Debt Collection News

Green energy firm Ripple Energy which provided renewable power to over 20,000 customers in the UK has filed notice to appoint administrators. Ripple allowed customers to co-own a wind farm or solar park with “thousands of other budding climate heroes” by purchasing shares. In return, they receive discounted energy from major suppliers like British Gas. […]

A new report from GoCardless, in partnership with the Federation of Small Businesses (FSB), has revealed an escalating late payments crisis threatening UK small businesses. A survey of over 2,000 small Business owners found that 45% are experiencing more late payments than a year ago, while 50% fear the situation will worsen in the next […]

Bristol based debt recovery business which didn’t hand over money is shut down An Insolvency Service investigation found that Encore Capital Group Inc Ltd trading as Encore Debt Recovery failed to fully hand over the money it collected it has been revealed. The Scam debt collectors service was incorporated in late 2021, targeting businesses and […]

Latest data from Money.co.uk has found that on businesses are facing 47-day payment delays. The FSB has described late payments as one of the ‘biggest problems’ facing small businesses and with the Government announcing plans to crack down on late payments with stricter laws to help smaller businesses and grow the UK economy The research […]

In a new report, the Credit Services Association (CSA), the UK trade body for the debt collection and debt purchase sector, has called on the Government to improve its debt collection methods for collecting debts to help service users more effectively and boost collections revenues. The report praises the accomplishments of the Government Debt Management […]

Late payments are the primary culprit for causing cash flow problems for businesses according to two fifths (41%) of UK small and medium-sized enterprises (SMEs) while making sure the bills are paid was an issue for a third (32%) and having access to emergency cash (21%) was also top of the list. That’s according to […]

Annual figures from the Insolvency Service have shown that there were 23,872 registered company insolvencies in England and Wales in 2024 a fall of 5.1% from 2023’s figure of 25,163. The company insolvencies comprised of 18,840 creditors’ voluntary liquidations (CVLs), 3,230 compulsory liquidations, 1,597 administrations, 202 company voluntary arrangements (CVAs) and three receivership appointments. The […]

Didsbury Gin was founded by best friends and gin lovers Liam Manton and Mark Smallwood in 2017, who according to the brand’s website, wanted to ‘take gin to the next level’. A year after founding the brand, the pair won a £75,000 (US$88,952) grant after appearing on BBC television series Dragons’ Den, which in return would […]

BILLIONS of pounds in late payments are owed to self employed tradespeople across the UK, according to new research from Ford Pro. The vehicle manufacturer’s research found delayed or missing payments to tradespeople was reported as the major issue facing sole traders heading into 2025. Tradespeople are owed as much as £3.5 billion in overdue […]