UK debt collections

JANUARY 16, 2024

Landlords owed an average of £725 in unpaid rent According to the survey, landlords in the UK are experiencing an average of 2.9 New research has revealed that landlords are growing increasingly concerned about their tenant’s ability to pay their rent , with 44% admitting this is a big stressor for them as we head into the new year.

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UK debt collections

DECEMBER 13, 2023

Across the UK, Intuit Quickbooks found that 56.4m I think they would be better served incentivising the major banks in the UK (some of which they still own) to lend to SMEs, which they aren’t currently doing. Using a Professional Debt Collection Agency is more common than ever amongst the UK’s Small Business community.

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UK debt collections

JANUARY 13, 2023

Personal debt in the UK has increased massively over 2022 suggests new research. Monthly bills are the main cause of increased personal debt and stress for half of the adults living in the UK, with 46% of 25-34-year-olds taking out an additional credit card or loan to cover the increasing cost of living.

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UK debt collections

FEBRUARY 4, 2021

Unfortunately the statistics do not tell the whole story as many businesses in the UK are in distressed situations. There is a huge pile up of unpaid invoices in the UK with Small Businesses and organisations afraid to act. According to latest figures, Corporate and Business Insolvencies fell by 27.1% for 2020 in England and Wales.

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UK debt collections

DECEMBER 7, 2021

The latest research from Business analysts Experian has shown that on average, UK Business are recovering well post pandemic. The UK Business credit score takes in a number of factors to assess a company financial position and its level of risk. A competent Debt Collection service benefits thousands of UK Businesses every day.

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Fico Collections

APRIL 19, 2023

Home Blog FICO UK Credit Cards: Are "Established" Accounts in Trouble? The percentage of Established UK credit card accounts with two missed payments is more than 83 percent higher than all account vintages. The percentage of Established UK credit card accounts with three missed payments is nearly 94 percent higher.

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UK debt collections

JULY 29, 2023

The number of UK exporters anticipating an increase in the risk of non-payment has risen from 27% to 43% year on year, according to a survey conducted by credit insurer Allianz Trade. Almost one-quarter of UK exporters surveyed moved their production plants due to the pandemic, the report says.

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UK debt collections

JANUARY 25, 2021

This 13% increase (from 557,000 in Q3 2020) comes as the UK is plunged into another nationwide lockdown. Every one of the 22 sectors monitored by the Red Flag Alert research exhibited an increase in significant distress, with 18 sectors experiencing double digit increases in the final quarter of 2020 – a worrying sign for the UK economy.

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Fico Collections

JUNE 27, 2023

Our latest data on UK credit card trends shows financial volatility and higher levels of credit card spend, compared to 2022 – with monthly spend up by 6.7 The data sample comes from client reports generated by the FICO® TRIAD® Customer Manager solution in use by some 80 percent of UK card issuers. percent in March and 8.7

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UK debt collections

SEPTEMBER 11, 2020

1 in 10 businesses are in moderate or severe financial risk of insolvency but on a positive note, 79% of Uk firms are considered low risk or no risk at all. Nearly half of all Uk Businesses have seen revenues decline with 1 in 10 reporting that their cash flow had halved compared with 12 months ago.

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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%. However, there are some benefits being realised.

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Fico Collections

MARCH 23, 2023

percent month-on-month to £1,650 Analysis of the largest consortium of UK cards data shows UK consumer credit behaviour in January 2023 generally following typical seasonal patterns. January saw inflation slightly pegged back compared to the end of 2022; retail sales also improved marginally in the new year.

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UK debt collections

DECEMBER 6, 2022

The government is to review worsening UK Small Business late payments it has been announced. The Payment and Cash Flow review will scrutinise existing payment practices and the measures in place to make sure Uk Small Businesses are not ripped off by their larger clients. Small Business Debt Collection action urgent.

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UK debt collections

APRIL 11, 2024

New analysis by Mazars has found that the number of insolvencies by retailers has increased 19% in the past year to 2,195 in 2023/24 up from 1,843 in 2022/23. High profile retail insolvencies include The Body Shop in February, as well as fashion brand Ted Baker and online luxury fashion retailers MatchesFashion and Farfetch.

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Fico Collections

JANUARY 24, 2023

FICO’s latest market report of UK card trends suggests that consumers managed their credit card debt to keep lines of credit open for the festive season as spend increased month on month. The data sample comes from client reports generated by the FICO® TRIAD® Customer Manager solution in use by some 80 percent of UK card issuers.

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Fico Collections

FEBRUARY 22, 2023

But this year’s rise seems to also have been driven by inflation, pushing the amount of average credit card spend in the UK to the highest level since our UK Risk Benchmarking records began in 2006. This rise occurred in a month when UK retail sales volumes were widely reported as being down relative to past years.

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Taurus Collect

JULY 17, 2023

That’s why we’ve put together this comprehensive guide to debtor tracing in the UK – to make sure you’re up-to-date with all relevant information! What is Debtor Tracing and Why Is It Important for Businesses in the UK Debtor tracing is an essential practice for businesses dealing with debt collection in the UK.

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UK debt collections

DECEMBER 8, 2022

More UK energy firms are predicted to go bust in 2023 according to one expert. The boss of Centrica, parent company of British gas made the stark prediction that many UK energy firms are already insolvent. The list below shows UK energy firms failures stretching back to 2016. Rise in energy suppliers going bust.

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Fico Collections

OCTOBER 19, 2022

UK Card Risk Trends: Summer Data Indicates Challenges Rising. Erratic UK cardholder behaviour over the summer months reinforces challenging conditions for lenders. The percentage of missed payments in the UK also sends confusing messages for lenders. See my post on UK Credit Card Trends: From 2008 Crash to Cost-of-Living Crisis.

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Taurus Collect

NOVEMBER 15, 2023

Unfortunately, many UK consumers are unaware of their legal protections and end up feeling intimidated or helpless when faced with aggressive debt collection tactics. In the following sections, we will unravel the complex world of consumer rights relating to debt collection in the UK. About Us Taurus Collections (UK) Ltd.

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Taurus Collect

APRIL 3, 2023

This blog post will break down everything companies outside of the UK need to know before recovering debts from British residents or businesses. Understanding UK debt recovery law is essential for international companies who are looking to collect on unpaid debts.

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UK debt collections

OCTOBER 26, 2022

The majority of UK firms have experienced suppliers refusing to do business with them because of late payments, according to a survey. If the UK government is serious about going for growth, addressing this pernicious problem should be high on the urgent to-do list.”.

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Taurus Collect

APRIL 4, 2023

Do you have an international business or enterprise and have been struggling to find success in your debt recovery efforts in the UK? Read along as we delve into how an international business should go about finding success during its debt recovery process in the UK.

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Fico Collections

NOVEMBER 29, 2022

UK Cards Data: September Data Shows Rising Consumer Stress. With the rise in inflation and soaring energy costs in the UK, it’s no surprise that our data on UK card trends for September 2022 offer clear signs of consumer indebtedness. See my post on UK Credit Card Trends: From 2008 Crash to Cost-of-Living Crisis.

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UK debt collections

FEBRUARY 24, 2022

A new wave of Scam debt collectors is targeting the UK’s general public it emerged yesterday. Leading UK Debt Collection Agency Frontline Collections issued a warning to members of the public via their website. The Police have also been informed as well as the Action Fraud team.

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UK debt collections

DECEMBER 12, 2022

UK restaurants are going bust at a faster rate than during the Covid crisis owing to a “toxic mix” of surging energy costs, staff shortages and falling bookings. Industry lobby groups including UK Hospitality and the British Beer and Pub Association said last month that more than a third of hospitality businesses could go bust by early 2023.

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Fico Collections

MAY 17, 2022

UK consumer fraud attitudes. Our latest commissioned research suggests that UK banks could face a potentially catastrophic customer defection event in the wake of a money laundering scandal. 56 percent of UK respondents said they would switch banks if theirs was reported to be involved in such a scandal.

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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 predicts that unemployment in the UK will rise above 5%.

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UK debt collections

FEBRUARY 28, 2024

The number of restaurants closing across Britain hit a new quarterly high at the end of 2023, with more than 500 closing.

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On Guard

JULY 15, 2020

Onguard expands UK sales team with addition of Andy Bass. London, 15 July 2020 – Onguard, the FinTech company dedicated to redefining the order-to-cash payment process, has announced the appointment of Andy Bass as New Business Development Manager as the company continues its UK expansion and exploits new opportunities in the region.

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Fico Collections

APRIL 27, 2022

The FICO Credit Market Report for February 2022 shows UK card trends following typical post-seasonal spend and repayment patterns. The data sample comes from client reports generated by the FICO® TRIAD® Customer Manager solution in use by some 80 percent of UK card issuers. Learn More About UK Cards Trends. Highlights .

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Fico Collections

JANUARY 11, 2022

UK card average spend increases to a new over two-year high. The average spend on UK credit cards increased £27 to £730 in the month, £75 above pre-COVID-19 spend levels. The data sample comes from client reports generated by the FICO® TRIAD® Customer Manager solution in use by some 80 percent of UK card issuers.

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Fico Collections

OCTOBER 12, 2021

Global analytics software provider FICO today released its analysis of UK card trends for August 2021. Eight-year high for increasing spend on UK cards. The average spend on UK credit cards increased £23 to £711 in August 2021. This is the highest level since FICO started compiling the data eight years ago. by Stacey West.

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Fico Collections

MAY 30, 2022

The data sample comes from client reports generated by the FICO® TRIAD® Customer Manager solution in use by some 80 percent of UK card issuers. Learn More About UK Cards Trends. I participated in the How to Lend Money to Strangers podcast, talking with host Brendan Le Grange about the trends in the UK cards market.

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Fico Collections

AUGUST 16, 2021

Our latest FICO UK Credit Market Report looking at UK card trends for June 2021 shows that average card spend continued to increase compared to 2020. Spend on UK cards continued to increase, along with the percentage of payments. . . Spend on UK cards continued to increase, along with the percentage of payments. . .

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Fico Collections

MARCH 21, 2022

How are UK cardholders managing their payments? Our analysis of UK card trends for January 2022 suggests that they're managing card spend relatively well, despite well-documented increases in the cost of living. . The new data for January 2022 illustrates the continued mixed picture of consumer financial management. by Liz Ruddick.

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Fico Collections

NOVEMBER 16, 2021

Our monthly UK Credit Market Report analyzing UK credit card trends for September 2021 shows the contrasting conditions that have been seen throughout 2021 continue. UK Card average spend falls for third time in 2021. The average spend on UK credit cards in September 2021 decreased £3 to £708. by Stacey West.

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