Credit, Collections & Insolvency News
Latest figures from the Insolvency Service have shown that the number of business insolvencies in England and Wales, was 2,029 in October 2025, 2% higher than in September 2025 (1,995) and 17% higher than the same month in the previous year (1,739 in October 2024). The business insolvencies consisted of 301 compulsory liquidations, 1,592 creditors’…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies decreased by 4% in October 2025 to a total of 10,552 individuals. The figures were 4% lower than in September 2025 and 14% higher than in October 2024. The insolvencies consisted of 599 bankruptcies, 3,846 debt relief orders (DROs)…
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Latest figures from the Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland remained stable in October 2025. The data shows that there were 115 business insolvencies registered in Scotland, the same as the number in October 2024. The insolvencies comprised of 61 CVLs, 50 compulsory liquidations and four administrations. There were no CVAs or…
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Latest monthly statistics from the Insolvency Service show that business insolvencies increased whilst personal insolvencies fell in Northern Ireland in October 2025. The data shows that there 48 business insolvencies registered, 55% higher than in October 2024. The insolvencies was comprised of 35 compulsory liquidations, 12 CVLs and one CVA. There were no administrations or receivership appointments. Personal…
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The Prudential Regulation Authority (PRA) has announced that the amount of a customer’s money protected if a UK bank or building society or Credit Union becomes insolvent will rise to £120,000 from December 2025. This increases the limit from the current £85,000 which was set in 2017. It is also more than the previous PRA…
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Cornwall Insight has released its final forecast for the January – March 2026 Default Tariff Cap (price cap), following the closure of the observation window on 18 November. The new forecast predicts the cap will fall to £1,733 a year for a typical dual fuel household in the new year. This would represent a decrease…
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New data from Moneysupermarket has found that 94% of people don’t realise that ex-housemates could be impacting their credit score. Teh dat found that 79% of people having lived with a flatmate, 94% remain unaware that joint financial products – like shared bank accounts or bills – can directly link their credit score to a…
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Latest data from UK Finance has shown that credit card spending has risen to £21.2 billion, 2.4 per cent higher than August 2024. Outstanding balances on credit card accounts have grown by 7.5 per cent over the twelve months to August and 47.9 per cent of outstanding balances incurred interest compared to 49.1 per cent in…
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A new report by Experian and Cifas has revealed a 9% rise in identity fraud, signalling the significant scale of fraud facing UK businesses as the festive season approaches. The data also highlights the new tactics criminals are deploying to exploit people and their personal information, and the steps businesses can take to protect themselves…
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SME lender and broker, Love Finance has announced the hiring of Selen Cagirgan as its new Head of Credit and Risk. Cagirgan will lead Love Finance’s underwriting, credit, and risk operations across its lending division. In her new role, she will be responsible for shaping the company’s credit strategy, strengthening risk controls, and developing scalable frameworks to support sustainable…
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Research by Aviva and Age UK has found that mid-retirees are navigating retirement without the financial support or guidance they may need as they get older. The report showed that almost two thirds (64%) of mid-retirees admit they have not spoken with family or friends about managing their financial affairs, should they become unable to…
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Specialist lender Afin Bank has announced that Sally Veitch has joined the board as an Independent Non-Executive Director (INED). Veitch has a wealth of experience in financial services, including current Board positions with SME lender LHV Bank and mortgage provider Perenna. She previously had NED roles with Tipton & Coseley Building Society, Redwood Bank and…
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Businesses, charities and other high-value bank account holders are being targeted by fraudsters using software to steal tens of thousands of pounds with the amount stolen from some individual accounts exceeding £1 million, according to new research from the Cyber Defence Alliance (CDA) and Cifas. The scam begins with a phone call and ends with…
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