Credit, Collections & Insolvency News
The Insolvency Service punished 32 individuals who went bankrupt as a result of excessive gambling or unnecessarily extravagant spending last year according to new analysis by Mazars. The Insolvency Service secured Bankruptcy Restrictions Orders (BROs) against these 32 individuals to prevent them from resuming the gambling, rash speculation or extravagant spending that contributed to their…
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The average SME online retailer could save an estimated £19,000 by reducing transaction fees associated with popular payment providers such as AMEX, Mastercard and Visa could through the adoption of Open Banking technology, according to research from Yolt. At present, small online retailers in the UK process approximately 217 sales a day – increasing by…
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The Government’s Digital Secretary Nadine Dorries has announced that fraud will be made a priority offence as part of the Online Safety Bill. Digital Secretary Nadine Dorries said” This government said it would legislate to make the UK the safest place in the world to be online while enshrining free speech, and that’s exactly what…
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StepChange Debt Charity and OVO Energy have announced a new partnership that will provide a package of support to the charity worth up to £2 million over the course of 2022 to support people facing financial difficulty. To help provide the immediate resource StepChange needs, OVO will be funding additional frontline services in 2022, worth…
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The TUC has warned that millions of low-income workers face a “perfect storm” this April with universal credit (UC) falling behind the cost of living as energy bills and taxes rise. The warning comes as new TUC analysis reveals that the number of workers on UC has increased by 1.3 million since the eve of…
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More than £4.3 billion of Covid loans that may have to be written-off by The Treasury due to fraud and highlighted by the recent resignation of Lord Agnew, could be eclipsed by businesses failing to repay their CBILs and BBLs Covid support loans according to new analysis by regional accountancy and business advisor, Azets. Azets…
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TruNarrative, a regtech platform in the financial crime and compliance sector and part of LexisNexis Risk Solutions has been appointed by Suffolk Building Society to enhance its financial crime and fraud prevention processes and digitalise its customer onboarding. With TruNarrative’s real-time financial crime decisioning and risk rating, the mutual will significantly improve the efficiency and…
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Skills Minister Alex Burghart MP will open the Trade Body Skills Summit as part of 2022 National Apprenticeship Week. The Minister’s speech will form part of the Credit Services Association’s (CSA) third Learning and Development annual event, which will be free of charge to attend and take place on Zoom from 10am on Thursday 10…
Read moreDebt purchaser, Lantern has received its third consecutive ‘gold’ award from customer experience experts, Investor in Customers (IIC). The ‘gold’ award means Lantern excelled at all four principle themes – understanding customer needs, meeting customer needs, delighting customers and engendering loyalty. The Lantern team took on board feedback from its first IIC assessment in 2018,…
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A maximum 15-year ban has been imposed on a company director after he posed as a fake Insolvency Practitioner. Kevin Morris, also known as Kevin Gordon Sykes, from north London has been disqualified for the maximum 15 years after he was found to be a de facto director of Rigil Kent Acquisitions Limited (RKAL), while…
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Water UK has announced that water bills are set to rise from April, adding to the cost of living crisis due to hit households across the country. As water companies issue customers’ water bills for next year, showing an average increase of 1.7%, or about £7, Ofwat has called on water companies to make providing…
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HM Treasury has announced that they have started the search for the next Chair of the Financial Conduct Authority (FCA). While the search for Charles Randell’s permanent successor concludes, Richard Lloyd OBE will act as Interim Chair of the FCA from 1st June 2022. Aidene Walsh will act as interim chair of the Payments Systems…
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Global information and insights company TransUnion announces it has teamed up with Leeds United to be part of Challenge90 with the club’s official charity partner, Yorkshire Cancer Research. Challenge90 encourages the Leeds United community to exercise for 90 minutes – the duration of a football match – every week until the end of the football season in May. The aim…
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