Credit, Collections & Insolvency News
More than £1 billion in incorrect Universal Credit (UC) payments have been blocked by the Department for Work and Pensions (DWP) in a drive to stop people falling into financial difficulties. The milestone was reached after a programme to review payments was ramped up last summer, with more than one million cases now looked at.…
Read more
Energy regulator Ofgem has announced a 7% reduction of the energy price cap for the period covering July to September 2025. A recent fall in wholesale prices is the main driver of the overall reduction, accounting for around 90% of the fall. The remainder is primarily due to changes to the operating cost allowances energy…
Read more
Credit Connect Media has announced its inaugural 2025 Industry Leaders list. The Leaders list will be supported by an in-person launch at the Spring event series, which includes the Commercial Credit & Collections Conference, Credit & Collections Think Tank and Industry Awards that will follow in the evening. The Industry Leaders list is an annual…
Read more
UK inflation rose more than expected to a 15-month high of 3.5 per cent in April, driven by higher household bills, according to the Office for National Statistics (ONS). The rise was up on March’s 2.6 per cent and also higher than the 3.3 per cent figure predicted by analysts Economists stated the increase was…
Read more
In April 2025, the number of registered company insolvencies in England and Wales was 2,053, 3% higher than in March 2025 (1,996) but 5% lower than April 2024 (2,163) with the construction industry experiencing the highest number of insolvencies in the 12 months to March 2025 at 4,111, making up 17% of all industry cases. James…
Read more
Latest monthly figures from the Insolvency Service for England & Wales have indicated that personal insolvency figures increased by 7.9% in April 2025 to a total of 10,012 compared to March 2025’s total of 9,282, and increased by 4.4% compared to April 2024’s total of 9,586. The personal insolvencies consisted of 589 bankruptcies, 3,837 debt…
Read more
Latest figures from Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland declined by 7% in April 2025. The data showed that there were,there were 101 company insolvencies registered in Scotland, 7% lower than the number in April 2024. The total number of business insolvencies was comprised of 47 CVLs, 51 compulsory liquidations…
Read more
Latest monthly statistics from the Insolvency Service show that in April 2025, personal insolvencies increased while business insolvencies declined in Northern Ireland. The data showed that there were 123 individual insolvencies in Northern Ireland. This was 10% higher than in April 2024. There were 95 IVAs, 16 bankruptcies and 12 DROs. Business insolvency data shows there were 30…
Read more
The Government has announced new legislation will see Buy Now Pay Later (BPNL) lenders fully regulated by the Financial Conduct Authority (FCA), meaning firms will be required to conduct affordability checks on consumers before offering loans. The announcement is backed by brand new reforms as part of the new Consumer Credit Act. The new regulation…
Read more
Credit Connect has announced the shortlist of companies and partnerships for this year’s second annual Credit & Collections Industry Awards. The finalists for this year’s awards consist of 97 entrants (whittled down from over 100 entries) from 73 companies within the shortlist, there are 23 partnerships in the running to win across the 20 categories.…
Read more
Credit Connect Media has announced that it will launch a new Industry Leaders list at its Spring industry events: Credit & Collections Think Tank and the Commercial Credit & Collections Conference. The networking events will be followed by the Credit & Collections Industry Awards on Thursday 22nd May in York. The Industry Leaders list recognises…
Read more
The 2025 Credit & Collections Technology Awards have opened for entries. Launched in 2017, the ninth annual awards seek to recognise excellence in credit and collections technology. The Credit & Collection Technology Awards powered by Credit Connect are judged by independently selected judges from across the industry, who have the enviable task of identifying the…
Read more
New figures have revealed that the overwhelming majority (91%) of people are still grappling with money struggles as a result of the cost of living crisis. This is equal to around 63.1 million people feeling the impact of the ongoing financial squeeze, highlighting its continuing toll on UK households, and that many are in need…
Read more