Credit, Collections & Insolvency News
Research from MoneySuperMarket estimates that households will spend an average of £1,681.12 on Christmas this year. That is equivalent to more than half (54%) of the estimated average monthly UK household income. The hefty sum includes £144.43 on groceries, £76.85 on festive drinks and £80.58 on travel expenses,showing how the cost of Christmas quickly adds…
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Chancellor John Healey has set out the Government’s spending plans in his Budget, the first since Andy Burnham became Prime Minister. One of the key announcements was that standing charges, fixed daily fees customers pay regardless of usage, are to be removed from household gas bills in England, Scotland and Wales, with costs added to…
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Latest official figures published by the Accountant in Bankruptcy (AiB) have shown that there were 2,348 personal insolvencies (bankruptcies and protected trust deeds) in 2026-27 Q2, an increase of 559 (31.2%) compared with 2025-26 Quarter 2 (Q2), covering July-September 2026. In the same Quarter there were 713 debtor applications for bankruptcy benefitted from the revised…
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Chancellor John Healey has announced his Autumn Budget plans. As part of a package to help business, Healey increased the point at which High Street shops in England start paying business rates from £12,000 to £18,000, with vape shops and adult gaming centres excluded from the relief. The Chancellor has also announced an increase to…
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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 10% in August 2026 compared with the same month in 2025. In the eight months to August 2026, new business was 6% higher than in the same period last year. The plant…
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New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business volumes grew by 1% in August 2026 compared with the same month in 2025, while the value of new business was 3% higher over the same period. In the eight months to August 2026, new business volumes grew…
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New figures released by the Finance & Leasing Association (FLA) show that second charge mortgage new business volumes fell by 3% in August 2026. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer Finance & Mortgages and Inclusion at the Finance & Leasing Association (FLA), said “The…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 3% in August compared with the same month in 2025 to reach £9.7 billion. In the eight months to August 2026, new business in this market was 4% higher than in the same period in 2025. The…
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Latest data from Allianz Trade shows that business insolvencies are putting 213,000 UK jobs at risk. The company is forecasting that business insolvencies will rise by +5% in 2026 and +1% in 2027 (+6% in 2025), marking five consecutive years of increases. Given the uncertain geopolitical and macroeconomic environment, the peak in insolvencies will be delayed…
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Nine in ten (90%) of UK finance leaders have a clear business case for using AI in cash and liquidity management, but only seven in ten (71%) can clearly measure the business value their AI initiatives deliver, according to new research from FIS. The study, conducted by Opinium in June–July 2026 among 100 senior finance…
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As awareness and adoption of Open Banking continue to grow among UK businesses, trust is emerging as the industry’s next major challenge, according to Payit by NatWest’s latest Frictionless Payments research. The findings build on last year’s research, which identified lack of awareness as a key barrier to Open Banking adoption, with 28% of businesses…
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Shop price inflation reached its highest level in more than two years in October as rising energy and transport costs pushed up prices, according to the British Retail Consortium (BRC). Annual shop price inflation increased to 2.1%, from 1.4% in September, while food inflation rose to 2.9%, driven by higher prices for tinned and packaged…
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Specialist lender LiveMore has announced the appointment to its executive team of Danielle Wilson as Chief Commercial Officer. Wilson’s appointment strengthens its senior leadership team as the lender accelerates its growth through innovative solutions and new strategic partnerships. She is an experienced commercial leader with a track record spanning fintech, lending, AI and SaaS. She…
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