Category: Overdue Debts

Small UK Businesses to consider insolvency to escape COVID loans

An article from The Financial Times has revealed that small businesses in the UK are seeking advice on ways to escape dangerous levels of debt built up in government-backed loans during the Covid-19 pandemic, with some considering prepack administrations. Begbies Traynor, the listed restructuring company, said its analysis showed more than half of UK businesses…




What should a late payment letter include?

Late payment or debt recovery letters as they are sometimes called can be an effective way to recover debts if they are put together correctly. Here’s some advice on how to compile your own letter and what and how much to include. Before we get started it is also worth noting that you may need…




How to approach rental arrears in a COVID world

In the wake of COVID-19, local councils and housing providers have been jolted into finding new ways of delivering services and interacting with their tenants – especially when it comes to income collection and rent arrears. Increasingly, we’re seeing providers employ innovative strategies while moving from debt recovery to support provision. Behavioural insights tell us…




Your options when a debt becomes overdue

Once an invoice exceeds its credit terms, the likelihood of collecting the debt decreases as it grows older, which is why it’s worrying to see that 30% of businesses now classify more than 10% of their debtor book as over 90 days old. DIY Firstly, if you have a dedicated credit control team in house…