Credit, Collections & Insolvency News
Latest ONS figures have highlighted that private renters on median income could expect to spend 23% of their income on a median-priced rented home in England. These figures are down from a recent high of 26.3% in 2016 because recently average wages have grown faster than average rents. The figures showed that East Midlands and North…
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Consumers have slashed spending as worries about winter of prices rises grow according to new research by AJ Bell. The research found that 59% of people are already making cutbacks amid rising costs with a quarter of the poorest households think cutting back will keep their finances on track. Rising energy bills and food costs…
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The Universal Credit cut will worsen rent arrears crisis according to the National Residential Landlords Association (NRLA) The NRLA says that with the Government pressing ahead with a planned cut to Universal Credit of £20 per week, the level of welfare support which had been increased in light of the impact of the pandemic on…
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SME leaders plan to invest £85,000 on average in new digital technologies and systems over the next 12 months, indicating Covid-19 has sparked a longer-term shift to digital among UK businesses, according to new research by Nucleus Commercial Finance. Expected digital spend climbs to £125,000 among younger, more tech-savvy SME leaders (those aged 18-34), compared…
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Regional accountancy and business advisor to SMEs, Azets has promoted Richard Monkhouse to Partner in its Kettering office. Monkhouse joined the firm’s Peterborough office in November 2014 before moving to the Kettering office in January 2021. He leads the team there on a range of external audits, including charities, owner manager business, UK and overseas…
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Ofwat has published the results of its customer satisfaction and experience for water and wastewater companies in England and Wales over the last year. The top performers when it comes to customer satisfaction are Portsmouth Water, followed by Wessex Water, Northumbrian Water, with Dŵr Cymru coming in at fourth place. Thames Water are bottom of…
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Research by Buy Now Pay Later (BNPL) platform Butter, has found that the majority of UK consumers would like to see the option to spread the cost of purchase become more widely available. BNPL enables consumers to buy products while deferring the payment for a later date, often repayable in monthly instalments. In Butter’s case,…
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The Government will today (Wednesday 6th October) withdraw £20 a week in support from Universal Credit claimants in a move that debt charity, StepChange says will have devastating consequences for its clients. Before today’s cut, among StepChange clients who rely on Universal Credit, the majority (59%) had more income than outgoings each month. Now, just…
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A new business service supporting companies looking to improve sustainable cash generation from the Order to Cash process has launched. POP OTC is a UK-based SaaS business, has launchedPOP Collect a solution that includes detailed, automated reporting across credit risk, invoicing, payment terms, disputes, collections, customer performance, and many other areas of business intelligence, with…
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Research by estate and lettings agent, Barrows and Forrester, has revealed that rental demand has continued to climb across the vast majority of major UK cities during Q3, as a slow but steady return to the workplace, amongst other things, spurs a greater demand for rental homes within major urban areas. The Barrows and Forrester…
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Finance providers are now able to use LendingMetrics’ Auto Decision Platform to call Credit Kudos data for use with assisted decisioning. Providers can now utilise ADP to use the data available to them from Credit Kudos’ suite of products appropriately in their decisioning, such as Open Banking data which includes credit scoring, effectively using financial…
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In September the following administration notices have been issued and advertised in the London Gazette for the following companies: 32 WELLINGTON LTD A F SMART REPAIRS LTD ADS JOINERY DESIGN LTD ADVANCIS LTD AGUA LONDON LTD ALLIED GLAZING SYSTEMS LTD ALTITUDE SELECT LTD ARTISAN GROUP FACILITIES MANAGEMENT LTD ARTISAN H1 LTD AVOCET FACULTIES LTD B…
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In September Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: ADVANCED INTEGRATED SERVICES LTD ASHFORD DEVELOPMENTS EAST ANGLIA LTD AVANTIS LIVING LTD BROAD ENVIRONMENTAL LTD CARTER HAYNES LTD CG NATION LTD CGB PROJECTS LTD COMMUNITY R4C LTD CONSTRUCTION ONE LTD D.EASY SERVICES LTD DPG CONCEPTS LTD…
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