Law firm ‘disappears’ owing £37.5m to Creditors
The administrators of a collapsed Liverpool law firm have admitted they do not know if creditors will receive a return, amid ongoing uncertainty over exactly how the business came to grief.Joint administrators from Quantuma...
City Council owed £229m in Unpaid Debt
Bristol City Council is owed £229m in unpaid debt, included nearly £52m of council tax it has failed to collect.
However unpaid invoices account for much of the debt - £88.6m - and £30.9m of...
Authorities issue Scam Invoices warning
The Intellectual Property Office (IPO) has issued a fresh warning to customers to beware of misleading requests for payments, sent by unsolicited organisations. These typically take the form of invoices requesting payment for trade marks,...
Londons lettings market being plagued by Rogue Tenants
London estate and lettings agent Benham and Reeves has uncovered a growing wave of fraudulent activity with rogue tenants targeting landlords in the capital. With forged IDs, doctored documents, and undeclared financial issues becoming increasingly...
Charity’s plea to restrict Council tax Debt Collection
The Charity, National Debtline says action is needed to improve debt collection practices at a effectively-bankrupt authority.Financially-stricken Birmingham City Council sent almost 60,000 debts to bailiffs last year - as a charity warned the tactic risked...
SME Late Payments increase by 48% says New research
Over 3.6 million (72%) small and medium-sized enterprises (SMEs) have some form of outstanding late payment from customers, leaving them £96,772 out of pocket on average, according to new research from Aldermore’s SME Growth...
Council’s ineffective Debt Recovery leading to increased Bailiff usage
A debt advice charity has urged Warrington Borough Council to improve debt recovery methods after bailiffs were instructed 6,432 times in a year.New findings following a Freedom of Information Request revealed Warrington Borough Council...
New Data says outstanding invoices reach shocking levels
New research by Upflow has found that over half of outstanding invoices (57%) are late, with a third of invoices (33%) taking longer than 90 days to be paid.Upflow says that throughout several industries,...
Overdue Invoices in Scotland reaching high levels
The number of overdue invoices in Scotland has reached its highest level this year, according to new research from R3, the UK’s insolvency and restructuring trade body.R3’s analysis of data provided by Creditsafe shows...
Contractor wins Late Payments legal dispute
An East Grinstead contractor has successfully overturned a legal decision that found it was wrong to terminate its contract with a housing association over repeated late payments.The dispute arose from a JCT contract between...
