Credit, Collections & Insolvency News
The Minister for Small Business says the collapse of Carillion must act as a catalyst to supporting small businesses, and prompt payment is a central part of the solution. Interviewed exclusively for ‘Credit Champions’, a news and current affairs-style programme created by The Chartered Institute of Credit Management (CICM) and ITN Productions, Andrew Griffiths MP…
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The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, is to host the Credit and Collections Technology Awards at this year’s CSA Gala Dinner on 13 September. The co-branded event, which will form part of the CSA’s UK Credit and Collections Conference (UKCCC), reflects the Association’s growing recognition…
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The Government has announced its commitment to end late payment culture as part of its Spring Statement. Responding to the news the Federation of Small Businesses (FSB) National Chairman Mike Cherry, said “The Chancellor has sent a clear message to UK boardrooms today by committing to ending the late payment crisis that destroys 50,000 businesses a year. We…
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Pre-pack administrations are continuing to side-step measures to stop the abuse of the current insolvency system, according to new research by Moore Stephens. Just 23 pre-pack sales were referred for scrutiny in 2017 by the Pre-Pack-Pool, the independent review body designed to help stamp out abusive pre-packs – down from 49 in 2016. A pre-pack…
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Businesses in England and Wales faced the first rise in adverse County Court Judgements (CCJs) in eight years during 2017, according to figures released today by Registry Trust. In 2017, 105,633 CCJs were registered against businesses in England and Wales, up 30 percent on 2016 and the first year-on-year increase since 2009. The rate of…
Read moreAs Brexit looms ahead, importers and consumers have been affected by raising input costs and a weaker pound. Euler Hermes forecasts an increase in insolvencies by 8% in the UK in 2018. The country is an exception in Western Europe where most countries should experience either a decrease or stabilisation in the number of insolvencies…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 19 THE MURRAY SQUARE LTD 1ST 4 CONSTRUCTION LTD 1ST STOP TICKETING LTD 3G TRANSPORT LTD 4D CONTRACT FLOORING LTD 5 EURO’S LTD A C CONSTRUCTION (ELLON) LTD A J BUILDERS (CONTRACTS) LTD ABODE (CLAPHAM) LTD ABSEC TECHNOLOGIES…
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Trade credit insurance specialist Euler Hermes has warned that future export market may prove to be a bad debt risk after Brexit. The findings come from Euler Hermes annual Collection Complexity Scores and Rating report, which measures the challenges of international debt collection procedures in 50 of the largest economies involved in global trade. The report…
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Business finance company MarketInvoice has announced a partnership with credit trade specialist Euler Hermes. The agreement will see Euler Hermes provide credit insurance policies to customers of MarketInvoice in safeguarding their businesses. With Euler Hermes credit insurance, MarketInvoice customers who use invoice finance solutions will have the assurance that they are protected in the event…
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A new report published by Euler Hermes shows that western Europe is leading the way with debt collections procedures. The report titled “Collection Complexity Score and Rating” aims to measure the level of complexity relating to international debt collection procedures within 50 countries. Three main factors were analysed: local payment practices, local court proceedings and…
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Equifax has launched a new solution to support the government Commercial Credit Data Sharing (CCDS) initiative seeking to stimulate competition and encourage new entrants in SME lending, thereby addressing the shortfall in access to finance. The new Equifax solution gives lenders a comprehensive picture of a businesses’ financial health to facilitate faster and more informed…
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Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: 09232408 LIMITED 1FILM UNIT LIMITED A & A TRANSPORT (CANNOCK) LIMITED A HAPPY CHEF LIMITED A LA CARTE MANAGEMENT LTD A S SITE PREPARATION LTD A.I.M.S SUPPORT SERVICES LIMITED AAC AIR CONDITIONING AND REFRIGERATION LTD ACCELERATE DIRECT LTD…
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Business confidence has improved but still remains in negative territory, according to the latest ICAEW Business Confidence Monito (BCM). The Confidence Index has now been negative for 6 out of the last 7 quarters – equal in length, but not depth, to the global financial crisis. Key findings for Q1 2018: Confidence remains negative although…
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