Credit, Collections & Insolvency News
The UK’s over-55s are expected to borrow £10 billion more in 2021 as consumer confidence returns to a post-Covid economy, according to new research from equity release lender, more2life, and economics consultancy, Cebr. The research reveals that the total amount of both secured and unsecured debt owed by the over-55s will rise from £226bn in 2020…
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Over seven million people (14%) are worried that they will not be able to afford their council tax bills over the next year, according to new research from the Money Advice Trust. Findings from the charity’s ‘Council Tax After Covid’ report have highlighted that some vulnerable groups are most at risk of falling behind on…
Read moreNew research from Yolt has revealed that 8.7 million consumers (17%) are ‘financially stretched’ following the pandemic. Whilst one in ten (10%) expect to financially struggle in the next 12 months, despite signs of economic recovery, as many households continue to feel the financial impact of the pandemic. Yolt’s research has found that there are many experiences…
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Latest Regional PMI data from NatWest showed an ongoing broad-based recovery in business activity and employment across the UK in June. Rates of growth in business activity generally remained strong, but eased since May in most cases. The rebound in demand for goods and services was accompanied by increasing inflationary pressures, with nine out of…
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Just, the enforcement market integrator has announced the appointment of Jonathan Branchett as Head of Enforcement Partnerships and Performance. Branchett joins the Just team from Bristow & Sutor, where hew was As the former Head of Enforcement. In his new role he will be responsible for managing the largest group of employed enforcement agents in…
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SME funder Bibby Financial Services (BFS) has announced that it has appointed Riana Azam as Regional Head of Corporate to boost its support for businesses in the North of England and Scotland. Azam joins BFS with a wealth of expertise having amassed over 15 years experience in the Invoice Finance and Asset Based Lending sectors in…
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The Money and Mental Health Policy Institute have launched a new best practice guide to help banks and building societies step up efforts to support the growing number of customers affected by gambling harms. The charity’s research shows that banks and building societies can play a crucial role in reducing gambling harms, thanks to the…
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Latest UK Finance data has indicated that outstanding balances on credit card accounts had fallen 12% in a year to £53.3 billion, down from 19% a month earlier. The April figures showed that there were 33.9 million credit cards with balances at the end of the month, this was down 7% from April last year…
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New research byJuniper Research study has predicted that 53% of the world’s population will access digital banking services in 2026 reaching over 4.2 billion digital banking users, from 2.5 billion in 2021. The research identified increased digital transformation efforts as enabling banks to function effectively during the pandemic; justifying the benefits of digital banking and…
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New analysis published in The Big Issue has revealed evictions and repossessions continued throughout lockdown, as campaigners called for urgent action to prevent an avalanche of homelessness this autumn once Covid-related support ends. The Big Issue has pointed to a potential four-pronged attack on the public in the autumn, with an end to the Universal…
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Latest figures from the Insolvency Service have indicated a 19% increase in business insolvencies in England and Wales when compared to May’s figure of 1,014, and rose 62.9% compared to June 2020’s figure of 741. The number of registered company insolvencies in June 2021 was 1,207 this was 63% higher than the number registered in…
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Latest figures from the Insolvency Service have indicated that personal insolvency numbers across England & Wales increased by 15.8% in June 2021. Personal insolvencies rose by 9,836 in June 2021 compared to May’s figure of 8,497, and were 18.8% higher than June 2020’s figure of 8,282. The figures show that there were 735 bankruptcies and…
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Latest figures released by Accountant in Bankruptcy (AIB) have indicated that Scottish business insolvencies rose by 67% in June 2021. The figures show that there were 77 company insolvencies registered in Scotland, this was 67% higher than in June 2020 and 13% higher than in June 2019. This was comprised of 14 compulsory liquidations, 62…
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