Credit, Collections & Insolvency News
The Government has announced that a ban on landlords evicting firms for unpaid commercial rent is being extended for another nine months. The ban, which stops landlords from taking tenants to court for non-payment, was due to end on 30th June. The Government says that the extension to the order will give places such as…
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The Government has announced the extension of temporary insolvency measures which includes the restrictions on issuing of winding up petitions and statutory demands. The change to the regulations will mean restrictions on statutory demands and winding up petitions will remain for a further three months until 30th September 2021. The measures were introduced in the…
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The Lending Standards Board (LSB) says banks must urgently improve the way they apply a code that reimburses bank transfer scam victims. The LSB warned of systemic failings and said firms must work without delay to ensure the best outcomes for customers. It has written to the Chief Executives of banks which have signed up…
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Nearly half of companies have said that they were lucky to have survived 2020 according to new research by Intrum. The research as part of Intrum’s sixth UK edition of the European Payment Report 2021 also found that companies have also taken the opportunity to tighten payment terms and focus on liquidity. However, most businesses…
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Latest analysis of payment transactions by UK Finance has found that contactless now accounts for more than a quarter of all payments. The 2021 Payment Markets Report, an analysis of all forms of payments over 2020 showing the impact the Covid-19 pandemic and resultant lockdowns had on the nation’s payments behaviour which indicated that for…
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Half of all business to business (B2B) credit sales in Asia are overdue, according to the latest Payment Practices Barometer from trade credit insurer Atradius. Many Asian businesses polled in the region are feeling the pinch of the global pandemic recession with around 40% of respondents pessimistic about the outlook for their Days Sales Outstanding…
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