Tag: Debt Collection Company

  • UK credit card debt hits record high

    Consumers borrowed £1.5bn net in February — the highest monthly figure since statistics began in 1993 UK consumers borrowed a record amount in February, with some economists saying it was a sign of the cost of living crisis hitting wallets even before Russia’s invasion of Ukraine pushed energy prices higher. Individuals borrowed a net £1.5bn…

  • ‘Buy now pay later’ boom fuels consumer debt concerns as transactions soar

    With the rise of mobile payments, it seems Klarna has fallen behind. The company’s decision to release a physical card in UK last month was outdated and symbolic for an age where our digital lives take over every day – especially when you consider they only work on smartphones! The pastel pink and black cards…

  • 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…

  • 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…