Credit, Collections & Insolvency News
A Newcastle recruitment consultant has been sentenced for a string of offences, including Covid fraud, flouting director disqualifications and running a phoenix company while bankrupt. Lucien Ekamba-Elombe set up a recruitment firm under a similar name to his previous failed company while legally banned from doing so after failing to pay council tax. He secretly…
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Credit Connect has announced its 2026 Industry Leaders list. The Leaders list was announced as part of the inaugural Industry Leaders Dinner at the Eastwood Hall in Nottingham, which is part of the Credit Connect Spring series event. The Spring event series also includes the Commercial Credit & Collections Conference, Credit & Collections Think Tank…
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Aryza, a global provider of end-to-end AI-enabled solutions across the credit and debt lifecycle, has announced that Citizens Advice has agreed to extend its partnership to further deploy Aryza’s digital financial review solution across its debt advice services. Through the partnership, Aryza’s solution will improve the accuracy and completeness of client data, increase overall adviser…
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Latest figures from the Insolvency Service have shown that the number of business insolvencies in England and Wales increased by 2% in April 2026 compared to the previous month rising to 2,085 from 2,037. April’s figure was 3% up on the same month in 2025. The data showed that there were 2,085 business insolvencies. The…
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Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvencies fell by 10% when compared to March 2026 but were 7% higher than in April 2025. The data showed that 10,920 individuals entered insolvency in April 2026. The insolvencies consisted of 701 bankruptcies, 4,033 debt relief orders (DROs) and…
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Latest figures from the Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland increased in April 2026. The data showed that there were 107 company insolvencies registered in Scotland, 6% higher than the number in April 2025. The insolvencies comprised of 53 CVLs, 49 compulsory liquidations and five administrations. There were no CVAs…
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Latest monthly statistics from the Insolvency Service have shown that business insolvencies and personal insolvencies rose in Northern Ireland in April 2026. The data showed that there were 166 personal insolvencies in April, which was 35% higher than in April 2025. The insolvencies consisted of 129 IVAs, 23 bankruptcies and 14 DROs. Business insolvency data…
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A South London man who secured Covid support funds for a construction firm which never traded has been disqualified as a company director for the maximum period of 15 years. Ademilson Nascimento obtained a £46,500 Bounce Back Loan in July 2020 by falsely claiming that his Buildan Construction Ltd company had a turnover of £192,000.…
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Around one in seven consumer insurance customers surveyed either decided against buying insurance or cancelled certain types of cover in the past year, new research from Premium Credit. The research found that 15% of consumers in the past year have cancelled or decided against cover, up from 11% in last year’s Insurance Index. Despite cancelling…
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Energy bills are forecast to rise by £209 to £1,850 a year for a typical dual fuel household from July, according to Cornwall Insight’s final forecast for the July – September 2026 Default Tariff Cap (price cap), released following the close of the observation window on 18th May. The new cap would represent an increase…
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The Government has announced that the Small Business Protections Bill has been introduced to Parliament, aiming to end the scourge of late payments. The Small Business Protections Bill (formally known as the Commercial Payments Bill) delivers the toughest crackdown on late payments in a generation – putting a clear duty on large firms to pay…
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The Government has announced that it will modernise the Consumer Credit Act (CCA) for the first time in over 50 years, giving consumers clearer information and firms the flexibility to innovate. The Government says that consumers who take out loans, credit cards or overdrafts are expected to benefit from clearer information about costs and key…
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Over half (57%) of Scots have experienced problem debt, new research suggests, underlining the scale of financial pressure facing households as a new Scottish Parliament gets underway. New Censuswide polling commissioned by StepChange Scotland reveals 57% of adults in Scotland have a lived experience of problem debt, with almost two in five (38%) saying they…
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