Debt Collection News

Latest Debt Collection News

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  • As many as 15% of the UK’s SMEs are rated ‘fragile’ and risk insolvency during the next four years as Covid-19 state support schemes are withdrawn, according to research by Euler Hermes. State support softened the blow of the Covid-19 shock in 2020, reducing the number of fragile SMEs by more than 8,000 in Germany, […]
  • Debt Collection firms that collect monies on behalf of the BNPL (buy now pay later) sector are being targeted. Regulators have been called upon to crack down on ‘buy now, pay later’ companies. A recent scathing report revealed that one in 10 shoppers using the credit services are being chased by debt collectors amid surging […]
  • A Five Step Process to Recovering your Debts in France French debt collection agencies are particularly prevalent due to the country’s strong economic dependence on Small Businesses and Medium enterprises. Recovering business-to-business debts (B2B) takes on considerable importance for debt collection attorneys across France. Contracting out your debt collection affairs to a French third-party Agency […]
  • Forecasts predicting an impending “tsunami” of corporate insolvencies are alarmist, though the need for ongoing alertness remains, according to UK insolvency specialists. Government support measures have allowed insolvency levels to remain stable amid the pandemic, but recent data shows significant surges as crisis-era support is withdrawn. According to statistics released by the Insolvency Service, June 2021 saw a […]
  • Latest quarterly figures from the Insolvency Service have indicated that business insolvency numbers across England & Wales were 31% higher than in Q1 2021 and 4% higher than in Q2 2020. There were 3,116 seasonally adjusted corporate insolvencies in Q2 2021, an increase of 31.4% compared to Q1 2021’s figures of 2,371 and a rise […]
  • Small business owners have been coping with unpaid invoices and inadequate accounting during the pandemic and needed to cover expenses by selling family heirlooms and other valuables. A survey released Tuesday by Wave, an H&R Block company, found that 17% of the 1,008 microbusiness owners with nine employees or less it polled said there are […]
  • The UK’s leading High Street banks are strengthening their Debt Collection teams ahead of the emergency covid loan defaults. The UK’s four largest banks are said to have hired over 750 new Debt Collection staff to their debt recovery units in a major challenge facing them. It is expected there will be a tidal wave […]
  • New data from Intuit QuickBooks has highlighted the burden of late payments on already financially stretched small and medium-sized businesses (SMBs) with the average amount figure owed being £21,373. The figure represents more than two thirds (67%) of typical SMB monthly turnover. The company’s Late Payments Bulletin provides a snapshot of the late payments issues […]
  • The changing face of late payment has lead to nearly half of companies saying that they were lucky to have survived 2020. This is according to new research by Intrum. The research as part of Intrum’s sixth UK edition of the European Payment Report 2021 also found that companies have also taken the opportunity to […]

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