As interest rates continue to rise, the impact of recent world events such as Covid, Brexit and the war in Ukraine continue to bite and confirmation last week that the UK has entered a recession, businesses and individuals continue to feel the cost-of-living squeeze. This has had an impact on not only performing obligations under finance agreements, whether they are “regulated” under the Consumer Credit Act 1974 (“CCA”) or “unregulated”, but also the ability of borrowers to obtain further finance to repay and restructure existing borrowing.
Park Square Barristers, 20th February 2024
Source: www.parksquarebarristers.co.uk
