Credit, Collections & Insolvency News
The Enforcement Conduct Board (ECB) has announced new vulnerability standards for enforcement firms and agents. The Standards provide stronger protections for people in vulnerable situations. Over 7 million cases of unpaid debts are sent out for enforcement each year, with the industry recovering over a billion pounds, much of which is for the public purse. The ECB ensures that enforcement is done fairly,…
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Latest FICO analysis of credit card data for January 2026 shows a post-Christmas reduction in spending as customers prioritised payments after the festive break. However, with spending lower year-on-year and increases in missed payments, the financial pressures that were a feature of the UK economy for the majority of 2025 have continued into the new…
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The Government has announced new legislation which is designed to protect small businesses and aims to ensure that companies pay suppliers within 60 days, with late payments potentially triggering fines. Boards must also detail payment terms in their audit reports. Under the new plans, the Small Business Commissioner will be given sweeping new powers to…
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Business bank Zempler Bank has named its Chief Financial Officer (CFO), Dominic Wade, as its new Chief Executive Officer (CEO), pending regulatory approval. Wade succeeds Rich Wagner, Zempler’s founding CEO, who stepped down earlier this months, with Wagner moving to a part-time advisory role to the board, led by Chair Mark Sismey-Durrant. The leadership change follows…
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The number of Africans applying for, or planning to apply for a UK mortgage is falling as foreign nationals continue to struggle to navigate the UK home loan system, according to research by Afin Bank. The research by the specialist lender found that 38% had a mortgage in 2026, compared with 48% in 2025 and…
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Two in three UK small businesses (67%) are working on plans to strengthen and grow over the spring months, although plans to hire new staff (14%) have hit a new five-year low, according to new research from Novuna Business Finance Whilst 84% of small businesses started 2026 with hopes to grow their enterprises during the…
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A new report by Barclays has highlighted how student loans significantly impact graduates’ ability to save for home deposits. The study reveals that individuals with student debt save £310 monthly, while those without save £473.70 creating a £1,963.70 gap annually. Additionally, 44% of loan holders feel repayments hinder their financial stability, and 41% believe it prevents…
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The Government has announced that millions of people and businesses who owe money to the Government will benefit from more personalised and affordable repayment support under new plans to improve how debt owed to the public sector is managed. The 2026–2030 Government Debt Management Strategy outlines how departments will better use data and earlier engagement to help people who…
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Latest Insolvency Service data show that accommodation and food services insolvencies rose 9% month-on-month, from 205 in December 2025 to 223 in January 2026. However, insolvencies in the sector dropped 18% year-on-year from 273 in January 2025. RSM UK says that this uptick, while concerning in the short term, is set against a more favourable year-on-year backdrop. This suggests…
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The Bank of England has announced that it has held interest rates at 3.75% with the Monetary Policy Committee (MPC) voting unanimously to keep interest rates on hold. The Bank says that a “shock to the economy” sparked by the war in the Middle East could push inflation as high as 3.5% later this yeart,…
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New research commissioned by subscription lender Creditspring found that more than three quarters of mothers (77%) have worried about money in the past three months because of child-related costs such as birthday parties, activities, clothes and days out. That compares with 70% of fathers. The research also suggests many mums feel responsible for managing these…
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New data by Age UK has found that more than one in four (28%) pensioners said they were struggling financially before war broke out in Iran, with energy being the main issue. Following on from the Government’s announcement this week providing £53m of support for oil-heated households, Age UK warns this package won’t be enough…
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New research from The Social Market Foundation has warned that many workers may face a ‘pension shock’ in the coming decade, as they realise their retirement income is likely to be significantly lower than expected. Gen X (those born between 1965 and 1980) fall in the gap between the two pension systems. Many were too…
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