Free Commercial Debt Collection – How we do it!

Free Commercial Debt Collection How we do it!

The Government has recognised that commercial debt is a serious drain on the UK economy and therefore introduced the Late Payment of Commercial Debts (Interest) Act 1998 to help overcome the problem. This legislation was further amended on 16 March 2013 with the introduction of The Late Payment of Commercial Debt Regulations 2013 and this […]

Late payments have escalated since the onset of the pandemic

Late payments have escalated since the onset of the pandemic

Credit Connect reports that “Late payments have escalated since the onset of the pandemic” “Late payments have escalated since the onset of the coronavirus pandemic, according to the latest UK Payment Practices Barometer by trade credit insurer Atradius. The new report reveals that nearly half the value of Business to Business (B2B) bills are being […]

UK firms unsustainable debt estimated to be £70bn

UK firms unsustainable debt estimated to be £70bn

Credit Connect reports that “UK firms unsustainable debt estimated to be £70bn“ “UK firms have racked up around £70 billion worth of unsustainable debt, according to a new report from The City UK, with more than £20 billion of that coming from government-backed coronavirus loan schemes. The report shows an improved outlook for the economy, […]

Late payments trend threatening economic recovery

Late payments trend threatening economic recovery

Credit Connect reports that “Late payments trend threatening economic recovery“ “The majority (55%) of UK SMEs are being paid later as a result of the pandemic in a trend that is threatening the economic recovery, according to research by Bibby Financial Services (BFS). More than a third (36%) of SMEs have seen payment times increase […]

Could Debt Collection be the unlikely saviour for the UK’s economy

Could Debt Collection be the unlikely saviour for the UK’s economy

Business Matters magazine reports that debt collection could be the key to nation’s business recovery. Saying that almost 3 out of 5 SMEs have reported late payment issues since the start of Lockdown. This unpaid debt could spell the end to many SMEs and keeping them going is fundamental to the healthiness of the UK […]

During Lockdown the Late Payment Crisis Deepens leading to more Commercial Debt

During Lockdown the Late Payment Crisis Deepens leading to more Commercial Debt

  We all know that the economy is struggling during lockdown and one of the side effects is in the increase in late payments, which is obviously leading to even more commercial debt. Credit Connect report that there is as much as £23bn in late payment debt. Late payments can cripple small businesses who depend […]