Six tips for telephone chasing overdue payment

14th November 2018 Industry opinion |

You’ve done the work or provided the goods. The client is happy – or at least they’ve not said they’re not – and you’ve sent the invoice. But the deadline as stated in your payment terms has been and gone and no payment has dropped into your bank account. Oh dear. What do you do?…

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Why credit is not considered to be important

14th November 2018 Industry opinion |

When we look at what is considered as the most important measures of a business success there are three key numbers: Sales (Also known as Revenue, Income or Turnover). Net Profit (Also known as EBIT, EBITA or Earnings). Net Worth. (Also called Book Value or Shareholders Equity) For PLC’s these three numbers are a major…

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Spotting the warning signs of insolvency

14th November 2018 Industry opinion |

Insolvency levels rose by 2% in the UK in 2017 with more than 18,000 company insolvencies. This equates to an average of 47 firms falling victim to insolvency each and every day. In an uncertain economic climate, the risk of insolvency is ever present and Atradius economists predict this upward trend will continue with an…

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Scottish consumer debt sees 6% rise

14th November 2018 Consumer Collections |

The number of debt decrees registered against Scottish consumers rose by six percent more than in the third quarter of 2017. During Q3 2018, 5,668 debt decrees were registered against Scottish consumers. A further one percent increase on last year’s historic Q3 high in the average value of small claims and summary cause decrees set a…

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Scottish business debt rises

14th November 2018 Commercial Credit Management |

The number of debt decrees registered against Scottish businesses rose by more than a third during the third quarter of 2018, according to figures released today by Registry Trust. There were 754 decrees issued against all businesses in Scotland during Q3 2018, 34 percent more than during the same period the previous year. A 44…

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Consumers set to spend £60bn in festive season

14th November 2018 Consumer Collections |

New research from American Express has revealed that consumers are set to spend an average of £1,206 on everything from tinsel to turkey this year, a Santa-sized £60 billion across the nation. Gifts are the top spend items and even though there’s no place like home for Christmas, travel is still on the mind of…

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Paragon anticipates lending retirement growth

14th November 2018 Consumer Collections |

Almost 80% of mortgage intermediaries expect lending into retirement to be the fastest growing segment in the specialist mortgage market over the next two years according to Paragon’s latest Financial Adviser Confidence Tracking (FACT) Index based on interviews with almost 200 mortgage advisers. Intermediaries say mortgages for the self-employed represent the mainstay of the specialist mortgage market…

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Qualco’s charity football tournament raises £1,700

14th November 2018 Consumer Collections |

Qualco UK raised more than £1,700 for charities Princess Alice Hospice and the Campaign Against Living Miserably (CALM) at its inaugural seven-a-side charity football tournament on Friday 2nd November. Teams from firms including Cabot Credit Management, Esme Loans, Sigma and Tesco Mobile competed across two leagues to secure the brand new Qualco Cup and Plate.…

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BSA: Innovation needed for first-time buyers

14th November 2018 Consumer Collections |

A new report released by the Building Society Association (BSA) has highlighted, how with the right financial support from parents, this type of lending could grow further, without jeopardising the long-term financial well-being of older generations.  Recommendations from Building on the Bank of Mum and Dad, report include: More products and innovation: lenders expanding provision, offering…

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£96bn of debt hidden from friends and family

14th November 2018 Consumer Collections |

Consumers are hiding more than £96 billion of debt from their friends and family, with the average amount of hidden debt in the UK standing at £4,164 per person. These findings come from new research by the Money Advice Service for Talk Money Week – a public awareness campaign held this week (from 12th to 18th November),…

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Iwoca appoints Chief Operations Officer

14th November 2018 Commercial Credit Management |

Small business lender Iwoca has announced that Seema Desai has been named Chief Operations Officer (COO). Desai joins a small but growing number of women at C-suite level in the fintech industry. Desai joined iwoca in January 2017 as Head of People, developing Iwoca’s talent and organisational capabilities. Prior to joining Iwoca, Desai led the…

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Brexit impacting on mortgage market levels

14th November 2018 Consumer Collections |

Latest figures from UK finance show that the mortgage market has softened following period of strong growth. The figures indicate that there were 29,400 new first-time buyer mortgages completed in the month, some 4.5 percent fewer than in the same month a year earlier. The £5.0bn of new lending in the month was the same…

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Indesser appoints new Chair

14th November 2018 Consumer Collections |

Indesser, a joint venture between TDX Group (an Equifax company) and the Cabinet Office to support debt management, has announced Andy Briscoe as its new independent Chair. Briscoe brings a wealth of expertise to the role, with more than 30 years’ experience in financial services, insurance, and healthcare, including at Centrica and Bupa. He will…

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