Credit, Collections & Insolvency News
The director of a century-old Scottish machinery firm which went into administration last year has been banned after failing to declare more than £1.5 million in VAT. David Smith, was the director of FB Realisations Limited, which was known for decades as Balgownie Limited. However, for more than three years between 2019 and 2022, Smith…
Read more
Halton Housing has announced an new partnership with financial wellbeing provider Money Wellness to support tenants who are struggling with money worries, such as rent arrears, debt, or a sudden drop in income. Through the partnership, Halton Housing tenants will be able to access free, confidential advice from Money Wellness. Their expert advisers will help…
Read more
The National Association of Commercial Finance Brokers (NACFB) has announced the appointment of Josh Levy, CEO of Ultimate Finance, as a Non-Executive Patron Director. Levy’s three-year term commenced this July and marks the latest in a series of strategic board appointments designed to strengthen the Association’s leadership and long-term vision. As CEO of specialist lender…
Read more
A new Business Trends report from BDO, the business advisory and accountancy firm, has found that business optimism in the manufacturing sector is at its highest level in nine months. BDO’s Optimism Index rose to 91.96 in July, up from 91.58 in June, following nine consecutive months of subdued business sentiment since the Autumn Budget.…
Read more
Data from the British Retail Consortium (BRC) and KPMG shows that retail sales in the UK increased by 2.5% year on year in July, with this driven by warm weather and major sporting events. Total retail sales increased by 2.5% year on year in July, against a growth of 0.5% in July 2024. This was…
Read more
The Government has issued a reminder to eligible households encouraged to check they are named on their electricity bill to automatically benefit from the Warm Home Discount this winter. Millions could save £150 on their electricity bills this winter. Every household where the billpayer receives an eligible means-tested benefit will now be in line for…
Read more
Money Advice Liaison Group (MALG) has announcedunced the appointment of Muna Yassin MBE and Jason Wassell to its board. Yassin is CEO of Rooted Finance and Wassell is CEO of the Consumer Credit Trade Association (CCTA). This latest announcement follows the recent appointments of MALG Chair, Fiona Hoyle of Finance and Leasing Association, and new…
Read more
The Financial Conduct Authority (FCA) has issued a warning over scammers posing as car finance lenders, highlighting concerns over fraudsters offering fake compensation in exchange for personal details, such as names, addresses, birth dates and bank information. The regulator clarified that no car finance compensation scheme is currently in place, despite recent announcements about potential…
Read more
New research from Scottish Widows has revealed that a quarter (5.7 million) of working-age adults don’t believe they’ll ever be financially independent. This lack of financial independence is especially prevalent among younger people, renters, and individuals with disabilities. And for many, key markers of independence like being debt free or having emergency savings, feel unattainable. The…
Read more
Almost two-thirds (61%) of SME finance brokers report submitting over half of their loan applications to alternative lenders in the last four weeks, according to research by Iwoca. Iwoca says that the shift underlines a change in business attitudes, with demand for modern, tailored financial solutions now outpacing traditional banking options. Speed of decision-making is…
Read more
Tandem Bank has announced that it has appointed David Shrimpton-Davis as its new Managing Director for its Motor Finance division. Shrimpton-Davis brings with him deep rooted experience in leading and growing a motor finance business, having formerly led Moneybar, the motor finance arm of Vanquis Banking Group. Shrimpton-Davis also brings a wealth of operational and…
Read more
New data from Lloyds has shown that thousands of football fans have been scammed, with football fans are being urged to guard to against fraud when buying match tickets for the upcoming Premier League season . The data reveals that an estimated £2.5 million has been lost to football ticket fraud over the past two…
Read more
Latest British Retail Consortium data has shown that total UK footfall decreased by 0.4% in July (YoY), up from -1.8% in June. High Street footfall decreased by 1.7% in July (YoY), up from -3.0% in June whilst Retail Park footfall increased by 1.7% in July (YoY), up from -1.1% in June. Shopping Centre footfall decreased by 0.3% in July (YoY), up from -1.6%…
Read more