Credit, Collections & Insolvency News
Support services provider MorganAsh has announced that it has integrated the Vulnerability Registration Service (VRS) with its own innovative MARS resilience tool. The MorganAsh Resilience System (MARS) provides staff working in financial services with a simple way to assess, understand, rate and track characteristics that contribute to the vulnerability of individual customers. The MARS tool…
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Seven in ten small businesses (70%) that predict significant growth in the next three-month say they will have to put plans on hold if they were unable to secure finance. Access to finance and borrowing is also urgently needed by small businesses most affected by COVID – those that either had to close or repurpose…
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New research from Experian has highlighted that affluent, older households are being targeted by fraudsters committing credit card application fraud. Latest data from the National Fraud Hunter Prevention Service, analysed by Experian, found the detected fraud rate for cards rose by 18% in the first three months of 2022 when compared to the same period…
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One in three UK-based small and medium-sized enterprises (SMEs) who sought access to finance were denied in the last year, according to new research from Yolt, Europe’s rapidly accelerating smart payments and data enrichment platform. This resulted in an estimated £3.7bn lost in potential funding for UK SME’s. The research found that in the last…
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Supply chain issues, rising energy costs or record levels of inflation are three of the biggest threats facing more than half (58%) of businesses in the next six months, according to new research by accountancy and business advisory firm, BDO. The bi-monthly survey of 500 leaders of medium-sized businesses reveals almost a fifth (18%) of…
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New data from Time Finance reveals peace of mind, flexibility and supporting cashflow to be the top three benefits of having an Invoice Finance facility, according to UK business owners. As well as this, 42% of UK business owners told Time Finance that Invoice Finance gives them more financial freedom, whilst one in four said…
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Embedded business finance platform, Liberis has announced that it has entered into a partnership with Barclaycard to offer their small business customers access to personalised revenue-based finance. The news follows Barclays’ investment of £34.5 million in Liberis agreed in Q4 2021. The finance will in part help Liberis to further develop its API driven embedded finance platform,…
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Growth in consumer credit lending is being rapidly outpaced by the Buy Now Pay Later (BNPL) market according new research by Freedom Finance. Industry figures estimate that BNPL lending is likely to increase by 52% to well over £20 billion in 2022 compared to the previous year. The FCA estimates that the industry was worth £2.7…
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Richard Lloyd OBE has become Interim Chair of the Financial Conduct Authority, as previously announced on 4th February 2022. Lloyd takes over from Charles Randell CBE, who stood down yesterday after four years as Chair. Randell took up his role as Chair of the FCA and Payment Systems Regulator’s (PSR) Boards in April 2018. The…
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The Insolvency Service has announced a ban for consultancy Director who abused Covid-19 financial support scheme. Richard Milne, from Kingston-upon-Thames was Director of Langshot Ltd, a small consultancy incorporated in 2016. He applied for a £30,000 Bounce Back Loan on behalf of the company in May 2020 despite the company accounts showing annual turnover of…
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Global payments platform for digital Account-to-Account transactions Trustly, has announced the acquisition of Open Banking Payments platform Ecospend. Ecospend’s strong UK A2A product and full bank connectivity will complement and enable Trustly to further accelerate its UK roll-out – one of Europe’s most rapidly growing A2A regions and a core growth market for Trustly. Four…
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In May Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 1ST ADVANCED SCAFFOLDING SYSTEMS LTD 9 WINDMILL STREET LTD A & R PLUMBING AND HEATING LTD A A RECLAIM LTD A CUT ABOVE CONSTRUCTION LTD A.C.E. (SOUTH WEST) LTD ABU DESIGN & BUILD LTD ACES AUTO…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in May: 80 20 VENTURES LTD A A PROPERTY LTD A K GILBERT LTD A W PROPERTIES (MIDLANDS) LTD A. & R. LLOYD (CHESTER) LTD A.F. DISCOUNT JEWELLERY LTD A.W PHILLIPS LTD A1 FINANCIAL SERVICES LTD…
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