UK debt collections

MAY 23, 2022

Trade Credit insurers Allianz Trade have predicted that Business insolvencies will skyrocket. They predict company insolvencies will rise by a huge 37% this year. This would see the UK become the first big European economy to reach pre-pandemic levels of corporate insolvencies.

Trade 59

Trade Construction Government 59

UK debt collections

JUNE 1, 2022

Debt Collection Agencies could help save thousands of Small Businesses in the UK it is claimed. Almost 500,000 Small Businesses and SME’s in the UK are facing the real prospect of going bust. History shows that taking professional debt collection action can help save the number of Small Businesses from going bust.

Collection Agencies 89

Collection Agencies Collections Agency Collections Government 89

UK debt collections

AUGUST 16, 2022

The number of businesses in critical distress has increased by 37% in the past year. This is according to financial data from insolvency specialists Begbies Traynor. The latest Begbies Traynor Red Flag Alert report has revealed the financial strain continuing to be faced by thousands of British businesses. Support Services.

Manufacturing 96

Manufacturing Retail Government Construction 96

UK debt collections

AUGUST 5, 2022

Businesses are being urged to take action to collect unpaid invoices as a new UK recession in on the horizon. The latest setback fro the UK economy has been touted as the “final straw” for thousands of small businesses across the country. It also has predicted that inflation would surpass 13%.

Collections 52

Collections Banks Government Collection Agencies 52

UK debt collections

JANUARY 17, 2022

Brexit combined with the coronavirus pandemic has created a double-edged sword for businesses in the UK. It is claimed that its full-scale impact is yet to be fully realised with Economists from Atradius suggesting that UK Business insolvencies will rise by a staggering 33%.

Trade 64

Trade Manufacturing Retail Collections 64

UK debt collections

SEPTEMBER 11, 2020

As the United Kingdom continues to ease its Coronavirus restrictions , 54% of current actively trading Businesses are facing piles of unpaid invoices. The survey which was given the title ‘The Business impact of Coronavirus’ has just published their findings. However this is down from the high of 38% in mid June.

Collection Agencies 102

Collection Agencies Collections Agency Trade Collections 102

UK debt collections

JUNE 9, 2022

As the UK’s economic situation continues to deteriorate, businesses in Yorkshire face a front-line battle against invoice late payment. Many Yorkshire based Businesses are starting to show signs of increasing financial problems. Yorkshire is the biggest county in the UK. This represents just under £1.4m last month.

Collection Agencies 75

Collection Agencies Collections Agency Collections Trade 75

UK debt collections

DECEMBER 15, 2021

Leading UK Insolvency Experts Begbies Traynor have reported of a increase use of their services. The Insolvency Firm which assists financially struggling businesses to recover saw revenue increase by 39% from 37.5m Thousands of small businesses go bust every year by not taking direct action. over the period.

Acquisition 52

Acquisition Government Collection Agencies Collections Agency 52

UK debt collections

FEBRUARY 16, 2022

Small Business Debt Collection has never been more important as the UK economy continues to recover from the pandemic. Regardless of the damage covid has caused, the problem of small businesses not getting paid is nothing new. Small Business Debt Collection is growing across the UK.

Collections 93

Collections Collection Agencies Collections Agency Creditors 93

UK debt collections

MARCH 24, 2021

Debt owed to the HMRC from UK Businesses and tax payers has now trebled to reach £65.5bn from £19.3bn in 2019. There has been speculation that the moratorium may be extended beyond the current 31 March 2021 deadline, as lockdown restrictions continue to impact businesses and individuals.

Collections 64

Collections Unsecured Creditor Creditors Government 64

UK debt collections

OCTOBER 14, 2021

As the instrumental player in the UK’s economy, SME’s turnover turnover is estimated at £2.2trillion annually. Tackling the issue of late payments is critical in enabling small businesses to reach their maximum potential. Not only does it improve their growth, but the growth of the UK economy.

Collection Agencies 104

Collection Agencies Collections Agency Collections Bankruptcy 104

UK debt collections

DECEMBER 21, 2021

The Latest figures released from the Insolvency Service make stark reading. The figures show that the number of businesses in England and Wales that have collapsed due to insolvency rose by 18.7% Company insolvencies higher. These two new procedures were created by the Corporate Insolvency and Governance Act 2020.

Trade 59

Trade Creditors Collection Agencies Collections Agency 59

UK debt collections

APRIL 20, 2021

Business insolvency statistics continue to defy gravity in the UK. Insolvency statistics recently released by the Government’s Insolvency Service show a 20% drop in corporate insolvencies compared to March last year, and a 37% drop compared to March 2019. Corporate insolvencies.

Government 59

Government Trade Creditors Banks 59

UK debt collections

NOVEMBER 24, 2021

Sushil Patel, Director of Restructuring Advisory at Kroll, has explained how this may impact the collection of debt in a period of financial recovery for the UK. At the same time, debt levels increased due to HMRC’s increased willingness to negotiate Time To Pay (TTP) arrangements with businesses. billion in 2019/20 to £1.96

Collections 82

Collections Government Trade 82

UK debt collections

NOVEMBER 29, 2021

Late payments are threatening the survival of British businesses. Recent figures from the Federation of Small Businesses estimate that 50,000 businesses close each year due to late payments. Businesses have to spend money to make money, but how can they do this if their potential working capital is tied up in unpaid invoices?

Collection Agencies 59

Collection Agencies Collections Agency Collections 59

UK debt collections

JANUARY 25, 2021

Around 630,000 businesses were experiencing significant financial distress in the last quarter of 2020, ahead of the current lockdown, according to research by the restructuring firm Begbies Traynor. This 13% increase (from 557,000 in Q3 2020) comes as the UK is plunged into another nationwide lockdown.

Construction 93

Construction Financial services Government Trade 93

UK debt collections

JUNE 30, 2022

The third edition of the Allianz Trade Collection Complexity Score provides a simple assessment of how difficult it is to collect debt, helping to support decisions and manage expectations when trading internationally, essential in an environment where global business insolvencies are set to rise (+10% in 2022 and +14% in 2023).

Debt Recovery 83

Debt Recovery Trade Unsecured Creditor Collections 83

UK debt collections

APRIL 16, 2021

New data captured has shown that 48% of Businesses have seen an increase in late payment. The New data supplied from cloud-based credit management platform, Know-it highlights that late payments remain an ever-present challenge for business owners. Late payments damage cash flow, restrict growth and can even present insolvency risks.

Credit Management 80

Credit Management Debtor Trade Collections 80

UK debt collections

MAY 4, 2021

The UK’s SME Businesses are suffering as a result of late payments. Covid-19 has fuelled the problem and many small businesses and medium sized enterprises are facing going bust. Over half of UK Businesses are suffering with exacerbated late payment as a result of covid-19. Time to act, time for Recovery.

Collection Agencies 75

Collection Agencies Collections Agency Collections Debt Recovery 75

UK debt collections

JULY 16, 2020

The research by Moore also shows that over 15% of the 113,000 UK businesses covered by the study are having to wait 90 days or longer to be paid. Every year, thousands of businesses in the UK go bust due to late payments by their customers. It continues to be the unacceptable thorn in the side of British Business.

Construction 74

Construction Manufacturing Trade Government 74

CICM

JUNE 9, 2021

Managing Rising Levels of Customer Risk and Insolvencies due to Brexit. After several delays, the EU and the UK reached a compromise on Brexit in the very last-minute at the end of 2020 – only seven days before the estimated exit day. How Insolvencies and Trade Disruptions Will Impact Credit Managers. How Technology Can Help.

Credit Management 40

Credit Management Trade Creditors Collections 40

CICM

MAY 6, 2021

With the Corporate Insolvency and Governance Act 2020 (“CIGA”) restrictions in place, a creditor is not currently able to petition for a company’s winding up. As businesses struggle through recession then fraud may also increase as people are tempted to turn to criminal means to keep their company afloat. Increasing Debt.

Creditors 40

Creditors Government Banks Loans 40

UK debt collections

SEPTEMBER 21, 2021

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. The UK’s share of fragile SMEs is higher than its nearest European competitors, with Germany and France standing at 7% and 13% respectively.

Manufacturing 22

Manufacturing Construction Government Bankruptcy 22

Re:Ceeve

JULY 9, 2020

There are similar issues in the UK, with The Insolvency Service revealing a tenfold increase in under-25s going bust between 2016 and 2019. What do debt collectors have to know about millennials as they move towards centre stage in the global economy? How is it shaping the world of debt collection?

Student loans 68

Student loans Student Loans Loans Debt collector 68

UK debt collections

JANUARY 20, 2023

UK Business Insolvency rises by nearly a third Latest figures from the Insolvency Service have shown that the number of business insolvencies in England & Wales were 32% higher than in the same month in the previous year (1,489 in December 2021) and 75.5% higher than December 2019 (1,119).

Creditors 64

Creditors Collection Agencies Collections Agency Government 64