Most individuals are stuck on this question. They think it's a simple task of going forward and obtaining a County Court Judgement and that they have reached the end of that road.
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There are different types of credit risk, but my experience stems from retail banking, specifically for automotive finance and mortgage companies. After all, in my early days, I used to repossess cars and houses.
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The decision of the United Kingdom to exit the European Union, popularly known as Brexit, has generated significant concerns about its consequences on productivity.
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Unemployment is a pressing issue that affects individuals and economies worldwide. In the United Kingdom, recent unemployment statistics shed light on the long-term effects of sickness and its challenges for job seekers.
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The year began with unprecedented financial challenges for individuals and families across the UK, according to a report released by Citizens Advice. As the cost-of-living crisis intensifies, the charity has witnessed an alarming surge in the number of people seeking assistance.
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Debt restructuring can be a lifeline for individuals and businesses grappling with financial challenges. It offers an opportunity to renegotiate payment terms, reduce interest rates, and ultimately regain control over one's finances.
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With the closure of the Energy Bill Relief Scheme, businesses and public sector organisations that have benefited from discounted wholesale gas and electricity prices are now facing a new financial landscape. This scheme, introduced in September 2022, aimed to alleviate the burden of energy costs for eligible participants. In this blog, we will examine the potential financial implications of the scheme's end and discuss strategies for mitigating any adverse effects.
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Unless you have a contract which stipulates late payment interest as part of your contract, I would encourage any business to optimise the government legislation which applies interest and late payment clauses on top of your outstanding invoices.
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The global financial crisis of 2008 left a devastating impact on the world's economy. One of the significant reasons for the crisis was the unethical practices of financial institutions, which led to a loss of trust among customers. As a result, regulators started imposing stricter regulations on financial institutions to restore confidence in the industry. In the UK, the Financial Conduct Authority (FCA) regulate financial services, and one of its initiatives was the introduction of Treating Customers Fairly (TCF) in 2007.
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Last month, Time Finance published a survey in which around 20% of their clients turned to them as they were concerned about not damaging client relationships.
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