Credit, Collections & Insolvency News
With inflation surging to a ten year high, consumers’ financial optimism has taken a hit for the second quarter in a row, according to TransUnion’s latest Consumer Pulse study. In stark contrast to the renewed positivity seen earlier this year, consumers have significant concerns about the future state of their household finances, with confidence dropping from…
Read more
The Financial Conduct Authority (FCA) said there should be no increase in the amount of money that customers can get back if their bank, building society or other investment company collapses. It said the £85,000 limit is enough to cover most cases. However, it suggested the level be reviewed every three years to ensure it…
Read more
Ofwat has finalised its decision which will see Thames Water pay over £11 million to 13,800 business customers and water retailers for errors in its data which led to customers being billed the wrong amount. In addition to the financial package, Thames Water has proposed a series of undertakings which, among others, include strengthening its…
Read more
New plans from the Financial Conduct Authority (FCA) will aim to ensure a higher and more consistent standard of consumer protection for users of financial services and help to stop harm before it happens. The FCA is concerned that currently, financial services do not always work well for consumers. The new plans will fundamentally shift…
Read more
A report from the National Audit Office (NAO) says the Government only put basic anti-fraud checks on the Bounce Back Loan Scheme (BBLS) for small firms once more than £28 billion had already been paid out. The British Business Bank stepped up to deliver the Bounce Back Loan Scheme on behalf of Government to ensure…
Read more
The Financial Conduct Authority (FCA) has appointed Stephen Braviner Roman as General Counsel and as a member of its Executive Committee following an open competition. Roman is expected to join the FCA in February next year. Megan Butler has announced she will step down from her role as Executive Director of Transformation in the spring.…
Read more
Just, the enforcement market integrator has appointed FinTech veteran Mike Dugand as Chief Technology Officer (CTO). Dugand will take his seat on the board of Just in the new year after completing his role at Nottingham Building Society where he has led the transition from legacy systems to SalesForce. With previous leadership experience at Experian,…
Read more
Ecospend, a UK provider of Open Banking APIs, has announced a partnership with London Mutual Credit Union that will enable ‘pay-by-bank’ functionality to its customers. The change will result in real-time money transfers, driving the credit union further towards its vision of achieving a friction-free experience for customers. As the largest credit union in the…
Read more
Scotland lost almost 20,000 small businesses during a single year of the covid crisis, according to official statistics. As a consequence of this dramatic fall in business numbers, the Federation of Small Businesses (FSB) is urging the Scottish Government to outline new measures to aid the recovery of local businesses in the budget next week.…
Read more
In November the following administration notices have been issued and advertised in the London Gazette for the following companies: A & D JOINERY LIMITED ACCUMULATE CAPITAL LIMITED ACCUMULATE LONDON SW LIMITED ACCUMULATE RESIDENCES LIMITED ACTON COACHWORKS SP LIMITED AFFINITI FINANCE LIMITED AMPOWERUK LIMITED ARCHITECTURAL FABRICATIONS LIMITED ARENA AIRCRAFT LIMITED ARENA AVIATION LIMITED ARENA HOLDINGS LIMITED…
Read more
Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in November: 1ST 4 LEISURE LTD 365 MANAGEMENT SERVICES LTD 5 SENSES MANAGEMENT LTD 85 LEISURE LTD 8701 SERVICES LTD 911 DREAM LTD 9BAR NORWICH LTD A & K CARPENTRY & BUILDING SOLUTIONS LTD A &…
Read more
In November Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 2FOLD PRINT LTD. 3XY DEVELOPMENTS LTD 4 FUN LTD ABSOLUTE COMPANY SERVICES LTD AC PARL STREET LTD AFRICA SHIPPING SERVICES LTD ASSURED PAINTING CONTRACTORS LTD ATLAS TRAVEL & CULTURE LTD BETTER CHOICE BUILD COMPANY LTD BIG…
Read moreTwo-fifths of people plan to spend less this Christmas according to research by AJ Bell. The research found that theEast Midlands is the spendiest region. Whilst the average spend on presents is £100-£250, with 28% of people saying that’s their budget, while 26% plan to spend between £250 and £500. Just 5% of people say…
Read more