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Debt Collection Complaints Rise 50 per cent
According to latest statistics released by the Financial Ombudsman Service (FOS) the number of people complaining about debt collection has risen 50% in the last 12 months. The statistics include complaints about harassment from agencies who may have been a little too heavy in the way they have handled client cases. The results show that…
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Less Firms Heading Into Administration According To Deloitte
The good news this year is that less firms have gone into administration during 2014 than in 2013. The bad news is that not all sectors have done so well in the recovery. Retail has been an area that has suffered badly from the economic downturn. Large chains as well as smaller shops being wiped…
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What Happens If A Debtor Defends A Claim
If a company owes your business money, then the first thing to do is contact them to try and recover the money owing. Sometimes, this may result in the company defending your claim against them, which will usually result in court proceedings. Your claim will be allocated to one of three tracks depending on the…
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7 Things You Should Never Do To Recover Debt
Many companies are unaware that pursuing another company of individual over debts can be fraught with problems if the proper procedures are not adhered to. If you are in any doubt about the processes you are currently following to recover late payments, make sure you are not making the following mistakes that could land you…
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Micro SME’s An Average 68k In Debt Due To Late Payments
According to data from Companies house, the average micro SME is £68,000 in debt. Behind this staggering statistic is a struggle to maintain cash flow due to late paying customers. Running a small business of less than 10 employees can be as tough as running a large organisation, particularly if the business relies on just…
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How To Avoid Debt Having An Impact On Cash Flow
It’s easy to get lulled into a false sense of security with your customers – your best ones in particular. But if you don’t keep an eye on their payments it could be a disaster for your cash flow and in some cases it can spoil the relationship you have with your customers. Often in…
