Debt Collection News

Latest Debt Collection News

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  • Businesses using company or insolvency laws to mitigate their liabilities have been warned they could face ‘assertive action’. Any unethical which unfairly benefits Businesses at the expense of their customers could face the wrath of the Financial Conduct Authority. The FCA said it planned to act amid a rise in the number of firms developing […]
  • NEARLY three quarters (72 per cent) of small or medium enterprises (SMEs) across Scotland are currently waiting on late payments from customers, according to new research from Barclays surveying 500 UK small business owners. This is significantly higher than the UK average of 58 per cent. For medium sized enterprises with 50 to 249 staff, […]
  • Brexit combined with the coronavirus pandemic has created a double-edged sword for businesses in the UK. It is claimed that its full-scale impact is yet to be fully realised with Economists from Atradius suggesting that UK Business insolvencies will rise by a staggering 33%. Only a recently as last week, UK Debt Collection experts were […]
  • UK’s Small Businesses are under serious threat and must act now according to one industry expert. It has been reported that 440,000 Small Businesses in the UK could be forced out of Business by a current late payment crisis. The Federation of Small Businesses (FSB) has called for urgent government intervention to improve the way […]
  • Debt Collection firms have welcomed the news that the Financial Conduct Authority has completed a consultation on outlawing referral fees for debt packager firms. The news that  a ban is likely to be introduced in the coming months. There is always a spike in borrowing over the christmas period as research shows. Many spend without […]
  • One of the most tiresome aspects of running a Small Business in the UK is chasing unpaid invoices. Over 50% of small business owners have reported that it costs them time and money trying to get paid small Business paid on time. Credit control is often regarded as a time consuming and resource draining for […]
  • International debt rose to a record $226 trillion in 2020 as the world economy was blasted by the unrelenting Covid-19 pandemic. The pandemic caused massive economic waves around the world and is responsible for a deep recession according to the International Monetary Fund (IMF). Global debt rose by 28 percentage points to 256 per cent of gross […]
  • The Government has set out new proposals to reform and simplify regulation of the insolvency sector. The new consultation is inviting views on creating a single regulator for Insolvency Practitioners and extending regulation to firms that offer insolvency services. Key changes to the insolvency industry Key changes set out in the consultation include: establishing a […]
  • The Latest figures released from the Insolvency Service make stark reading. The figures show that the number of businesses in England and Wales that have collapsed due to insolvency rose by 18.7% in November 2021 to a total of 1,674 compared to October 2021’s total of 1,410. More alarmingly, this showed an increase of 87.9% […]

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