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Trade Body calls on Government to improve its Debt Collection methods

UK debt collections

In a new report, the Credit Services Association (CSA), the UK trade body for the debt collection and debt purchase sector, has called on the Government to improve its debt collection methods for collecting debts to help service users more effectively and boost collections revenues.

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£16.3m boost for HMRC Debt Collection Unit

UK debt collections

According to Treasury estimates, the injection of cash will help HMRC’s debt management team recoup £515million in taxes in 2024-25. Improving HMRC debt management resource The Treasury says it wants to resolve the tax gap between what is owed to the national coffers and what is being collected.

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Offering Mortgage Relief When Payment Holidays End

Fico Collections

million consumers — taking advantage of payment relief, the onus is on us to identify these customers and offer them constructive support through this crisis. With one in six of all mortgage holders — that’s 1.9 Ultimately it is in everyone’s best interest to get as many people as possible back on track with their finances.

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The Power of Amortization for Small Businesses: Unlocking Financial Stability

Burt and Associates

While revenue growth and customer acquisition are often the focus, effective debt management is equally critical. One tool that stands out in managing debts and ensuring steady cash flow is amortization —a concept that can make seemingly insurmountable debts manageable and predictable.

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The State of Small Business Debt in 2024: Insights from Global Data

Burt and Associates

-based businesses face unique challenges : Higher interest rates : The Federal Reserve’s interest rate hikes have made borrowing more expensive, increasing monthly debt obligations. Sector-Specific Debt Growth : Retail, hospitality, and construction businesses are seeing the highest increases in outstanding debt.