Credit, Collections & Insolvency News
Credit management firm Intrum UK has announced that it has appointed Phil McGilvray as its new Managing Director (MD). McGilvray has a career in financial services leadership spanning more than 25 years. He will take the UK business into its next stage of development as the company expands its market-leading financial services offering. McGilvray was…
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The Government has announced it will be introducing secondary legislation which will place all bailiff firms under the purview of the Enforcement Conduct Board (ECB), the existing voluntary regulator for the sector. The ECB was formed in 2022 to provide oversight for the enforcement sector, after years of campaigning from advice organisations. Individual bailiff firms…
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Rents are expected to more than double over the next 20 years, taking the total cost of renting in retirement to around £419,000, according to new analysis from Standard Life. This is set to place significant pressure on retirement incomes, with renters facing materially higher financial requirements than those who own their homes outright. The analysis…
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New figures released by the Finance & Leasing Association (FLA) show that asset finance new business (primarily leasing and hire purchase) grew by 15% in June 2026 compared with the same month in 2025. In the first half of 2026, new business was 7% higher than in the same period last year. Growth was broad-based…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew by 7% in June 2026 compared with the same month in 2025. The corresponding value of new business was 11% higher over the same period. In the first half of 2026, new business volumes grew by…
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New figures released by the Finance & Leasing Association (FLA) have shown that second charge mortgage new business volumes grew by 9% in June 2026 Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer Finance & Mortgages and Inclusion the Finance & Leasing Association (FLA), said…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business in June 2026 was 6% higher than in the same month in 2025. In the first half of 2026, new business in this market was 5% higher than in the same period in 2025. The credit card and personal…
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A scam whisky investment firm shut down after customers left thousands of pounds out of pocket, with the company wound up following Insolvency Service investigations. Cask Spirits Global Limited used high-pressure sales tactics to sell whisky cask investments, promising customers substantial returns and tax advantages. However, of the 17 customers the Insolvency Service identified who…
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Latest data from UK Finance has shown that there were 37,300 new loans advanced to older borrowers in Q2, up 13.4 per cent year on year. The value of this lending was £6.2bn, which was up 20.5 per cent compared with the same quarter a year previously. However the year-on-year comparison is inflated due to the…
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Over 10 million households (37%) are worried about how they’ll afford their energy bills this winter, according to new research from Citizens Advice. With the latest energy price cap expected to drive bills up to a three-year high – fueled by the ongoing conflict in the Middle East – the charity warns that millions of…
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Gen Z are being forced to go hungry as food costs soar, with almost one in three skipping meals or eating less – nearly three times the rate of 35–44-year-olds according to research from the cashback app Tuck. The study of 3,291 UK consumers found that 33% of Gen Z shoppers have started skipping meals or…
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New research from Close Brothers Motor Finance (CBMF) reveals that AI has transitioned into a mainstream operational tool for motor traders. Nearly two-thirds (65%) of UK motor dealerships are already actively using AI tools in their business today, with a further third (32%) planning to introduce them in the future. Among dealerships utilising or planning…
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Parents are taking different approaches to managing back-to-school costs, with 22% planning to use a credit card, 16% of parents planning to use Buy Now, Pay Later (BNPL) to cover back-to-school costs, and 19% saying they have cut back on other spending to afford the return to school, new research from Compare the Market has…
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