Credit, Collections & Insolvency News
New research by Updraft has revealed that September is the worst month for money anxiety as September marks more than just the end of summer, but the start of the post-summer blues. The data shows that 31% of people feel anxious, 21% regret overspending, and only a third say they feel motivated to fix their finances after…
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Millions of drivers in the UK admit to driving without insurance due to the recent rise in premium costs according to new research by CRIF. The findings show that 5% of motorists have previously driven without motor insurance due to rising costs, despite it being a legal requirement. This equates to around 1.4 million drivers…
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The 2026 Credit & Collections Industry Awards have opened for entries into next year’s awards. The awards programme was launched in 2024, recognising excellence within credit and collections by highlighting achievements through its tangible and transparent awards judging scheme. The awards also acknowledge key industry innovations and initiatives in credit, lending and collections. The Credit…
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Consumer confidence in the UK has declined, with GfK’s Consumer Confidence Index showing a fall by two points to -19 in September. Neil Bellamy, Consumer Insights Director at GfK, an NIQ Company, said “There’s an autumnal chill in the air this month, with all five measures of consumer confidence down and the Overall Index Score for September…
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The UK economy is projected to experience only modest growth over the next two years, according to a report by KPMG. The firm forecasts a rise of only 1.2% this year and 1.1% in 2026, significantly lower than the Office for Budget Responsibility’s earlier estimate of 1.9% driven by lower interest rates and infrastructure investment,…
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A businessman has been disqualified after acting as a director of a company for two years while he was bankrupt. Scott Dylan was banned as a company director for eight years following a hearing at the High Court in Manchester earlier this month. The Insolvency Service found that Dylan had acted as a director of…
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Target Group has announced that it has strengthened its risk and compliance management with the appointment of Jennifer Read as the company’s new Head of Risk. Read brings nearly 20 years of experience to Target in operational risk and governance, working across financial services and fintech in banking and markets, savings and asset management. Starting…
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Latest data from the Insolvency Service has found that the construction industry experienced the highest number of insolvencies in the 12 months to July 2025 at 3,973, making up 17% of all industry cases. Kelly Boorman, National Head of Construction at RSM UK, said “The latest insolvency figures reflect the ongoing economic pressures facing construction businesses,…
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Latest research by the British Retail Consortium (BRC) has shown that high inflation is weighing on consumer confidence. The data showed that state of the economy worsened to -36 in September, down from -32 in August with the personal financial situation worsened to -7 in September, down from -6 in August. Personal spending on retail rose…
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WeDo Business Finance has announced that it has appointed Aman Gill as Head of Credit Risk and Underwriting. Gill has worked in financial services for nearly 20 years and has joined from Bibby Financial Services, where he was responsible for structuring and underwriting asset-based lending facilities as head of trade services and corporate underwriter. Kelly…
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A tour operator has been jailed after securing two maximum-value £50,000 Covid Bounce Back Loans when businesses were only entitled to one. Raja Imtiaz fraudulently applied for a second Bounce Back Loan on behalf of Al Fayroz Travel & Tourism Limited in the summer of 2020, just two weeks after securing another £50,000 loan for…
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Latest figures from the Insolvency Service have shown that the number of registered business insolvencies in England and Wales fell by 1.7% in August 2025 to a total of 2,048 compared to July 2025’s total of 2,083, and increased by 5.9% compared to August 2024’s figure of 1,933. There were 2,048 in August 2025 the…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency figures increased by 6.8% in August 2025 to a total of 11,348 compared to July 2025’s total of 10,624, and increased by 16.1% compared to August 2024’s figure of 9,778. In August 2025, 11,348 entered insolvency in England and…
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