The Latest Breaking News from The Insolvency Service

How Bankruptcies and CCJs Affect Your Credit Score

There’s no easy way to say this, but bankruptcies and County Court Judgements (CCJs) can devastate your credit score - they stay there for 6 years and are a massive red flag to lenders.

inkl · Nov 26, 2023

Number of people taking out debt relief orders reaches highest level since 2009

The number of people needing ‘breathing space’ from their debts also jumped, according to Insolvency Service figures for England and Wales.

The Independent UK · Oct 31, 2023

Number of firms in England and Wales going bust in August rises by a fifth

Insolvency Service reports 19% rise from August 2022’s figures as firms fight high interest rates and falling sales

The Guardian - UK · Sep 15, 2023

11-year boardroom ban for former Carillion finance chief

Zafar Khan served as the finance director for just eight months prior to the 2018 collapse of the outsourcing and construction giant

Birmingham Post · Jul 4, 2023

Ex-Carillion finance chief given 11-year company director ban

Zafar Khan’s disqualification comes more than five years after outsourcing firm’s collapse

The Guardian - UK · Jul 3, 2023

Company insolvencies jump 40% in May to four-year high

Government data from the Insolvency Service showed 2,552 companies entered insolvency during the month.

The Independent UK · Jun 16, 2023

Slaps on the wrist for foreign bosses who scammed Covid lockdown help schemes

Banning cheating directors from running UK companies isn't much of a penalty if they're foreign nationals

Daily Mirror · May 4, 2023

Annual jump in number of people taking up debt ‘breathing space’ schemes

Breathing space schemes give legal protections for people with problem debt.

The Independent UK · Apr 28, 2023

Ice cream shop owner slapped with 10-year ban over £50k Covid loan that was never paid back

Belinda Bakerman submitted false information to claim money which she then transferred to another business

Wales Online · Apr 27, 2023

Ice cream shop owner banned after 'falsely claiming' £50,000 government Covid support loan

An investigation found the owner submitted false information to claim the maximum amount available from the government loan aimed at helping businesses during Covid.

Daily Record · Apr 27, 2023