FCA issues warning against Debt Collection firm

A warning has been issued by the Financial Conduct Authority (FCA) against an unregulated Debt Collection Agency targeting UK consumers. The FCA stated, “Max Montgomerie Debt Recovery & Investigations is not authorised by the FCA...

Luxury Car firm Director disqualified for 13 years

After failing to maintain sufficient accounting records for millions of pounds, car dealer Zaid Fares Al-Safee, 29, from west London has been disqualified from running companies for 13 years. Mr Al-Safee, a registered director of...

Council states that Debt Collectors are essential

The Council are now set to hire more debt collectors after the met on Wednesday and agreed that supplement the work done by council workers and current debt management partner Walker Love was ‘essential’. Walker...

Bailiffs clear out restaurant whilst diners eat

Whilst at Indian restaurant Green Elachi in Ruskington, Sleaford, three diners were shocked and confused as bailiffs started clearing out the resteraunt as they ate. On Wednesday, May 2, during their meal, the stunned diners...

HMRC triples spend on debt collectors

In the last three years, pay to private debt collectors from the HMRC has risen by 500%, whereby signifying the HMRC are stepping up the pressure on people who cannot pay their tax bills. According...

Spanish Debt Collection Explained

With many countries recovering and if not flourishing after an economic crisis, Spain, a country which despite the severe conditions imposed by the crisis is now once more one of the thriving economies in...

Tackling unpaid debts in the UAE

According to the 2018 Global Ranking on Debt Collection, the UAE is one of the most challenging places in the world for collecting debt, resulting in more costs, time and stress for many business...

Construction sector sees shocking Insolvency rise

According to new figures released by Creditsafe, insolvency within the construction sector in the UK has increased by 73.3% for Q1 in 2018. After the unforeseen collapse of Carillion in Q1, not only were thousands...

Half of Small Businesses trading in the red

According to the latest Small Business Insights published by Xero, half of the small businesses in the UK are currently trading in the red. The data published shows that regardless of various government initiatives that...

Why late payments are affecting SME’s

Every business whether it be large or small is effected by late payments and with many businesses being part of a supply chain and transactions being interconnected, once a supplier is not paid, they...