Credit, Collections & Insolvency News
Almost half (49%) of all small business owners in the UK are set to increase their prices as they look to battle rising costs, a new report reveals. The SME Insights Report, released by Simply Business, one of the UK’s biggest small business insurance providers, saw over 1,000 small business owners from across the UK…
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Money Advice Liaison Group (MALG), has celebrated its 35th anniversary at a National Members Meeting in London with the launch of a new Ambassador programme. MALG CEO Bob Winnington took attendees through MALG’s history and key achievements including the publication of the first ever industry guidelines on debt and mental health in 2007, and the…
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The Payment Systems Regulator (PSR) has published its annual report and accounts for 2021/22, setting out how it made a difference over the past financial year. 2021/22 was a year that saw the PSR impose its largest ever fine, boost protections against payment scams for millions making online payments, ensure free to use cash machines…
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TransUnion has appointed Dominic Goslett as Chief Revenue Officer where he will be leading the go-to-market strategy, driving sales and overseeing client relationships. Having held senior leadership roles with TransUnion since 2018, Dominic has been responsible for defining and delivering strategies across a range of sectors, including government, gaming, e-commerce, telecommunications, debt market and utilities.…
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Consumer-centric recovery management solution, Everchain has announced the initial phase of its international expansion strategy launching in the UK. The company focuses on providing consumer lenders with compliant recovery solutions. The company will be led by Dan Ware, EverChain UK’s President, Ware will lead expansion efforts and build out its presence in other key European…
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Nearly 600,000 people are now paying less in interest and charges on their credit card debt because of changes made by the Financial Conduct Authority (FCA) according to its Annual Report. In the report the reulator has set out how it has worked over the past 12 months to meet its objectives of protecting consumers,…
Read moreAlmost 200,000 small businesses have fallen into arrears on their bounce-back loan repayments. Data from the British Business Bank (request by Purbeck Personal Guarantee Insurance) found that the company administering the Bounce Back Loan Scheme (BBLS), shows that 193,000 firms had failed to meet their repayment terms at the end of June. The figures represent…
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Scaling back investment will have a wider economic impact, warns Time Finance as new data shows that businesses are making huge sacrifices due to rising costs, with one in five unable to invest in growing their business. As part of a survey to expose the extent of challenges currently facing businesses, Time Finance also found…
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The total value of lending to businesses has risen by £12 billion to £533 billion (in the 9 months to the end May 2022) as banks increase their lending following a sharp fall at the end of the CBILS and BBLS schemes according to research by ACP Altenburg Advisory. The research found that the rise…
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Soaring energy costs and rising food and fuel prices are set to put an extra burden on families’ budgets over the school holidays, which begin this week with more parents being forced to turn to borrowing to make ends meet over the summer according to new research by Ste[Change. The research shows that parents are…
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Following a digital home boom established during Covid-19 pandemic lockdowns, consumers are retreating on connectivity and content needs as they prioritise financial and mental well-being. This is according to the latest EY Decoding the digital home study, which surveyed more than 2,500 households in the UK to analyse how the cost-of-living crisis has impacted consumer…
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The Credit Service Association (CSA) has announced that Webio will be the headline sponsor for the association’s annual UK Credit and Collections Conference (UKCCC) which will be held in Manchester on Thursday 15th September. Commenting on the sponsorship agreement, Mark Opperman, Co-founder of Webio said “We’re delighted to be sponsoring this year’s UKCCC event and…
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The number of profit warnings issued by UK-listed companies in the first six months of 2022 increased 66% compared to the same period in 2021, with a record number of companies citing rising costs as the reason behind their warning, according to EY-Parthenon’s latest Profit Warnings report. The report reveals that 136 profit warnings were…
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