Credit, Collections & Insolvency News
Katharine Braddick CB has appointed as the next Deputy Governor for Prudential Regulation at the Bank of England and Chief Executive of the Prudential Regulation Authority (PRA), succeeding Sam Woods, whose term ends in June 2026 and has served as Deputy Governor for Prudential Regulation since 2016. Braddick brings a rare mix of private sector banking experience…
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New figures published today by Registry Trust have shown that court judgment activity rose sharply in 2025, reaching its highest level since before the pandemic. A total of 1,196,174 new County Court Judgments (CCJs) were registered across the UK and Ireland in 2025 – a 10.1% increase year-on-year and the highest annual total since 2019, 1,163,903…
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Late payments are forcing an estimated 14,000 businesses to close every year, equivalent to 38 closures every single day, as cash-strapped firms struggle to survive unpaid invoices, according to new analysis from Funding Circle. Construction is the sector most exposed, with over 2,100 firms estimated to have closed in 2024 due to delayed payments, driven by…
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Barclays has published new policy recommendations urging the UK government to take further action to support the nation’s exporters, particularly smaller businesses. The analysis draws on proprietary data covering current and potential future exporters, alongside the bank’s own in‑house expertise and long-standing experience supporting UK firms trading internationally. This work comes at a time when…
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Late payments are increasingly undermining the stability of UK SMEs, threatening payroll, job security and growth potential, according to new research by Bibby Financial Services (BFS), with the data showing that late payments from customers prevented more than two-fifths (42%) of SMEs from paying staff salaries on time in the last 12 months. Meanwhile, nearly…
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More than three in four small business owners (78%) say business worries keep them awake at night – as concerns over economic volatility and geopolitical uncertainty reach a record high (52%) – according to new research from Novuna Business Finance. Compared to the position two-years ago, the biggest rises in business owner concerns related to…
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New Compare the Market research has highlighted that the typical costs people may face when separating and setting up a home on their own, with total expenses ranging from £9,175 to £24,641, depending on housing and marital status. With 28.6 million households in the UK, married couples remain the most common family type, accounting for…
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GfK’s Consumer Confidence Barometer Index has shown a drop of three points to -19 in February. Three measures were down, one was up, and one was flat, compared to last month’s announcement. The drop reflects growing concerns about personal finances and a reluctance to make significant purchases. Neil Bellamy, Consumer Insights Director at GfK, an NIQ…
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Wesleyan Group has announced it has made two appointments to the board to support its ambitious growth strategy, with Ian Gladman joining as Chair and Marco Groot Wassink as Chief Financial Officer (CFO). Gladmen will formally succeed Nathan Moss in April, following the completion of the outgoing Chair’s nine-year term. He brings more than 30…
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The Department for Work and Pensions’ (DWP) new powers to reach further into citizens’ lives must be used effectively and proportionately. In a new report on benefit fraud and error, the Public Accounts Committee (PAC) promises continued scrutiny of how the DWP will work to resolve the cases of carers wrongly pursued for overpayment debts,…
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A fraudster who illegally secured a Covid loan after a friend coached him on how to make a false application has been jailed. Fahad Sheikh applied for a maximum-value £50,000 Bounce Back Loan in 2020, falsely stating that his Garage Cars 4U business had a turnover of £220,000. His business was in fact not trading…
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Lenders could have access to more comprehensive information to support lending decisions, under new proposals by the Financial Conduct Authority (FCA). The FCA is consulting on designating certain credit reference agencies (CRAs). If a lender shares credit information with one designated consumer CRA, it would be required to share it with them all. The changes…
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February is on track to record the highest number of new home listings in a decade, according to Zoopla’s latest House Price Index. Combined with falling mortgage rates, the market is currently looking particularly good for first time buyers, with 40% of homes for sale now cheaper to buy with a mortgage than rent. Reflecting…
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