Most common cause of debt is cited as the ‘cost of living’
Debt charity, StepChange has reported that September saw the cost of living being cited as the most cause of debt amongst its service users. Apparently more than one in five (22%) saying the 'cost...
Company Insolvencies up 71% in the UK
The latest Government insolvency statistics for Q3 2002 show a significant increase in the volume of companies in distress. There were 16,105 corporate insolvencies in the first three quarters of 2022 compared to 9,433...
Debtor jailed for hiding assets from trustees
Debtor jailed for hiding property assets from trustees. Sukhi Sanghera appeared at Warwick Crown Court on Thursday 27 October 2022, where he was sentenced before HHJ Berlin after he was charged with 4 counts...
Small Business late payments hit 2 year high
With the UK economy likely to fall into a recession, small business late payments were made on average 8.2 days later in September. This is the highest small business late payment time since August...
Rogue construction firm shut down due to Business credit scam
A rogue construction firm has been shut down due to an elaborate and deliberate business credit scam. Nobleread Ltd was wound up by the High Court and the Official Receiver has been appointed Liquidator...
Banks advise of rise in unpaid mortgage debt
The boss of Santander UK says the bank is putting aside more money for potential unpaid mortgage debt defaults linked to the cost of living crisis. This follows a sharp rise in customers falling...
UK Suppliers refusing orders due to late payments
The majority of UK firms have experienced suppliers refusing to do business with them because of late payments, according to a survey.
The survey by Ivalua found six in 10 (59%) UK businesses said suppliers...
Bailiff attacked with knife whilst trying to collect £10,000 debt
A bailiff who was trying to collect a £10,000 debt at a Hull restaurant was viciously stabbed with a knife in violent scenes that had chilling echoes of the TV programme Can't Pay, We'll...
Rugby Clubs collapse due to Unpaid Business debts
A second top level Rugby club has collapsed due to unpaid Business Debts. Wasps Rugby club are a famous name in the English Professional Rugby game and play in the Gallagher Premiership.
This comes weeks...
Late payments costing Small Businesses £684m
New research shows that half of invoices issued by small businesses are paid late.Could stricter penalties and more transparency in regulation and reporting make a difference?Small businesses have long suffered from suppliers paying...
