Debt Collection News

Latest Debt Collection News

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  • When Company Bosses at a Scunthorpe based Business started receiving Commercial Debt Collection Agency letters alarm bells rang. Shortly after they found that one of their employees was stealing from the business on a massive scale. Disgraced Company secretary Lisa Crawshaw was found guilty in Grimsby Crown Court and sentenced to five years in prison […]
  • Edinburgh City Council has been forced to write off a whopping £7.26m after Debt Collection efforts have failed to recoup monies owed to them. The accumulated debts were for unpaid parking fines, council tax and motorist bus lane abuse fines. Over 17,000 fixed penalty notices issued by the council went unpaid. Add to this 3,200 […]
  • The Insolvency Service paid out £453.4 million in missing wages and benefits to workers at firms that went bust last year. This is according to new data obtained. The payments made by the agency, which is part of the Department for Business, Energy and Industrial Strategy (BEIS), were at the highest levels in a decade […]
  • New research from Sage, has highlighted the impact of the Covid-19 pandemic with the average SME business now burdened with £173,000 additional debt per year. Ahead of the UK’s 2021 Budget and Economic Recovery Plan, the research highlights the tough conditions that will be facing small and medium-sized businesses (SMEs) well into the second half […]
  • Plans to create a Nationwide Debt Collection service to recoup unpaid covid Business support loans have hit a brick wall according to latest reports. £45 Billion pounds have been lent to Small Businesses to help them through the pandemic over the last year by UK banks. In total 1.47m loans were issued by Commercial Lenders […]
  • According to latest figures, Corporate and Business Insolvencies fell by 27.1% for 2020 in England and Wales. Unfortunately the statistics do not tell the whole story as many businesses in the UK are in distressed situations. There is a huge pile up of unpaid invoices in the UK with Small Businesses and organisations afraid to […]
  • The coronavirus pandemic has exacerbated Business late payments for UK businesses, new figures from the Institute of Directors reveal. Over a third of company directors were polled by the IoD. They said they had faced an increase in late payments during the pandemic. Almost one in ten directors reported that they had experienced significantly more […]
  • Around 630,000 businesses were experiencing significant financial distress in the last quarter of 2020, ahead of the current lockdown, according to research by the restructuring firm Begbies Traynor. The latest research for Q4 2020 recorded the largest numerical quarterly leap (73,000) in financially distressed companies since Q2 2017. This 13% increase (from 557,000 in Q3 […]
  • is is now estimated that over Half a million private renters in the UK are behind on their rent. This information is according to new analysis by Citizens Advice. With a temporary ban on evictions due to expire this weekend,  the news comes as the country enters another period of national lockdown. The new lockdown […]

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