Tag: Debt Recovery

  • Consumers vulnerable to aggressive debt collection if their energy supplier goes bust

    Customers who owe money to energy suppliers are left vulnerable to aggressive debt collection companies if their supplier goes bust. Since January 2018, 11 energy suppliers have collapsed, including Gen4U, One Select, Future Energy, Spark Energy, Brilliant Energy and National Gas and Power. This has left at least 32,000 customers in debt and at risk…

  • Benefits of automating accounts receivable tasks

    Automating accounts receivable tasks can save time and help to collect customer payments quickly and efficiently. Outstanding payments from debtors are one of the key reasons that small businesses run into trouble. Not only does chasing late payments waste valuable time, late payments can also have a devastating effect on your business’ cash flow. Keeping…

  • What is the government’s ‘breathing space’ scheme?

    The government’s ‘breathing space’ scheme could offer those in debt a valuable 60 day respite period to seek help and get their finances in order. The breathing space scheme, also known as the debt respite scheme, was first announced by the government in October 2017. The scheme is intended to give people time to get…

  • 3 steps to determining a customer’s creditworthiness

    If you supply customers with a product or service, then offering a credit facility is a great selling point, but it doesn’t come without its risks. Whilst it is impossible to completely safeguard yourself from non-paying customers, it pays to have a system in place for checking a company’s credentials before you commit to working…

  • CCJs Issued Against Businesses on The Rise Again

    After a long period when the number of CCJs issued against businesses was in decline, the third quarter saw a sharp increase. This suggests that companies are currently far more willing to take their claims as far as a CCJ than they have been for quite some time. 32,629 business CCJs were issued in the…

  • 3 Things You May Not Know About the Enforcement Process

    If you have taken someone who owes you money to court and you win the case, then the debtor has only a limited time to pay you what they owe or face the prospect of bailiffs coming to their premises. This part of the enforcement process is governed by the following actions you may not…

  • Recovering Debt from Outside Within the EU

    Recovering debt from companies outside the UK is no easy task for the average business owner but despite the popular myth that it is impossible to recover money from foreign companies, the EU does offer similar protections to those in the UK. All this of course may change if the UK fails to reach a…

  • Should You Offer Your Late Paying Customer A Payment Plan?

    In an ideal world all of our clients would pay us on time and in full. Unfortunately sometimes this isn’t the case for all sorts of reasons some of which may be legitimate while others are simply delaying tactics. Telling in the difference between the two can be hard but as a general rule you…