Credit, Collections & Insolvency News
Latest figures from Accountant in Bankruptcy (AiB) have indicated that business insolvency numbers (liquidations and receiverships) in Scotland increased in April. In April 2022 there were 92 company insolvencies registered in Scotland, 142% (2.4 times) higher than April 2021 but 10% lower than in April 2019. The insolvencies comprised of 17 compulsory liquidations, 73 CVLs,…
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Latest statistics from the Insolvency Service have indicated that Northern Irish business insolvencies increased whilst personal insolvency figures declined in the latest monthly figures round-up for April. In April 2022 there were 13 company insolvencies registered in Northern Ireland, 2.6 times as many as in April 2021, but 32% lower than April 2019. This was…
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The Office for National Statistics (ONS) has revealed that consumer price index inflation hit 9% in April, its highest level in more than 40 years. Commenting on today’s inflation figures for April, ONS Chief Economist Grant Fitzner said “Inflation rose steeply in April, driven by the sharp climb in electricity and gas prices as the…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales decreased by 6% in April 2022 to a total of 1,991 compared to March’s total of 2,119, and increased by 115.2% compared to April 2021’s figure of 925. Business insolvencies were more than double the number registered in…
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New fintech, Saltare has announced the appointment of Tracy Grazioli, as Commercial Manager. Grazioli will be responsible for driving Saltare’s customer acquisition programme supporting major private sector organisations and local authorities, with a particular focus on Saltare’s first major product launch, Early Pay. Grazioli has spent 30 years in Trade Finance, more recently as an International…
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A specialist police unit which targets the organised criminal gangs behind fraud prevented a record £101 million from being stolen in 2021, the highest amount in the unit’s 20-year history. The Dedicated Card and Payment Crime Unit (DCPCU) which is funded by the banking and finance industry, is made up of officers from the City…
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New research by Yorkshire Building Society has found that nearly nine out of ten (87%) 11-18-year-olds have limited knowledge about managing money with 14% say they know nothing at all about money management. Only around a third (36%) of 11-18-year-olds in the UK surveyed say they have learnt about finances at school despite it being…
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New figures released today by the Finance & Leasing Association (FLA) show that consumer finance new business grew by 19% in March 2022 compared with the same month in 2021. In Q1 2022 overall, new business was 34% higher than in the same quarter in 2021. The credit card and personal loan sectors together reported…
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New figures released by the Finance & Leasing Association (FLA) show that the consumer car finance market reported new business volumes up in March 2022 by 2% compared with the same month in 2021. The corresponding value of new business grew by 8% over the same period. In Q1 2022 as a whole, new business…
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New figures released by the Finance & Leasing Association (FLA) have shown that second charge mortgage new business volumes have grown by 42%. Commenting on the latest new business figures for the second charge mortgage market, Fiona Hoyle, Director of Consumer & Mortgage Finance and Inclusion at the Finance & Leasing Association (FLA), said “New…
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New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) grew in March 2022 by 13% compared with the same month in 2021. In Q1 2022 as a whole, new business was 7% higher than in the same quarter in 2021. The IT…
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Time Finance has announced that they have appointed Sean Hughes as Head of Compliance. Hughes brings over 10 years’ experience to the role having built a credible career within the financial services sector. During his time at firms including Thistle Initiatives Group, BNY Mellon, Atlanta Group and Time Finance Sean has played a hands-on role…
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New research by comparethemarket.com has found that a third of drivers (31% think they will need to take on additional debt to afford to keep driving One in four motorists (25%) has struggled to afford the cost of driving in the past month, whilst one in three drivers (33%) are worried that they won’t be…
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