Credit, Collections & Insolvency News
The Federation of Small Businesses (FSB) is sounding a warning shot ahead of a looming cost crunch in April that could push many small firms to breaking point. In less than two months, rising energy bills, business rates hikes, spiralling employment costs and changes to Statutory Sick Pay will all rise at a record pace,…
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The Payment Systems Regulator (PSR) has fined Bank of Ireland UK for failing to implement Confirmation of Payee (CoP) by the required deadline. The Payment Systems Regulator (PSR) has fined Bank of Ireland UK £3.7m for failing to implement a crucial fraud protection service on time. The bank missed the deadline by 14 months, leaving…
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Creditstar Group, a European data-driven fintech, has announced that its UK subsidiary has received approval from the Financial Conduct Authority (FCA). to operate as a mainstream consumer credit lender in the United Kingdom. Following FCA approval, Creditstar UK is offering fully digital personal loans of up to £10,000 with repayment terms of up to 60…
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Cornwall Insight has released its final forecast for the April – June 2026 which predicts the cap will fall by £117 to £1,641 a year for a typical dual fuel household. This would represent a decrease of 7% from the current price cap, which is set at £1,758 per year. The main driver behind the…
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UK inflation fell to 3% in January, down from 3.4% in December, according to the latest data from the Office for National Statistics (ONS). This was the lowest inflation figure since March last year. The change was partly driven by lower fuel prices, lower airfares and lower food prices. Core CPI (CPI excluding energy, food,…
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More than half (58%) of finance brokers cite increased running costs as small business owners’ biggest concern, according to iwoca’s latest SME Expert Index. This represents a 10-point increase from 48% in Q3 2025 and is the highest level recorded since iwoca’s SME Expert Index began tracking this question in Q4 2022, highlighting the intensifying…
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The average UK household is now spending nearly £119 per week on food shopping, according to new research by Confused.com, amounting to more than £6,000 per year. The research shows that the average food bill is £1,144 per year, or £22 per week, more expensive than in 2024, a 23% increase. This is significantly higher than…
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The Finance & Leasing Association (FLA) has announced the appointment of Jeremy Barton as its new General Counsel, The FLA says thatthe new role reflects the growing complexity of the regulatory environment and the FLA’s commitment to supporting members with authoritative legal insight, robust governance, and proactive engagement with policymakers and regulators. Barton is a…
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Evlo has announced a new partnership with rent-reporting platform, CreditLadder. The partnership is the next milestone in Evlo’s industry-focused’ Financial Freedom for Everyone’ campaign, which is calling for reforms that make the credit system fairer and more inclusive for renters. Through this collaboration, Evlo will be able to connect its renter customers, especially those with…
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Thames Water Partners with Qualco UK to Advance Customer Engagement and Affordability Management Qualco UK, part of Qualco Group, has announced a three-year partnership with Thames Water , the largest water utility in the UK, serving 16 million customers across London and the Thames Valley. Following a comprehensive formal bid and Invitation to Negotiate process,…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England and Wales increased by 4% when compared to December 2025 to 1,744 in January 2026, but 14% lower than the same month in the previous year (2,028 in January 2025). The insolvency data consisted of 256 compulsory liquidations, 1,323…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies increased by 12% in January 2026 compared to January 2025, rising to 10,843 from 9,644. Personal insolvencies were 20% lower in December 2025 compared to January 2026, when numbers were affected by a temporary backlog. The personal insolvency data consisted…
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Darlington Building Society has announced it has appointed Michael Conville as Chief Customer Officer. Conville joins Darlington, which is celebrating its 170th anniversary this year, from Newcastle Building Society, where he held senior roles as both Head of Mortgage Operations and interim Chief Customer Officer. Darlington Building Society Chief Executive, Andrew Craddock, said “Michael brings a…
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