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Energy Company Debt Recovery In The Spotlight
Energy companies are often criticised for imposing unfair charges on consumers, however it no seems that the energy companies themselves are under pressure from bill payers going into arrears. Ofgem recently released information about an unnamed energy supplier seeing a “significant” rise in customers not paying their bills and going into debt. The company is…
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Council Faces Problem As Tax Debt Collections Mount In Dundee
Collecting council tax debts creates a problem for most councils in the country, but in Dundee the problem has grown to the point where watchdogs are asking the local authority to reduce council tax to make it more affordable. A total of 5,323 homes where in debt over council tax according to recent information release…
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A Quarter Of SMEs Have Bad Debt Says Survey
Bad debt is proving to be major problem for UK businesses with a quarter reporting bad debts and the situation showing little signs of improvement between 2014 and 2015 according to a survey by Bibby Financial Services. The number could include up to 1.3 million SMEs in the UK, which will have an impact on…
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US Bank Giant To Pay Back $166 Million Over Debt-Collection Abuses
If you are a business owner who has found yourself in hot water over your debt recovery practices, then spare a thought for JP Morgan. The giant U.S. bank will be forced to pay $166 million over the abusive way it treated customers over debts according to reports on Bloomberg. The failure of JPMorgan to…
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Debt Management Companies Are Failing According To FCA
The Financial Conduct Authority has found that debt management companies are failing to provide the service they are being paid for and offering poor advice to indebted businesses. The findings raise issues for firms seeking the recovery of debts as well as those companies who may be struggling to pay back the money they owe.…
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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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UK SMEs Less Likely To Go Under If They Credit Check
With some businesses it’s necessary to extend a line of credit to clients and customers. This is fine if those customers have a good credit rating but what happens if a company is concealing their financial problems? The answer to this is that companies are more likely to go out of business in their first…
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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…
