Tag: Debt Recovery

UK households resort to ‘buy now pay later’ loans to cover energy bills

UK households struggling with surging energy costs are being tempted into “buy now, pay later” financing schemes to spread out payments on their electricity and gas bills as the cost of living crisis deepens, according to consumer groups. The warning signs are clear that people have been forced to take desperate measures as they struggle with…




Sharp rise recorded in landlords seeking to recover rental debt

The number of landlords seeking to recover lost rent has soared according to eviction and housing law specialists, Landlord Action, who have seen a sharp rise in landlords requesting to use their debt recovery service. Instructions for the last year, April 2021 to March 2022, were up 180% compared to the pre-pandemic year, April 2019…




All the tricks scammers use to steal your money

A major bank says it has seen an increase in scams over the past three months, with fraudsters mostly relying on purchase, impersonation and investment tactics to steal money Financial scams against Brits are on the rise – and now major bank Barclays has revealed the three main ways fraudsters are targeting consumers. The bank…




The truth about getting out of debt

For a lot of people, getting out of debt seems impossible. But it’s not – you just need to know what to do and where to start. In this blog post, we’ll talk about the truth about getting out of debt, and give you some tips on how to get started. So whether you’re struggling…




Christmas Shopping Debt

Christmas shopping to leave Brits with four months of debt The average Brit gets into £439 of debt over the Christmas period, which can take four months to recover from. According to debt management company Lowell, more than a fifth (22 per cent) of British consumers are feeling pressure to spend beyond their means this…




Warning as millions of taxpayers owe money to HMRC – are you affected?

TAX debt is now more than double pre-pandemic levels with the National Audit Office (NAO) today warning the HMRC may struggle in dealing with the workload of collection. Up to 2.4 million taxpayers are thought to be in debt to HMRC since the pandemic with a total debt of £42billion in September according to the…




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…




The harsh realities of debt recovery and how to deal with them

If you have ever had to recover an overdue invoice from a difficult customer, you will know all too well know the process is rarely straightforward. This article will cover 3 harsh realities of the debt recovery process and will also provide guidance as to how best deal with such potential issues. Debt recovery isn’t…




Eviction rights explained as notice periods for tenants is slashed

Eviction notice periods are being reduced as notice periods return to pre-pandemic levels. We explain what this means and your rights if you’ve been asked to leave your home. Eviction notices are being slashed as temporary measures in place to protect tenants return to pre-pandemic levels. Extra support was put in place during the Covid…