Credit, Collections & Insolvency News
One in five of the 64 profit warnings issued by UK-listed companies during Q3 2025 cited the impact of weaker consumer confidence, the highest proportion recorded for this cause since 2022 and up from just 6% during the same period last year, according to EY-Parthenon’s latest Profit Warnings report. While 19% of all profit warnings referenced falling…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies decreased by 3% in September 2025 to a total of 11,101 compared to the August 2025 figure of 11,387 and increased by 7% compared to the September 2024 figure of 10,401. The personal insolvencies consisted of 622 bankruptcies, 3,985…
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Latest figures from the Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland increased in September 2025. The data showed that there were 103 business insolvencies registered, 41% higher than the number in September 2024. The insolvencies comprised of 50 CVLs, 48 compulsory liquidations and five administrations. There were no CVAs or receivership…
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Latest monthly statistics from the Insolvency Service show that personal insolvencies fell in Northern Ireland in September 2025, whilst business insolvencies remained at the same level. The data showed there were 108 personal insolvencies, which was 30% lower than in September 2024. The insolvencies comprised of 71 IVAs, 12 bankruptcies and 25 DROs. Business insolvency data…
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Begbies Traynor has announced it has added to its team in Glasgow with the appointment of George Lafferty as Director. Lafferty joins the leading professional services firm from another Glasgow insolvency firm, where he was insolvency director. He has previously held senior positions with other well-known insolvency firms in the city. During his extensive career,…
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The Financial Conduct Authority (FCA) has urged banks and payment firms to enhance controls against romance fraud. The FCA has found examples of banks going to significant lengths to protect those at risk of romance fraud. But the regulator also uncovered missed opportunities to prevent these scams, which cost victims £106 million last year. One…
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The UK economy grew by 0.1 per cent in August, according lates to the Office for National Statistics (ONS) data, after contracting by 0.1 per cent in July. The data comes ahead of the Budget next month and new forecasts by the Institute for Fiscal Studies (IFS) which have said that the Chancellor Rachel Reeves…
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Quarterly data from the Bank of England has found that lenders reported the availability of both secured and unsecured credit to households increased in the three months to end-August 2025 (Q3) and is expected to increase over the next three months to end-November 2025. Household demand for secured and unsecured lending for house purchase remained…
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Latest data from UK Finance has found that there were 415 million credit card transactions in July, 2.4 per cent more than in July 2024. The total spend of £22.8 billion was 2.1 per cent higher than July 2024. Outstanding balances on credit card accounts have increased by 7.5 per cent over the twelve months…
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A quarter (25%) of households will pay as much as four times more for the heat they use between now and 1st January 1st, by opting for a plug-in electric heater over gas central heating, according to new research by Utilita. The data reveals households still opt for an electric heater, despite the running costs…
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FinTech Scotland has announced it has appointed Aleks Tomczyk as its new Chief Executive Officer (CEO). Tomczyk replaces Nicola Anderson, who will step down at the end of 2025 to take up new senior director position with Scottish Enterprise. Tomczyk will start the role with immediate effect as designate CEO, to work with Anderson over…
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Confidence in the UK’s ability to regulate fraud has collapsed to a historic low as the payments industry grapples with an explosion in AI-powered attacks, according to a comprehensive three-year analysis revealing the steepest decline in regulatory trust on record. according to analysis by The Payments Association. The research reveals a significant decline in confidence in…
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Vanquis has announced the launch of the Vanquis Benefits Checker, a new digital tool designed to help customers quickly and easily identify benefits and social tariffs they may be entitled to, ensuring fewer households miss out on vital financial support. £24.1 billion of income-related benefits and social tariffs in Great Britain go unclaimed every year.…
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