britain where household financial health is worsening, according to new research by Lowell. While financial pressure is beginning to ease across much of the country, London is not sharing in the recovery. Households in London are using up their savings: London is the only major city where emergency…
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The High Court Enforcement Officers Association (HCEOA) has welcomed the laying before parliament of new Taking Control of Goods (Miscellaneous Amendments) Regulations 2026. The statutory instrument laid before parliament covers updates to the Taking Control of Goods Regulations 2013 and the Taking Control of Goods (Fees) Regulations 2014 as part of Government’s balanced package of…
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UK Finance has launched a new Accessible Cards Code of Practice, designed to help customers with accessibility needs or impaired vision use payment cards in-store and online. The Code means the UK is the first country in the world to have national common accessibility guidelines for flat printed payment cards. The new guidelines cover physical…
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GfK’s index of household sentiment dropped to minus 21 in March from minus 19 in the previous month. This is the weakest reading since April last year. The data showed that the decline was driven by a six-point drop to minus 37 in expectations for the UK economy over the coming year. There was also a six-point…
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The Bank of England and Prudential Regulation Authority (PRA) have finalised a package of changes to firms’ resolution reporting and disclosure requirements which reduces the burden of regulation while maintaining a robust and credible regime that supports growth and competition. The UK’s resolution regime is designed to ensure that banks can fail safely, without disruption…
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