Credit, Collections & Insolvency News
Digital bank Tandem announces the appointment of David Briggs as Managing Director of its Car Finance Division. Briggs joins Tandem in this newly created senior role to accelerate and amplify Tandem’s mission to build the UK’s fairer, greener digital bank and is the first senior appointment to Tandem’s Executive Committee following Tandem’s acquisition of leading…
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Pensioners have turned to their property wealth to pay for rising living costs and experts have warned rising costs and higher taxes will force even more people into using equity release this year according to the Equity Release Council’s Spring 2022 market report. British property wealth reached a record £5.2 trillion by the end of…
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A study by energy analysts Cornwall Insight shows that SMEs have already seen average gas bills climb more than 250% between the first three months of 2021 and Q1 2022. Analysts looked at delivered gas prices businesses pay on a 1-year acquisition fixed tariff, calculating how much they may pay in future if energy prices…
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The number of English households in ‘fuel stress’ will double from 2.5 to 5 million as a result of the price cap rising from today (Friday), with another 2.5 million households at risk in October if the price cap rises again to £2,500, according to new Resolution Foundation research. The research shows that low-income households…
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New research, by card issuing platform Marqeta, has indicated that nearly eight in ten (79%) were denied a loan say outdated affordability criteria was a key factor. The data from a survey of European consumers on their attitudes and experiences of lending shows that many consumers still feel frozen out of the lending bubble, held…
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Court Enforcement Services has announced that Jodie Martinelli-Oliver has been promoted to Director of Business Services. In this newly created role, Martinelli-Oliver will have a wide and varied remit to help to drive forward the business which is rapidly expanding. Daron Robinson, Managing Director at Court Enforcement Services said: “I am delighted to promote Jodie…
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Latest UK Finance figures have indicated that bank staff have worked with the police to stop £202.8 million of fraud since 2016 with the help of the Banking Protocol scheme. National Trading Standards and local police forces stopped £60.7 million of fraud, 34% more than in 2020, with data showing that bank branch staff made…
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The government is encouraging organisations to be vigilant of cyber threats as new data reveals nearly a third of firms suffering cyber attacks hit every week. Businesses and charities are being urged to strengthen their cyber security practices with almost one in three businesses (31 per cent) and a quarter (26 per cent) of charities…
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The Federation of Small Businesses (FSB) is warning that the futures of thousands of small businesses and sole traders are at risk as a raft of new admin requirements and cost pressures hit over the coming days. Its intervention follows Office for National Statistics figures showing that Covid infection rates are soaring, and close to one in…
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Citizens Advice has announced that, for the third month in a row, it has broken record for providing crisis support as the cost of living impact takes hold. In March 2022, the charity referred 24,752 people to food banks or to other charitable support, up by 44% compared to the same time last year. Research…
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More than half (54 per cent) of young people, aged 18-34, think the current credit score system is fundamentally flawed according to new research from MyLifeKit. More than 44 per cent of all other respondents, aged 35 and older, also agreed that credit scores are flawed, contributing to an average of 46 per cent of…
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Credit provider, NewDay has published insights into its customers’ spending trends for the first two months of 2022. The data showed consumers prioritised booking holidays, with average credit card spend on hotels, flights and travel bookings increasing 453% in January and February year-on-year (YoY) as consumers took advantage of reduced global travel restrictions. The further…
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The IoD’s Directors’ Economic Confidence Index collapsed from -4 in February 2022 to -34 in March 2022, the lowest level since October 2020. Investment intentions have also fallen back, with the net proportion of firms planning to increase investment falling from +14% in February to +2% in March. Over half (53%) of business leaders say…
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