Industry News

Deloitte comments on the Payments Council decision to keep cheques

The Head of Payments Risk at Deloitte Stephen Ley commented on the Payments Council decision to keep cheques and cancel the 2018 deadline by saying;
“The Payments Council’s decision to retain cheques will be welcomed by…

UK economy will remain sub-par over European sovereign debt crisis

According to the latest Ernst & Young ITEM Club report, out the other today, growth in the UK economy will remain sub-par as concerns grow over the European sovereign debt crisis and persistent uncertainty amongst…

Communications, transport and construction industries worst hit by late payments

According to research conducted by LloydsTSB, it found that although the national average of firms experiencing late payments was a staggering 63%, almost two in three, that some firms had worrying exposure to the onset…

Call for legislation amid late payments and cash flow problems escalating

More than two years after the introduction of a code of conduct (The Prompt Payment Code) to crack down on late payment in business a new survey shows that the problem is actually getting worse.
Now…

ICM says ‘Name and Shame’ plans are ‘unworkable’

In line with our own assessments of the Government plans to ‘name and shame’ late payers in our blog post from Wednesday 20th July, the Institute of Credit Management (ICM) has gone one further and…

Cheque U-turn is ‘pointless policy’. Will it effect late payment problems?

Robert Ashton, managing director of ethical chip and pin processor Ethecol, has said that the banks’ recent change of heart over the future of the written personal cheque is ‘pragmatism over pointless policy’.
“Whilst emotive to…

Corporate Credit Debt Recovery Blog – July Debt Statistics

Credit Action – The National Money Education Charity has released its latest month by month figures showing the state of the nation’s personal and sovereign debt.
The Key statistics show:
*New daily dent problem cases dealt with…

Rising fuel prices directly linked to company failures and late payment increases

Although its been mooted for some time, one of the UK’s foremost insolvency firms SFP Group says that there is now irrefutable evidence that the ever rising fuel prices are directly linked to company failures.
The…

Debt Recovery Blog – Businesses are losing out on late payment interest

Businesses struggling with poor cash flow due to late payers are missing a major opportunity to claim late payment interest according to a number of the UK’s law firms.
According to a number of press reports,…

Late Payments, Debt Recovery and words not action from Cabinet

Many would be forgiven for thinking that the latest Naming and Shaming plans of the Government in order to tackle corporate late payers, has all the dragon slaying properties of a chocolate fireguard.
You may detect…

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