Credit, Collections & Insolvency News
Desperate families are finding themselves forced to borrow from illegal loan sharks as a consequence of getting into severe debt due to the high costs of paying for the funerals of loved ones, according to research by Funeralexperts.com. The data revealed that around 32,400 people (3%) of the 1.08 million people who were forced to…
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Hampshire Trust Bank (HTB) has announced that it has strengthened its Development Finance team with the appointment of Jake Sweeney as Lending Director, alongside a series of senior promotions as it continues to invest in experienced decision-making across its development finance proposition. Sweeney joined the bank in January 2026, moving from Goldentree Financial Services PLC,…
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The Building Societies Association’s (BSA) latest Property Tracker survey, conducted in January 2026, shows that the barriers preventing would-be homebuyers from achieving their aspiration remain financial – raising a deposit (64%), affording monthly mortgage repayments (50%) and access to a large enough mortgage (45%) – rather than attitudinal. With the main obstacles tightly clustered around…
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The Government has announced that around six million low-income households will continue to receive £150 off their winter energy bills with the Warm Home Discount scheme extended by five more years. The Government’s expansion of the Warm Home Discount last year added 2.7 million families to the scheme, bringing the total number of eligible households…
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New data from Water UK has indicated that water bills in household water bills in England and Wales will rise by an average of 5.4% – around £33 a year, or approximately £2.70 per month – from April, reflecting significant investment in upgrading water infrastructure. The rise is two percentage points above December’s official inflation…
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UK businesses continued to face intense financial pressure throughout 2025, with 28,616 insolvency activities recorded, while start-ups declined, according to a new report from R3. While corporate insolvency-related activities – including administration and voluntary and compulsory liquidations- eased slightly compared with 2024, when there were 29,366 instances, they remain significantly above pre-pandemic norms, reflecting a…
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Trade credit insurer Atradius has issued a red flag to the motor industry as new data reveals a sharp rise in claims for unpaid and late invoices. Failed and late payment claims against automotive businesses, including OEMs, original equipment manufacturers, component manufacturers and dealerships, have risen 78% year-on-year (Nov 2025). Claims across the wider transport sector,…
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PayPlan has announced that it has strengthened its leadership team with the appointment of a new Chairman and three senior industry executives, signalling bold growth ambitions to transform the way customers and partners experience debt advice. The company has received strategic investment from Palladian Investment Partners, which will be used to accelerate the rollout of enhanced digital debt advice services, delivering faster,…
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A Covid fraudster has been sentenced after illegally obtaining a second Bounce Back Loan for his company when businesses were only entitled to one. Jobanputra applied for two £50,000 Bounce Back Loans for his printing business, Genesis Web Limited, within a five-day period in the summer of 2020. The 41-year-old fraudulently declared on the second…
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Debt management and financial services company, Lantern Group has announced it has made three strategic senior appointments. The company has announced Charlotte Symonds as Chief Operating Officer, Charmaine Bonnaire as Director of Partnerships, and Scott Forster as Head of Brand and Communications. Joining Lantern’s C-suite as Chief Operating Officer, Symonds brings two decades of experience…
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RSM UK has announced the appointment of Joe Barry as Restructuring Partner. Barry will lead the restructuring advisory team in Birmingham. Joining RSM from Teneo, Barry has over 14 years of experience in restructuring and turnaround. He is an experienced team leader with expertise across a broad range of industries, including construction, real estate, retail,…
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New data shows Britain’s hospitality sector is shrinking fast, with a net loss of 382 venues between October and December. Industry bodies warn that without broader support, hundreds of restaurants, hotels and pubs could close in 2026, despite pubs being exempt from upcoming business rates increases according to NIQ’s latest Hospitality Market Monitor. Britain’s number…
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New research by Moneybox has found that half (50%) of respondents said rising costs of everyday expenses (e.g. bills, food, transport) were triggering feelings of anxiety or stress when it comes to their money. A further third (34%) said unexpected expenses or emergencies (e.g. car/home repairs, family emergencies) and a fifth (22%) mentioned a general…
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