Industry News

Bad Debt fears widen as Retail failures continue to increase

Further to last week’s blog on the risk to bad debt levels as retail administrations hit a two year high, further scrutiny of the latest statistics from the Insolvency Service and analysis from KPMG have…

Increased levels of late payments, debt recovery and bankruptcy for hauliers

According to research conducted by the invoice finance firm, Bibby Financial Services, more than 50% of UK logistics firms had to cut costs during Q1 of this year, due to an industry wide poor start…

Debt Industry News – Double dip for construction sector. Insolvencies up

The number of businesses going bankrupt in the UK construction sector has jumped by 19% in Q1 2011 which is up from a total of 796 bankruptcies in the previous quarter (Q4 2010).
The figures, complied…

Office of Fair Trading v rogue Debt Management firms

The Office of Fair Trading this week announced a series of measures relating to the marketing and charging practices employed by credit brokers and debt management companies in response to ongoing concerns over the impact…

Debt Recovery News – Increase in Civil Proceedings fees

A practitioner within the Debt Recovery industry from a firm based in Leeds has said this week that the latest increase in Civil Proceedings fees, implemented in April, will effectively encourage people to run up…

Debt Recovery News – Consumer court debt down £90m

The quarterly value of debt judgments against consumers in England and Wales has fallen some £90m (16.7%) year on year according to statistics released last month (May 24) by Registry Trust Ltd.
The figures show a…

Credit Action releases its debt statistics for June

The money education charity Credit Action has released its debt statistics for June. The monthly release which includes amongst other info: details of the level personal and Government debt in the UK, employment data, amounts…

Debt Recovery News – Experian’s latest Insolvency Index released

The health of the UK’s micro and small business community marginally improved in April, according to Experian, the global information services company and credit reference agency.
Experian’s latest Insolvency Index, published at the end of May,…

Government to name and shame big business late payers?

According to some news agencies and business blogs “Large companies that fail to pay their small suppliers on time will be named and shamed online, the government has announced”.
On first reading this we wondered if…

More aggressive debt recovery for HMRC owed nearly £1bn from Time to Pay?

On the revelation that HM Revenue and Customs (HMRC) is owed nearly £1 billion in outstanding debts from its deferral scheme, concerns on both sides of the debt are increasing.
HMRC is under pressure from Whitehall…

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