Credit, Collections & Insolvency News
New research from Compare the Market has revealed that almost three-quarters of people with multiple forms of debt (72%) say they find it difficult to stay on top of their repayments. On average, people in the UK with multiple debts owe £7,296 in total and have been paying them off simultaneously for nearly three and…
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Millions of households will have to pay higher water bills than previously announced, after five water companies appealed to the Competition and Markets Authority (CMA) regarding Ofwat’s price determinations. Five companies – Anglian Water, Northumbrian Water, South East Water, Southern Water, and Wessex Water – argued that Ofwat’s decision left them unable to meet the…
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It would now take 52 years’ worth of typical earnings – £1.3 million in total – to move from the middle to the top of the wealth distribution, as wealth gaps continue to grow across Britain, according to new research from the Resolution Foundation. A new report examined the scale and distribution of household wealth…
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New research by Thinkmoney has revealed that the average household is set to spend £787 on the festive season an increase of £87 on last year. Despite spending more, many feel they are getting less, and some would rather skip the holiday altogether: almost a third of people (30%) say they would cancel or delay…
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The Government is being urged to act quickly to prevent delays in the County Court Bailiff system and changes to County Court policy that negatively impact the rented housing sector. The call comes as new research shows that the delays are affecting the supply of rental properties and costing landlords thousands of pounds, as well…
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The Financial Conduct Authority (FCA) has this afternoon published its consultation on the motor finance compensation scheme. It estimates that, on average, customers due compensation will be eligible for £700 payouts on an expected 14 million unfair motor finance agreements, which could start next year, under an industry-wide compensation scheme proposed. Based on the number of…
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In September, Winding Up Petitions (Companies) were issued and advertised in the London Gazette for the following companies: (UK) W1G LIMITED 10 MARKET PLACE LIMITED 2471 CONSULTANCY LIMITED 4 COUNTIES SOLUTIONS LTD A K L TRADING LTD A PLUS A CIVILS AND GROUNDWORKS LIMITED A.E.ROBERTS(FRUITGROWER & NURSERYMAN)LIMITED A&L SOURCING LTD A2B RECRUITMENT PERSONNEL LTD A6IX…
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In September, the following administration notices were issued and advertised in the London Gazette for the following companies: 713 EMMERSON LIMITED AIRROC LIMITED ALEXANDER AND JAMES LIMITED ALTEGRA ACCESS & SECURITY SYSTEMS LIMITED ALTEGRA INTEGRATED SOLUTIONS LIMITED ALUMINIUM CASTINGS LIMITED AMMEGEN LIMITED ANSADOR LIMITED ARAMIT PROPERTIES LTD ARDMORE CONSTRUCTION LIMITED ARGENTEX CAPITAL LIMITED ARRANPAUL AUDIO…
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4D Contact has announced that it has appointed Martin Kirby as its new Non-Executive Director. Kirby has over 30 years of leadership experience across Business Stream, Kier Group, Adecco UK, and Bupa Healthcare. Alongside his MBA from INSEAD, Martin is a Fellow of the Chartered Institute of Credit Management (FCICM) and an active member of its…
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Advisory services specialist the Dains Group has acquired Curo. Curo was founded in 2005 by Anna Madden and Julia Gallagher, who first met whilst working together at a ‘big four’ firm. The Curo team, based in Bromsgrove, will continue to operate under the leadership of Anna Madden (Head of Audit) and Julia Gallagher (Head of…
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The Financial Conduct Authority (FCA), Solicitors Regulation Authority (SRA), Information Commissioner’s Office (ICO) and the Advertising Standards Authority (ASA) are joining together to tackle misleading advertising and inadequate information provided by some claims management companies (CMCs) and law firms working on motor finance claims, and the risk that excessive fees are charged to clients. …
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The Cumberland Building Society has announced that it has appointed Stuart Miller will take on the role as its new Chief Executive Officer (CEO), subject to regulatory approval. Joining from Newcastle Building Society, Miller brings over 38 years’ experience in financial services and will succeed Des Moore in 2026, following eight years of impactful leadership…
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Consumer confidence in the UK economy fell during the last quarter, reaching the lowest point so far this year, according to KPMG’s latest Consumer Pulse survey. KPMG’s poll of 3000 UK consumers saw the number of people feeling that the economy is worsening increase from 51% to 62% in the last three months – and…
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