Credit, Collections & Insolvency News
Latest data from the Office for National Statistics (ONS has shown working mothers lose an average of £65,618 in pay by the time their first child turns five, as the ‘motherhood penalty’ impacts their financial security. Women’s earnings fall an average of 42%, or £1,051 a month, compared to what they were making a year…
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Business volumes in the financial services (FS) sector fell at the quickest rate since June 2020 in the third quarter of 2025, according to the latest CBI data. Despite the sharp deterioration in activity, sentiment was broadly flat in the three months to September, marking an improvement compared with the previous quarter’s steep drop. The…
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A Manchester-based company has been shut down after investigations revealed it was acting as a front to enable unlicensed insolvency activities previously carried out by another firm. Davis Acquisitions Ltd became the director of 78 client companies previously associated with Save Consultants Ltd, allowing directors to transfer control and avoid formal insolvency proceedings. Websites of…
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Data On Demand has announced it has appointed Denise Crossley to its board. Crossley is the former Group Chief Executive Officer and current Non-Executive Director (NED) of Lantern Group and served for more than 12 years as a Non-Executive Director of the Credit Services Association (CSA). She brings extensive experience in debt recovery, operational governance…
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New data from Purbeck Insurance Services has found that loans to small and medium-sized enterprises are showing record levels of funding being secured, along with a strong demand for personal guarantee insurance (PGI) protection for business owners. The data shows the average loan secured has risen to £289,827 from £204,035 in Q3 2024 – a 42%…
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A Freedom of Information request by Which? has found that Revolut and Monzo have emerged as the top banks for fraud complaints filed with the Financial Ombudsman Service (FOS). Revolut received 1,875 complaints, while Monzo had 1,063. The data is split between authorised push payment (APP) fraud and other scam or fraud complaints. APP fraud involves…
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The percentage of small business owners predicting growth has fallen for the fourth consecutive Quarter to a new five-year low (25%) – and in every industry sector, the percentage of enterprises predicting growth is down on the start of the year, according to new tracking research from Novuna Business Finance. Following last summer’s General Election…
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Households with £2,000 in savings are around 60% less likely to fall behind on household bills, according to new research from the University of Bristol’s Personal Finance Research Centre, commissioned by the Building Societies Association (BSA). The study, which followed thousands of UK households over a decade, provides new evidence that savings play a crucial…
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Latest data from Shawbrook has found that people are £224 worse off each month compared to last year, as they continue to suffer the consequences of the cost of living crisis. Nearly 40 per cent of people confirmed they were worse off compared to last year, with women being affected in particular, with 43 per…
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New research by UK Finance has found that more people are now using digital payments, with rising use of in-app purchases, digital wallets, and Buy Now Pay Later for shopping. At the same time, cash payments have again fallen. These trends indicate that people are increasingly opting for digital payment options, a trend that is…
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National Energy Action says 58% of households expect to cut heating use as typical annual dual-fuel bill increases to £1,755. Polling from National Energy Action with YouGov has found that people with health conditions expect to ration their heating this winter, and many prepayment meter households have run out of credit at least once in…
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The UK economy grew just 0.3% in the second quarter (Q2), down from 0.7 per cent in the first, according to latest Office for National Statistics (ONS) Growth slowed from 0.7% in Q1, with services up 0.4% and construction up 1.0%, offset by a 0.8% fall in production. The figures show resilience but also highlight…
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The Institute of Directors’ (IoD) latest Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, fell to -74 in September 2025 from -61 in August. This exceeds the recent record low of -72 in July 2025 and marks the lowest reading of the Index since its introduction in July 2016.…
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