Stagflation fears: UK businesses brace for jump in late payments during second half of 2022
Intrum’s annual European Payment Report (EPR)*, a survey of 11,000 companies across 29 European countries, shows that businesses are expecting late payments to grow significantly in the coming months, following the rising inflation and interest rates. UK businesses are even less likely than their European peers to make growth a priority.
Double standards on payments: UK businesses squeezing suppliers
Businesses are paying their suppliers even later, despite admitting that they have a responsibility to smaller firms, according to early findings from the 2022 European Payment Report. The annual report by credit management services company Intrum surveyed more than 11,000 businesses in 29 countries. It found the business landscape under pressure from new uncertainty, while struggling to recover from the impact of the Covid years.
Intrum adds strategic appointments as UK business continues growth phase
Credit Management Group Intrum UK has continued to expand its team with the addition of David Price as Compliance Director and David Stranaghan as Strategic Account Manager for its partnership with Sainsbury’s Bank.
Intrum signs agreement to acquire Debt Managers portfolio from the Secure Trust Bank group
Credit management group Intrum UK has agreed to purchase the entire loan portfolio (the ‘Portfolio’) currently owned by Debt Managers (Services) Ltd (‘DMS’ or ‘Debt Managers’) , a subsidiary of Secure Trust Bank PLC (‘Secure Trust Bank’).
Intrum announces collections and recoveries partnership with Sainsbury’s Bank
Credit management group Intrum UK has signed an agreement to manage the collections and recoveries functions for the Sainsbury’s Bank and Argos Financial Services portfolios.
Debt struggles exacerbated by pandemic
One in three people are struggling to keep up with their bills or credit commitments, according to research published today by StepChange Debt Charity. That’s the double the number who were struggling before the pandemic hit.
2022: Collections in the Covid age
Eddie Nott, Managing Director for Intrum in the UK and Ireland, says collections specialists have to be nimble in the face of ongoing uncertainty. As we move into 2022, there are more questions than answers when it comes to Covid and the impact it will have on the economy, our businesses and the work we do with consumers in debt. Uncertainty is becoming the status quo.
Consumers expect to take on additional debt over Christmas period
“Bringing family together and meeting expectations”. These are the reasons why one in four Brits take on additional debt at Christmas, according to Intrum’s annual consumer report conducted in 24 European countries. Although households with families are more likely to take on debt to pay for food and presents than the average consumer, the age group being most likely to do so is Generation Z (age 18-21).
Intrum UK trio shortlisted for Women in Credit Awards
Three members of Intrum UK’s team have been shortlisted for the industry’s Women in Credit Awards. Taking place in London tonight (Thursday 30 September), the Women in Credit Awards are run by Credit Strategy Magazine and are designed to champion the work of a range of incredible women across the entire credit and financial services industry.