Credit, Collections & Insolvency News
Experts have assessed that £5 billion of state-backed government Covid-19 emergency loans are at risk of not being repaid, far less than feared due to the strong economic recovery. Analysis has suggested that between 5% and 10% of SME businesses that have used the government’s £47.4 billion emergency loans support scheme have missed repayments. although…
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Debt management system supplier, Flexys Solutions has announced the appointment of Ahmed Amin to the role of Chief Revenue Officer. Following the recent appointments of Elizabeth Abbott-Stratford to Chief Financial Officer and Dr David Scholefield to Chief Operating Officer, this latest senior-level appointment focuses on scaling revenue as the company moves into the next phase…
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Specialist finance packager and distributor, Pink Pig Loans has announced the appointment of three new Directors to its board to support its ambitious growth plans. Pink Pig Loans provides specialist finance packaging for financial advisers covering a range of product sectors including first-charge, second-charge, and bridging and commercial. The new board Directors will support James…
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Tax and business advisory firm Azets has announced that it has acquired Moore South’s restructuring & insolvency (R&I) team. As part of the deal, current leaders of Moore South’s R&I practice, Duncan Swift and Chris Tate, will move to Azets. The acquisition includes the team’s current clients and will enhance Azets’ restructuring and insolvency national capabilities established…
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Provident Financial customers can now claim compensation for mis-sold loans after the High Court backed a partial repayment scheme. The company has set aside £50 million to meet claims from borrowers who were sold unaffordable loans. The Court agreed to the scheme despite the fact that customers will not get a full refund after the…
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Furlough and forbearance measures helped the UK avoid the spike in loan defaults that were expected at the start of the pandemic, but as they are phased out this year, a recent surge in payment holidays for unsecured loans suggests one in ten borrowers are still concerned about maintaining repayments according to new analysis by…
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The Student Loans Company (SLC) has appointed Audrey McColl to its Executive Leadership Team and Board as Chief Financial Officer (CFO). The Chief Financial Officer is responsible for the Finance, Commercial and Enterprise Risk and Compliance teams to ensure that SLC operates within its agreed budget, has robust risk management and compliance procedures and that…
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The average number of tenants in rent arrears is at its lowest level for ten years research by Paragon Bank has found. The Bank has highlighted that in Q2 2021 each landlord surveyed had an average of 1.3 tenants with outstanding rent payments. This is the lowest number since Q1 2011 when research agency BVA…
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In July the following administration notices have been issued and advertised in the London Gazette for the following companies: 24 LIVE UK LTD ADEO CONSTRUCTION SERVICES LTD ADRECK DIAGNOSTICS LTD ADVANCED GLASS FACADES LTD ALUMINIUM FRANCE INDUSTRIES UK LTD ARVIA TECHNOLOGY LTD AVANTA LONDON LTD BITUMINA INDUSTRIES LTD BRISTOL & LONDON PLC CALVERLEY HOUSE LTD…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in July: “SKELBKITES” ADVERTISING LTD 1 THIRTY3 DESIGN LTD 1ST CALL LOCKSMITHS LTD 1ST CHOICE MANAGEMENT SERVICES LTD 1ST SCAFFOLDING (UK) LTD 2EDDIES TRAVEL SERVICES LTD 3 PIERS BREWERY LTD 5 STAR SITE SERVICES LTD 54…
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In July, Winding Up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: ABBEY FENCING LTD ACOS FE LTD ACUMEN GROUP LTD ADDINGTON EQUESTRIAN 2019 LTD AG SAFEBOOTHS UK LTD AVONHALE LTD BEASONS CONSTRUCTION AND DEVELOPMENT LTD BPL BUILD LTD BUSINESS BRAIN LEADERS LTD COUNTRY BUILD SW LTD DELTA…
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Digital identity specialist GBG has launched RapID, an identity verification solution for small businesses. The solution has been specifically designed to help these businesses cope with the digital acceleration caused by Covid-19 and will help them improve the customer onboarding process and remain compliant. Many small businesses are still undertaking their identity verification checks manually,…
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New research by consumer group, Which? has found that some fraud victims are being left without satisfactory support from banks. The research found that while 83% of victims of fraud or fraud attempts in the past 12 months said they were satisfied overall with how their bank had managed the incident, some customers struggled to…
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