Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that consumer car finance new business by value and volume in November 2025 was at a similar level to the same month in 2024. In the eleven months to November 2025, new business volumes grew by 1% compared with the same period in 2024.…
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New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business grew in November 2025 by 3% compared with the same month in 2024. In the eleven months to November 2025, new business in this market was 5% higher than in the same period in 2024. The credit card and…
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The Money Advice Liaison Group (MALG) has announced ithas secured funding from Money & Pensions Service for a new research initiative exploring what safeguards are needed to ensure Generative AI is used safely for debt advice. The research project, entitled ‘Exploring Safe & Effective Self‑Serve in Regulated Debt Advice in the Generative AI Era’, is…
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A bankrupt builder from Derby has been jailed after illegally obtaining more than £400,000 for home improvement projects. Nigel Dinneen secured advance payments from five victims in the Midlands without disclosing to them that he had been declared bankrupt in July 2019, as he was legally required to do. Dinneen was sentenced to 12 months…
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New research from the Centre for Responsible Credit has highlighted how concerns around credit scores can prevent people in financial difficulty from seeking help and should be viewed as one aspect of financial health, not the entirety. Statistics from the report show that credit score concerns have stopped hard-up borrowers from seeking help: with industry-promoted…
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Oldham Credit Union (OCU) has announced that it has appointed Lyndsey Gilkes as its new Chief Executive. Gilkes brings over six years of experience from Hoot Credit Union to the position. Founded in 2002, Oldham Credit Union is a not-for-profit, democratic organisation serving over 4,000 members, with membership growing at 10% annually. Since its inception,…
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New research by Moneyfram has discovered that as many as 79% of people have little to no idea how much money they have saved to pay for their retirement, while almost three in ten (27%) don’t even know who their pension provider is. According to the study, 61% put money into a pension every month,…
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Specialist lender OSB Group has announced the promotion of Adrian Moloney to Group Lending Distribution Director. In his expanded role, Moloney will be responsible for shaping and delivering OSB Group’s lending distribution strategy across its three specialist lending brands: Precise, Rely, and InterBay. Jon Hall, Group Managing Director, Mortgages and Savings, OSB Group said “Adrian…
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Latest Office for National Statistics (ONS) data has shown that the economy grew by 0.3% in November, marking the fastest growth since the 0.4% recorded in April. Analysts had been expecting monthly GDP growth of just 0.1%. The growth was driven by a return to production at Jaguar Land Rover and strong performance in the…
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Optimism in the UK’s economic future among small businesses has tumbled heading into 2026, according to new research from iwoca. The research found that less than two-fifths (38%) of small businesses were optimistic about the UK economy, down from 51% last year. When asked about their main concerns for their business this year, nearly half…
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The Financial Conduct Authority (FCA) has published a consultation paper with proposals to transform Retail Banking Business Models data collections into an annual return to enable the regulator to monitor competitive dynamics to identify shifts, spot emerging harms and intervene where needed. Damien Burke, Head of Regulatory Practice at Broadstone, said “The FCA’s consultation aims…
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Business confidence sank into negative double-digit territory for the first time in three years amid unprecedented fears over the tax burden and weaker activity, according to the ICAEW research. Sentiment in Q4 2025 stood at -11.1 on ICAEW’s Business Confidence Monitor (BCM) index, its lowest point since Q4 2022, having dropped from -7.3 in the…
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Dudley Building Society has appointed Paul Purewal as Head of Intermediary Relations. Purewal joined the Society in January and brings more than 24 years of experience from Coventry Building Society, where he held a range of senior intermediary-facing roles across corporate, field and telephone distribution. Most recently, he spent over five years as Corporate Account…
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