Industry News

Small Business Debt Recovery / Collection News

This Small Business Debt Recovery / Debt Collection News post was complied from various news sources and brought to you by Corporate Credit Debt Recovery Ltd

Business Debt News – Corporate Insolvencies are on the rise again?

Recent figures published by the Insolvency Service are thought to show that despite a growing economy, rates of personal and corporate insolvencies are on the rise again.
According to reports, UK personal debt is just over…

Even Sir Fred Goodwin’s new firm has cash flow problems

RMJM the Edinburgh based global architecture giant behind the Scottish Parliament and ranked the 5th largest architectural firm in the world has admitted cash flow problems resulting in wages being paid late over the past…

Insolvencies down but overall commercial debt unchanged?

The number of companies falling into insolvency has dropped by 19% according to recently released official figures by the Government’s Insolvency Service.
It was reported that some 633 companies in England and Wales were placed into…

NZ Court rules on £1.1m debt recovery seizure from bankrupt Briton

New Zealand police have uncovered an impressive hoard of gold bars, silver coins and various foreign currencies worth some £1.1m, hidden in secret compartments in the home of a retired UK psychiatrist who was declared…

HMRC reveals increase in bad debts to £6.4billion

The amount of money owed to the taxman, that HM Revenue and Customs (HMRC) no longer thinks it will recover, i.e. bad debt, has jumped by 40% in the last 12 months alone from £4.5bn…

OFT crackdown on illegal cold-calling in debt management sector

The OFT (Office of Fair Trading) has taken direct action against the lead generation firm Compensation Professionals Network Ltd (CPN) as part of a targeted crackdown on illegal cold-calling practices within the debt management sector….

Premier Foods to sell meat free Quorn to reduce debt

Premier Foods is hoping to knock a ‘meaty’ chunk off its enormous £1.4bn debt mountain through the £230million sale of its vegetarian food brand Quorn as talks to complete the sale were said to be…

Lloyds Banking Group exposed to more Bad Debt

Lloyds Banking Group has warned markets it was facing a bigger than expected hit as the scale of Ireland’s economic troubles worsened and as a result Lloyds share price was down as much as 6%…

Irish couple owe €800m to banks after property spending spree

Recent reports in the press have highlighted an eye watering debt level that would scare most Blue Chip businesses. According to reports, Brian and Mary Pat O’Donnell have claimed the Bank of Ireland is attempting…

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