Credit, Collections & Insolvency News
Latest figures from the Registry Trust has shown a significant increase in the number and value of monetary judgments (including CCJs) registered against consumers and business in England & Wales compared to the same period last year. The total number of monetary judgments registered in England & Wales rose from 207,976 in Q2 2021 to…
Read more
More than half a million people are working at small companies which are at heightened risk of insolvency, according to analysis by Quantuma using Clarity’s proprietary insolvency propensity model. Companies faced with late payments, rising prices, higher taxes, the fallout from Brexit and pandemic-related staff shortages, around 6,500 SMEs are at higher than average risk…
Read more
Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in March: 108 (DARLINGTON) LTD 1701 ENTERPRISE LTD 1776 GROUP LTD 1821 HOLDINGS LTD 1ST CHOICE ROLLER SHUTTER SERVICES LTD 2 DEGREE C LTD 2 PHYSIQUE’D LTD 2017 EASY EATING LTD 2TEMPTU TRAVEL LTD 3D DIGITAL…
Read more
Loans at Home a subsidiary of Non-Standard Finance (NSF) has entered administration. The doorstep lender has applied for administration following extensive discussions with the Financial Conduct Authority (FCA). In a company statement, NSF said that the Directors of SD Taylor (trading as ‘Loans at Home’) reluctantly concluded that the Loans at Home business is no…
Read more
Financial cooperative, Strathkelvin Credit Union has entered administration. Based in Dunbartonshire, the credit union, founded in January 1996, acts as a financial cooperative offering its members financial security through saving and borrowing. In 2019 SCU recorded a turnover of £86,000. The Credit Union entered administration on 22nd February as a result of regulatory breaches rendering the…
Read more
High-cost lender TFS Loans has collapsed into administration following claims of ‘unaffordable lending.’ The company was a guarantor lender, requiring a family member or friend to cover repayments if the borrower couldn’t. TFS would lend between £3,000 and £15,000 on a one to five-year term basis at between 30% and 70% interest, with a representative…
Read more
Latest statistics from the Insolvency Service have indicated that Northern Irish business insolvencies increased the latest quarterly figures. In December 2021 there were 81 individual insolvencies in Northern Ireland, 48% lower than in December 2020, and 42% lower than December 2019. This consisted of 63 IVAs, 11 DROs and seven bankruptcies. There were 32 company…
Read more