Credit, Collections & Insolvency News
The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has confirmed the line-up of speakers for this year’s UK Credit and Collections Conference (UKCCC). Two senior executives from the Financial Conduct Authority (FCA) – Roma Pearson (Head of Consumer Credit) and Richard Fox (Head of Cross-Sectorial & Funds…
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The Insolvency Service has released the latest numbers business insolvency in Quarter 1 (January to March 2018). The figures indicate that an underlying number of insolvencies (excluding bulk insolvencies) increased to the highest quarterly level since Q1 2014. This was driven by a rise in underlying creditors’ voluntary liquidations and compulsory liquidations. Duncan Swift, vice-president of…
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UK businesses saw a 27 percent surge in the number of adverse debt judgments last year, according to national statistics issued by TrustOnline. Over the same period, the number of online searches by people checking judgment status grew by ten percent. During 2017, 109,000 judgments were registered against businesses in England, Wales, Scotland and Northern Ireland,…
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The number of failures within the UK’s construction sector increased by 73.3% in Q1 2018 according to new figures from Creditsafe. The quarter kicked off with unexpected collapse of Carillion, which left thousands of suppliers unpaid and countless employees without work. The impact was clearly felt in the construction industry as four of the top…
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Credit managers, those who keep the cash flowing in business, are untroubled by Brexit, unimpressed by new regulation, and keen to see how new technology can enhance performance in the future. They are also valued by the companies who employ them, and actively involved in the performance and success of the businesses they represent. These…
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Debt owed to UK businesses across eleven core business sectors was £580m higher in the last three months than in Q4, 2017 according to latest figures from a Creditsafe. After falling to a 12-month low in Q4 2017 with £157.9m being filed, bad debt (debt owed to businesses) filed in the first quarter of 2018 reached…
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A new study of over 1600 larger UK retailers with total assets of £5 million or over by Company Watch, the financial analytics firm, found over a quarter were financially vulnerable to rises in interest rate costs this year. Company Watch reviewed the latest published full-year financial accounts of 1625 UK retailers. It found that 392 (24.1%) companies…
Read moreMore than a quarter (30%) of finance professionals believe that blockchain technology has the ability to offer enhanced data security in their organisation, while over half (51%) are confident that their organisation will be working with smart contracts incorporated in blockchain by this time next year. These findings come from a study of more than…
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The Credit Services Association (CSA), has announced the first of the major sponsors for the 2018 UK Credit and Collections Conference (UKCCC), which this year moves to Crowne Plaza, Stratford Upon Avon. Conexus Recovery and Field Services, which has clients across the banking, utilities, retail and debt purchasing sectors, is returning as a sponsor and…
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The government has announced tough new measures to level the playing field for smaller businesses bidding to win government contracts. Cabinet Office Minister Oliver Dowden has announced proposals to exclude suppliers from major government procurements if they cannot demonstrate fair and effective payment practices with their subcontractors. Other plans include allowing subcontractors to have greater access…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 09247906 LTD 10294997 LTD 123 RENTALS LTD 360 LOCATIONS LTD 4 PROPERTIES LTD A. GULEC CONTRACTORS LTD A.P.L.E. (OXFORD) LTD A&O CONSULTANCY LTD ABBA NORTH EAST LTD ACA A LTD ACCESSORY TRADING LTD ACCIDENT LAWYERS LTD ACCRUED EQUITIES…
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Half of businesses have faced issues with late payments in the last year, a new survey of 787 company directors reveals. The poll by the Institute of Directors shows that 3 in 10 business leaders see ‘excessively bureaucratic payments system’ as the main reason for late payment and just over a fifth said it was…
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The Government is to launch a call for evidence following concerns that a minority of bailiffs are still acting aggressively when collecting money from debtors –, particularly from vulnerable people. The call for evidence, which will be launched shortly, will look to those directly involved to share their experiences to help stop this in its…
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