Credit, Collections & Insolvency News
Marston Holdings has introduced a new notice processing and enforcement service that will help councils to effectively enforce contraventions committed by foreign registered vehicles (FRVs) on British roads. The company says that these vehicles are more likely to contravene traffic and parking regulations than drivers of UK registered vehicles as well as being less likely to…
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A new survey of court users by the High Court Enforcement Officers Association (HCEOA), has found that almost 99% support greater freedom of choice – enabling them to use a High Court enforcement route – when recovering outstanding debts. The call from court users comes following significant delays in the County Court system. The vast…
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UK Finance has announced that the national roll-out of the new £100 spending limit for contactless card payments will begin from 15th October 2021. The decision to raise the contactless limit from £45 to £100 was made by HM Treasury and the Financial Conduct Authority following a public consultation and in discussion with both the…
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Insolvency and restructuring trade body R3 is urging Directors of Covid-hit businesses to use the final month of the Government’s furlough scheme to plan for the future and address any financial issues they face. The furlough scheme ends on 30th September, and employers have until 14th October to claim wages for staff who have been…
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Independent invoice financier, Bibby Financial Services (BFS), has announced the appointment of Derek Ryan as Managing Director. Ryan joins BFS with more than 17 years’ experience in commercial finance having held a variety of senior executive, global operations and strategy positions across the financial services sector, including roles in the UK, Germany, Sweden and Indonesia.…
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StepChange Debt Charity Scotland, in partnership with the Scottish Government, has launched The Scotland Debt Guide, a handbook designed to help improve access to free debt advice services for struggling Scots. The Debt Guide launches at a time of widespread financial distress in Scotland. Polling shows thousands of Scots are struggling with debt and are…
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A Peterborough-based mechanics and motor parts supplier has been banned for a total of 25 years after the pair provided false documents to secure £176,000 worth of loans. Adam Hughes received a 13-year disqualification order in the High Court before Judge Barber on 20th July 2021. His business partner, Andrew Wood had signed a 12-year…
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New research by the Joseph Rowntree Foundation has found that over 400 constituencies are set to see over one in three working-age families with children impacted by the planned cut to Universal Credit and Working Tax Credit. The 413 parliamentary constituencies across Great Britain will see over a third of working-age families with children hit…
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Payments using contactless cards have increased as the UK emerged from lockdowns and consumers started spending again according to latest UK Finance figures. The number of purchases made in May via contactless technology doubled compared with the same month a year earlier and was up 50% in May 2019 as contactless payments accounted for 49…
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Self-employed people are pessimistic about their chances of securing a mortgage while four in ten say they have been forced to turn their backs on being their own boss to improve their chances according to the latest research by The Mortgage Lender. The research among 1,000 UK-based self-employed people, who either own their home or…
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Aviva is calling for greater consumer protection from online financial fraud by urging government to include financial scams promoted by paid-for adverts in the scope of the Online Safety Bill. The company’s Fraud Report investigated fraud and financial scams relating to pensions, savings, investments, and insurance has found consumers have low trust in the internet…
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‘Covi Inflation’ is pricing many consumers out of summer spending according to research by Credit Karma. Consumers that planned on treating themselves to staycations, meals out and gym memberships are being priced out of the market, as costs of popular ‘post-lockdown items’ rise at more than double the pace of an already steep inflation rate.…
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Specialist equity release and lifetime mortgage brokers, KIS Finance says that it has seen enquiries for equity release increase by 110% when comparing the first half of 2019 to the first half of 2021. The company’s analysis indicated that the number of enquiries for equity release and lifetime mortgages was steady throughout 2019, then increased quickly during…
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