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, due in part to Government stimulus, has led to a fall in the projected level of unsustainable debt, but the recapitalisation of UK SMEs remains a huge challenge, which will be a drag on the long-term return to economic growth

It is very important that commercial debts are recovered quickly and effectively, so that they don’t become unsustainable.

Veritas Legal offer a free commercial debt recovery service, as the fees are recovered from the debtor

Please call: 01392 498686 or email: info@veritaslegal.co.uk

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