Credit, Collections & Insolvency News
Ecospend, the open banking technology provider has announced that it is partnering with enforcement and debt resolution specialist CDER Group to provide its account to account ‘Pay-by-Bank’ solution. Collecting over £250m of unpaid Central and Local Government debt each year, CDER Group are using Ecospend’s ‘Pay-by-Bank’ solution to provide an additional, easy to use, secure…
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In July the following administration notices have been issued and advertised in the London Gazette for the following companies: 21ST ARCHITECTURE LTD 33 LEGAL LTD A & H PROPERTY LTD ABERLA M&E LTD ABERLA SERVICES LTD ABERLA UTILITIES LTD ABSURD BIRD LTD AEG TEACHWALL LTD AIR ADS LTD AIR COOL ENGINEERING MIDLANDS LTD. ALMOR LTD…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in July: ‘COD’ FELLA’S LTD 10 BUSINESS ENVIRONMENTS LTD 1ST STEP ACCOMMODATION LTD 1STFOREGOLF LTD 22 SPACES MANAGEMENT LTD 24/7 FACILITIES MANAGEMENT SERVICE LTD 24/7 FITNESS GROUP LTD 2E TECH LTD 33HZ LTD 33SIX CONSULTANCY LTD…
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In July Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 24/7 STAFFING SUPPORT LTD 9TRAK LTD A J BUILDING & PLUMBING SERVICES LTD A TOUCH OF GLASS HAMPSHIRE LTD ACTION CREDIT MANAGEMENT LTD ACTIVE CONSTRUCTION (COVENTRY) LTD AHDC ENGINEERING LTD AIRCOOL TECHNOLOGY LTD AIUK LIFE LTD…
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The Financial Conduct Authority (FCA) has outlined new rules to make authorised financial firms more responsible for their appointed representatives (ARs). ARs are not authorised by the FCA – they can offer certain financial services or products under the responsibility of authorised firms (known as principals). Principal firms are responsible for ensuring their ARs comply with…
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Latest quarterly figures from the Insolvency Service for England & Wales showed that there were 5,629 business insolvencies registered in Q2 2022, the figures were 13% higher than the number of business insolvencies registered in the previous quarter and 81% higher than during the same quarter in the previous year. The total number of registered…
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Latest quarterly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies saw a quarterly decrease, but rose by 6.5% from the same time last year. Analysis of the figures showed that there were 28,946 seasonally adjusted personal insolvencies in Q2 2022, a decrease of 10.1% compared to Q1 2021’s figures…
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Latest quarterly figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland increased by 58%, The figures showed that in Q2 2022, there were 261 total company insolvencies in Scotland, this was 58% higher than in the same quarter of 2021. The business insolvencies comprised 44 compulsory liquidations,…
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Latest quarterly figures from Accountant in Bankruptcy (AiB) have shown that overall, personal insolvency numbers in Scotland for Quarter 2 2022-2023 rose by 8% In Q2 2022, there were 2,037 personal insolvencies in Scotland, 8% higher than during the same quarter of 2021. The insolvencies comprised of 1,451 protected trust deeds and 586 bankruptcies (also…
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Latest quarterly figures from the Equity Release Council have found equity release lending reached a new quarterly high of £1.6 billion in Q2. The rise is the fourth consecutive quarterly period to close with record lending eith the total amount released in the first six months of 2022 surpassing £3.1 billon, a 36 per cent…
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With the Bank of England (BoE) set to announce the biggest interest rate rise in 27 years this Thursday (4th August) new research by TotallyMoney and Moneycomms have analysed the potential shock the hike will have on 2 million variable-rate mortgage customers. The research found that the average UK property costing £270,708, with a 75%…
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Latest quarterly statistics from the Insolvency Service have indicated that Northern Irish personal insolvencies increased whilst business insolvency figures declined. The figures showed that in Q2 2022 there were 440 personal insolvencies in Northern Ireland, 25% down on the same quarter of 2021. The insolvencies comprised 373 IVAs, 39 DROs and 28 bankruptcies. Separately there…
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New figures from the Registry Trust have revealed that the number of judgments registered in Republic of Ireland decreased in Q2 2022 as compared to the same period last year. However, the value of debt has seen an increase year-on-year. The total number of judgments fell from 431 in Q2 2021 to 321 in Q2…
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