International Debt hits record $226 Trillion
International debt rose to a record $226 trillion in 2020 as the world economy was blasted by the unrelenting Covid-19 pandemic. The pandemic caused massive economic waves around the world and is responsible for...
Insolvency Industry regulation changes to be made
The Government has set out new proposals to reform and simplify regulation of the insolvency sector.The new consultation is inviting views on creating a single regulator for Insolvency Practitioners and extending regulation to firms...
Business Insolvencies hit highest level since Pandemic began
The Latest figures released from the Insolvency Service make stark reading. The figures show that the number of businesses in England and Wales that have collapsed due to insolvency rose by 18.7% in November...
Energy giant probe into ‘aggressive’ debt collection tactics
An inside whistleblower who contracts to energy giant Scottish Power has claimed Call Agents are being told to threaten customers with Debt Collection enforcement.The man is purported to be an employee from a company...
Crackdown on rogue Directors who dissolve Companies to avoid Business Debts
The Insolvency service has been given new powers to challenge the conduct of dodgy directors who dissolves a Business to avoid paying their liabilities.These new powers will extend the Insolvency Services ability to investigate...
Insolvency Experts predict wave of insolvencies after profits rise
Leading UK Insolvency Experts Begbies Traynor have reported of a increase use of their services. Revenue and profits have risen for the Company for the first half of the year.The Insolvency Firm which assists...
Businesses being chased for Late filing penalties by Debt Collection firms
Businesses filing their financial statements late due to the impact of the pandemic face the prospect of being contacted by debt collection agencies before their penalty appeals have been concluded by Companies House, say...
USA Debt Collectors can now use Social Media to help recover unpaid debts
Debt Collectors in the USA have been given the green light to use Social Media to help collect debts. American Debt Collectors will now be able to chase down debtors via direct messages on...
UK Business Credit Scores recovering well post pandemic
The latest research from Business analysts Experian has shown that on average, UK Business are recovering well post pandemic.The average Business credit score level has returned to the pre pandemic average of 44 by...
HMRC asks for help ‘modernising’ business debt collection
The HMRC has surprising made a public statement asking for advice on modernising its Business Debt Collection methods.The statement issued a couple of days ago is asking for suggestions and advice on improving its...
