Credit, Collections & Insolvency News
UK retail sales fell sharply over Easter as concerns over the Iran conflict weakened consumer confidence according to data from the Confederation of British (CBI) Industry which showed its retail index dropped to minus 68 in April, the lowest level since records began in 1983. Most retailers reported declining sales and expect conditions to worsen…
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Awareness of specialist business finance among UK SMEs is on the rise as new search data from Semrush has revealed an increase in online demand for tailored funding solutions such as Asset Finance and Invoice Finance. The latest figures show that searches related to specialist finance have increased over the past 12 months, with Asset…
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Late payment pressures intensified for businesses in the first quarter of 2026, with a growing number of companies carrying overdue invoices on their books, according to a new report from R3, the UK’s trade body for restructuring, turnaround and insolvency professionals. The report shows that the number of overdue invoices rose to 17.48 million, up…
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New research from debt management firm Lowell has revealed that on average, it takes families until mid-April (3.8 months) to clear their festive debt. The survey found that 74% of UK families relied on credit cards and Buy-Now-Pay-Later schemes to help cover the cost of Christmas. While some families have the luxury of being able…
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The Financial Conduct Authority (FCA) has led international action to stop illegal finfluencers putting consumers’ money at risk. Seventeen regulators worldwide took part in the ‘week of action’, which included enforcement activity, consumer awareness campaigns, and educational programmes for finfluencers who want to act responsibly. Activity started on 20 April 2026. In the UK, the…
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The Insolvency Service has announced a partnership with Crimestoppers in an attempt to crack down on rogue directors. The partnership aims to boost tip-offs about banned directors still operating in the shadows The Insolvency Service disqualifies more than 1,000 directors every year for misconduct, including failing to pay tax and using company funds for personal…
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Consumer confidence has fallen to its lowest level since October 2023, according to the GfK consumer confidence index, which dropped four points to minus 25. This decline marks the third consecutive month of falling confidence and the largest drop since April 2025. The deepening concern was driven by perceptions of the UK economy, with a…
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Bad debt and late payment are hammering Scottish SMEs’ cashflow and profitability, according to new data from SME funder Bibby Financial Services (BFS). BFS’s latest SME Confidence Tracker revealed that 39 per cent of Scottish SMEs, equating to around 139,000 businesses, experienced bad debt in the past 12 months. For those affected, the average amount…
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Nearly one in eleven people in Britain say they are living with dental pain because they cannot get treatment, according to research by banking app thinkmoney. The data showed that while 11% of people say they avoid the dentist as they are scared of the drill, almost as many – nearly one in ten (9%)…
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Latest analysis has found that enforcement agents signposted thousands of people in financial difficulty to specialist advice through an online support hub within the first year of its launch. The CIVEA-NSN Support Hub was set up by the National Support Network (NSN), in partnership with the Civil Enforcement Association (CIVEA), wad launched to help people…
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The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have announced that firms will benefit from reduced costs and greater flexibility, and find it easier to comply with the Senior Managers and Certification Regime (SM&CR). The changes, which come as the first phase of a multi-stage package of reform from the Government and regulators, will maintain the core principle of senior leader accountability, and will benefit firms by giving more time to submit senior…
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New official figures published by Accountant in Bankruptcy (AiB) show a marked deterioration in both personal and corporate financial distress across Scotland in the first quarter of 2026, with insolvencies rising significantly compared with the same period a year ago. There were 2,003 personal insolvencies, encompassing bankruptcies and protected trust deeds, in the January to…
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New figures on small business lending reveal a 65% surge in applications for Personal Guarantee Insurance in Q1 2026. The data from Purbeck Insurance Services, shows the scale of risk that comes with running a small business, as more directors sought cover in the first quarter of 2026 than at any time previously, each having…
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