Industry WIKI

As a legal concept, administration is a procedure under the insolvency laws of a number of common law jurisdictions, similar to receivership or bankruptcy in the United States. It functions as a rescue mechanism for insolvent entities and allows them to carry on running their business. The process – in the United Kingdom colloquially called being "under administration" – is an alternativ

AIM (formerly the Alternative Investment Market) is a sub-market of the London Stock Exchange that was launched on 19 June 1995 as a replacement to the previous Unlisted Securities Market (USM) that had been in operation since 1980. It allows companies that are smaller, less-developed, or want/need a more flexible approach to governance to float shares with a more flexible regulatory sys

Annual percentage rate of charge (APR), corresponding sometimes to a nominal APR and sometimes to an effective APR (EAPR), is the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc. It is a finance charge expressed as an annual rate. Those terms have formal, legal definitions in some countries or legal j

Audit Scotland (Scottish Gaelic: Buidheann-sgrùdaidh na h-Alba) is an independent public body responsible for auditing most of Scotland's public organisations.

In finance, bad debt, occasionally called uncollectible accounts expense, is a monetary amount owed to a creditor that is unlikely to be paid and for which the creditor is not willing to take action to collect for various reasons, often due to the debtor not having the money to pay, for example due to a company going into liquidation or insolvency. A high bad debt rate is caused when a b

A bank walkaway is a decision by a mortgage lender (a bank) to not foreclose

The Commissioners for the Reduction of the National Debt (CRND) is a statutory body of the UK Government, whose main function is the investment and management of government funds. The current Comptroller General is Paul Canty.

The consumer leverage ratio (CLR) is the ratio of total household debt to disposable personal income. The Federal Reserve separately reports household debt service payments as a percentage of disposable personal income. The Bureau of Economic Analysis publishes disposable personal income data.

Credit counseling (known in the United Kingdom as debt counseling) is a process used to help individual debtors overcome their debt through financial education, budgeting, debt management plans (DMPs) – known in the United Kingdom as the individual voluntary arrangement (IVA) – and a variety of other tools with the goal of reducing and ultimately eliminating debt.

A credit history is a record of a borrower's responsible repayment of debts.

The Darlington Economic Campus (DEC), dubbed Number 11 North and Treasury North, is a multi-department government hub in Darlington in the North East of England.

In corporate finance, a debenture is a medium- to long-term debt instrument used by large companies to borrow money at a fixed rate of interest. The legal term "debenture" originally referred to a document that either creates a debt or acknowledges it, but in some countries the term is now used interchangeably with bond, loan stock or note. A debenture is thus like a certificate of loan

A debt buyer is a company, sometimes a collection agency, a private debt collection law firm, or a private investor, that purchases delinquent or charged-off debts from a creditor or lender for a percentage of the face value of the debt based on the potential collectibility of the accounts. The debt buyer can then collect on its own, utilize the services of a third-party collection agenc

Debt collection or cash collection is the process of pursuing payments of money or other agreed-upon value owed to a creditor. The debtors may be individuals or businesses. An organization that specializes in debt collection is known as a collection agency or debt collector. Most collection agencies operate as agents of creditors. They collect debts for a fee or percentage of the total a

Debt consolidation is a form of debt refinancing that entails taking out one loan to pay off many others. This commonly refers to a personal finance process of individuals addressing high consumer debt, but occasionally it can also refer to a country's fiscal approach to consolidate corporate debt or government debt. The process can secure a lower overall interest rate to the entire debt

Debt evasion is the intentional act of trying to avoid attempts by creditors to collect or pursue one's debt. At an elementary level, this includes the refusal to answer one's phone by screening one's calls or by ignoring mailed notices informing the debtor of the debt. In more advanced cases, this includes misleading the creditor to believe the debtor does not reside at the location whe

The Debt Management Office (DMO) of the United Kingdom is the executive agency responsible for debt and cash management for the UK Government, lending to local authorities and managing certain public sector funds.

Debt management plan (DMP) is an agreement between a debtor and a creditor that addresses the terms of an outstanding debt. This commonly refers to a personal finance process of individuals addressing high consumer debt. Debt management plans help reduce outstanding, unsecured debts over time to help the debtor regain control of finances. The process can secure a lower overall interest r

Debt restructuring is a process that allows a private or public company or a sovereign entity facing cash flow problems and financial distress to reduce and renegotiate its delinquent debts to improve or restore liquidity so that it can continue its operations.

The debt snowball method is a debt-reduction strategy, whereby one who owes on more than one account pays off the accounts starting with the smallest balances first, while paying the minimum payment on larger debts. Once the smallest debt is paid off, one proceeds to the next larger debt, and so forth, proceeding to the largest ones last. This method is sometimes contrasted with the deb

In economics, the debt-to-GDP ratio is the ratio of a country's accumulation of government debt (measured in units of currency) to its gross domestic product (GDP) (measured in units of currency per year). A low debt-to-GDP ratio indicates that an economy produces goods and services sufficient to pay back debts without incurring further debt. Geopolitical and economic considerations – in

In the consumer mortgage industry, debt-to-income ratio (DTI) is the percentage of a consumer's monthly gross income that goes toward paying debts. (Speaking precisely, DTIs often cover more than just debts; they can include principal, taxes, fees, and insurance premiums as well. Nevertheless, the term is a set phrase that serves as a convenient, well-understood shorthand.) There are two

The effective interest rate (EIR), effective annual interest rate (EAR), annual equivalent rate (AER) or simply effective rate is the percentage of interest on a loan or financial product if compound interest accumulates in periods different than a year. It is the compound interest payable annually in arrears, based on the nominal interest rate. It is used to compare the interest rates b

The exchequer secretary to the Treasury is a junior ministerial post in His Majesty's Treasury, ranked below the First Lord of the Treasury, the chancellor of the Exchequer, the chief secretary to the Treasury, the paymaster general and the financial secretary to the Treasury, and alongside the economic secretary to the Treasury. It ranks at parliamentary secretary level and the holder d

A country's gross external debt (or foreign debt) is the liabilities that are owed to nonresidents by residents. The debtors can be governments, corporations or citizens. External debt may be denominated in domestic or foreign currency. It includes amounts owed to private commercial banks, foreign governments, or international financial institutions such as the International Monetary

Debt relief, or debt forgiveness, has been practiced in many societies since antiquity. Periodic debt remission was institutionalised in the Ancient Near East and contributed to the stability of its societies. In ancient Greece and Rome the laws were more creditor-friendly and debt cancellation was one of the major demands of the poor, only occasionally implemented by the government. Med

A home equity line of credit (HELOC; /ˈhe̞ːˌlɒk/ HEE-lok) is a revolving type of secured loan in which the lender agrees to lend a maximum amount within an agreed period (called a term), where the collateral is the borrower's property (akin to a second mortgage). Because a home often is a consumer's most valuable asset, many homeowners use their HELOC for major purchases or projects, suc

A home equity loan is a type of loan in which the borrowers use the equity of their home as collateral. The loan amount is determined by the value of the property, and the value of the property is determined by an appraiser from the lending institution.

The House Committee on Finance is a standing committee of the House of Representatives in Nigeria. The committee is responsible for overseeing financial matters in the country, including revenue generation, budget planning, and fiscal policies.

Household debt is the combined debt of all people in a household, including consumer debt and mortgage loans. A significant rise in the level of this debt coincides historically with many severe economic crises and was a cause of the U.S. and subsequent euro area crisis. Several economists have argued that lowering this debt is essential to economic recovery in the U.S. and selected Euro

The Infrastructure and Projects Authority (IPA) was, between 2016 and April 2025, the United Kingdom government's centre of expertise for infrastructure and major projects. The IPA reported to the Cabinet Office and HM Treasury. The core teams included experts in infrastructure, project delivery and project finance who worked with government departments and industry.

Infrastructure UK (IUK) was a division of HM Treasury within the Treasury's Public Services and Growth Directorate, which advised the UK government on the long-term infrastructure needs of the UK and provided commercial expertise to support major projects and programmes between 2010 and 2016.

Sir James Stansfeld, ( STANSS-feeld; 5 March 1820 – 17 February 1898) was a British Radical and Liberal politician and social reformer who served as Under-Secretary of State for India (1866), Financial Secretary to the Treasury (1869–71) and President of the Poor Law Board (1871) before being appointed the first President of the Local Government Board (1871–74 and 1886).

In finance, leverage, also known as gearing, is any technique involving borrowing funds to buy an investment.

A loan guarantee, in finance, is a promise by one party (the guarantor) to assume the debt obligation of a borrower if that borrower defaults. A guarantee can be limited or unlimited, making the guarantor liable for only a portion or all of the debt.

A loan shark is a person who offers loans at interest rates that are extremely high or illegal, has strict terms of collection, and generally operates outside the law, often using the threat of violence or other illegal, aggressive, and extortionate actions when seeking to enforce the satisfaction of the debt. As a consistent or repeated illegal business operation or "racket", loan shark

The London Metal Exchange (LME) is a futures and forwards exchange in London, United Kingdom with the world's largest market in standardised forward contracts, futures contracts and options on base metals. The exchange also offers contracts on ferrous metals and precious metals. The company also allows for cash trading. It offers hedging, worldwide reference pricing, and the option of ph

The London Platinum and Palladium Market (LPPM) is an over-the-counter trading centre for platinum and palladium and a commodity trading association. London has always been a centre for the research in and development of most of the platinum group metals. Trade was established in the early 20th century, typically by existing dealers of gold and silver. The LPPM has been involved in fixin

In the United Kingdom there are at least six lords commissioners of His Majesty's Treasury, serving as a commission for the ancient office of treasurer of the exchequer. The board consists of the first lord of the treasury, the second lord of the treasury, and four or more junior lords acting as whips in the House of Commons to whom this title is usually applied.

Medical debt refers to debt incurred by individuals due to health care costs and related expenses, such as an ambulance ride or the cost of visiting a doctor.

Microcredit is the extension of very small loans (microloans) to borrowers with limited access to traditional credit who typically do not have access to traditional banking services due to a lack of collateral, steady employment, and a verifiable credit history. The primary aim of microcredit is to support entrepreneurship, facilitate self-employment, and alleviate poverty, particularly

Microfinance is the provision of financial services to individuals and small businesses, particularly those with low incomes and limited access to conventional banking and related financial services. It encompasses services such as microcredit, savings, checking accounts, microinsurance, and payment systems.

The National Infrastructure and Service Transformation Authority (NISTA), established in April 2025, is a public agency advising the UK Government on infrastructure delivery and improvement. A joint unit of HM Treasury and the Cabinet Office, it combines the functions of the former National Infrastructure Commission and the Infrastructure and Projects Authority.

The National Infrastructure Commission was an executive agency responsible for providing expert advice to the UK Government on infrastructure challenges facing the UK, between 2015 and April 2025, when it was superseded by the National Infrastructure and Service Transformation Authority (NISTA).

National Savings and Investments (NS&I), formerly called the Post Office Savings Bank and National Savings, is a state-owned savings bank in the United Kingdom, based in London, England.

The National Wealth Fund is a public finance institution of the United Kingdom, created in October 2024 when the UK Infrastructure Bank was refocused and branded as the National Wealth Fund to mobilise private capital for clean energy and industrial transformation, and to support long-term regional growth. It is sponsored by HM Treasury and operates at arm’s length under a Statement of S

Negative equity is a deficit of owner's equity, occurring when the value of an asset used to secure a loan is less than the outstanding balance on the loan. In the United States, assets (particularly real estate, whose loans are mortgages) with negative equity are often referred to as being "underwater", and loans and borrowers with negative equity are said to be "upside down".

In international law, odious debt, also known as illegitimate debt, is a legal theory that says that the national debt incurred by a despotic regime should not be enforceable. Such debts are, thus, considered by this doctrine to be personal debts of the government that incurred them and not debts of the state. In some respects, the concept is analogous to the invalidity of contracts sign

The Office of Tax Simplification was an independent office of HM Treasury, part of the Government of the United Kingdom. The office was created on 20 July 2010 to identify complexities in the tax system burdensome to both businesses and individual taxpayers in order to recommend their reduction. The office was tasked with publishing its findings for the Chancellor of the Exchequer to con

An overdraft occurs when something is withdrawn in excess of what is in a current account. For financial systems, this can be funds in a bank account. In these situations the account is said to be "overdrawn". In the economic system, if there is a prior agreement with the account provider for an overdraft, and the amount overdrawn is within the authorized overdraft limit, then interest i

A payday loan is a short-term unsecured loan, often characterized by high interest rates. These loans are typically designed to cover immediate financial needs and are intended to be repaid on the borrower's next payday.

A Personal Insolvency Arrangement (PIA) is a statutory mechanism in Ireland for individuals who cannot repay their debts as they come due but who wish to avoid bankruptcy. The arrangement is one of the three alternatives authorized under Ireland's Personal Insolvency Act 2012; Debt Settlement Arrangements (DSA) and Debt Relief Notices (DRN) are the other two arrangements. A PIA is a lega

Phantom debt or zombie debt is a debt that is old, defaulted, or not owed and is somehow still being pursued for collection to be paid by the presumed debtor. It generally refers to debt that is more than 3 years old, is long forgotten about or belonged to someone else – like someone with the same name or a deceased parent. The amount owed can grow to hundreds or thousands of dollars mor

In lending, a pre-approval is the pre-qualification for a loan or mortgage of a certain value range.

The Prudential Regulation Authority (PRA) is a United Kingdom financial services regulatory body, formed as one of the successors to the Financial Services Authority (FSA). The authority is responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms. It sets standards and supervises financial institutions at t

The Public Works Loan Board (PWLB) (Welsh: Bwrdd Benthyciadau Gwaith Cyhoeddus) was a statutory body of the UK Government that provided loans to public bodies from the National Loans Fund. In 2020, the PWLB was abolished as a statutory organisation, and its functions were allocated to HM Treasury, where they are discharged through the UK Debt Management Office. The members of the PWLB we

A remortgage (known as refinancing in the United States) is the process of paying off one mortgage with the proceeds from a new mortgage using the same property as security. The term is mainly used commercially in the United Kingdom, though what it describes is not unique to any one country. Often the purpose of switching is to secure a more favorable interest rate from a different lende

Repossession, commonly referred to as repo, is a "self-help" type of action in which the party having the right of ownership of a property takes the property in question back from the party having right of possession without invoking court proceedings. The property may then be sold by either the financial institution or third party sellers.

A strategic default is the decision by a borrower to stop making payments (i.e., to default) on a debt, despite having the financial ability to make the payments.

UK Government Investments (UKGI) is a company owned by the United Kingdom government which combines the former functions of the Shareholder Executive and UK Financial Investments. UKGI manages a portfolio of businesses, including Channel Four Television Corporation and previously NatWest Group.

In finance, unsecured debt refers to any type of debt or general obligation that is not protected by a guarantor, or collateralized by a lien on specific assets of the borrower in the case of a bankruptcy or liquidation or failure to meet the terms for repayment. Unsecured debts are sometimes called signature debt or personal loans. These differ from secured debt such as a mortgage, whic

The Valuation Office Agency was an executive agency of His Majesty's Revenue and Customs until 31 March 2026, at which time it was abolished - scrapped in the Government's press release -with its functions subsumed into HMRC. The terms "Valuation Office(r)" (VO) are still widely used for its functions and staff, although it is no longer an "Agency".

Vendor finance is a form of lending in which a vendor, instead of a bank or financial institution, lends money to be used by the borrower to buy the vendor's products or property. Vendor finance is usually in the form of deferred loans from, or shares subscribed by, the vendor. The vendor often takes shares in the borrowing company. This category of finance is generally used where the ve