Self Employed And Not Been Paid Self employed and not been paid is an ongoing issue in the UK. Working as a freelancer or independent worker can be challenging at the best of times, but when you’re hit with late-paying clients this can make being self employed a lot harder. Late payment is an extremely […]
Since the beginning of Federal Management’s long history, it has become clear that there is a large need for debt collection requirements in, and around, Peterborough. As part of our UK-wide service, we’ve taken steps to focus our efforts on ensuring we provide a dedicated debt collection solution to those in Peterborough and surrounding areas […]
Federal Management has received full approval from the FCA in relation to performing Debt Collection and Debt Recovery Activities in the UK, following a lengthy administration process. The Debt Collection Industry is now subject to heavier scrutiny than ever and any legitimate Debt Collection Agency will be approved under section 59 of the Financial Services and Markets Act […]
Personal Guarantees from Company Directors It is a standard practice for companies in some instances to ask for a personal guarantees from Company Directors but are they enforceable? The answer is very much YES, and they can be a valuable tool in providing recourse to a company’s Director in the unlikely event the company defaults […]
Recovering Debt from Overseas Customers Recovering Debt from overseas customers can represent a headache for any business, large or small. In the case of the smaller enterprise, a cash flow crisis can quickly turn into something far more serious so regardless of the location of your customer, it is imperative that it is tackled quickly […]
Scottish businesses are less likely to enter insolvency than those in the rest of Britain, according to new analysis. Data released by Creditsafe said firms in Scotland have a 7% higher average credit rating than those in England and Wales. It rated companies north of the border as having a “good” level of creditworthiness while […]
There are “reassuring” signs the economy is continuing to recover and there is a “more upbeat mood” among the business community, Business Secretary Vince Cable has said. He told the CBI’s annual conference the UK needed to do more to drive exports to fast-growing countries. To help do this he said the government was continuing […]
Leading Commercial Debt Collection Organisation Federal Management has announced a 18% increase in Collection figures for the first quarter of 2013, compared with the first quarter for 2012. This latest announcement of record recovery figures will only further enhance the growing reputation of Federal and goes very much against the grain of current trends within […]
5 Ways a Debt Collection Agency Business Can Help You If you are in an industry where getting paid on time is a frequent problem, you should use a professional debt collection agency to collect late payments from all your debtors. Here are 5 ways in which a proficient debt collection agency like Federal Management […]
Official figures released by Accountant in Bankruptcy (AiB) last week report 5,601 personal insolvencies in Scotland in the first quarter of 2012/13 – a 14.9 per cent increase on the previous quarter and a 5.3 per cent increase on the same period in the previous year. In total there were 3,310 awards of bankruptcy, showing […]
William Rooney Williams, a West Midlands-based businessman, was sentenced to three years in prison at Wolverhampton Crown Court on 9 August 2012 for deception and fraud, following an initial investigation into his bankruptcy by The Insolvency Service and a criminal investigation and prosecution by the Department for Business, Innovation and Skills (BIS). Mr Williams is […]
The total value of judgments has fallen by £406.1m in one year in a clear sign that more UK residents are struggling to come to terms with debt problems. In the first half of 2012 the total value of judgments dropped by 27.1% to £1.09bn from £1.49bn during the same period last year. Despite the […]
The number of homes being repossessed in the UK has fallen to its lowest level since the end of 2010, says the Council of Mortgage Lenders (CML). There were just 8,500 repossessions in the second quarter of the year, down from 9,600 in the first quarter. The drop has come despite the economy falling into […]
The Sunday Mail has revealed that ex-Rangers chairman Craig Whyte is launching a debt recovery business. The Man who plunged Rangers into liquidation owing up to £140million and trashed the club’s history is behind a new firm based in the heart of Glasgow and, in the ultimate insult to Gers and the club’s fans, the business have been […]
A TOTAL of 13 debt collection firms have bid for the chance to reclaim £5 million from residents who have failed to pay council tax. Stoke-on-Trent City Council is reviewing bids from the companies who will attempt to claw back the unpaid tax on the authority’s behalf and claim a proportion of money reclaimed as […]
The Financial Services Authority will be required to pay a complainant increased redress after failing to notify a debt collection agency that the complainant had already paid required fines. Complaint Commissioner Sir Anthony Holland has instructed the FSA to pay an unnamed complainant a total of £500 after recognising that “it does not appear that […]
The Office of Fair Trading will soon have the power to instantly shut down dodgy financial companies who are ripping off customers. Dodgy payday lenders and other unscrupulous credit firms could be shut down instantly thanks to new powers the Government is giving the Office of Fair Trading (OFT). At the moment although the OFT […]
The number of high street retailers suffering financial collapse rose 10.3% between April and June as the wet weather added to their woes, a new study has revealed. A total of 426 retailers fell insolvent – including high profile victims Clinton Cards and Game – in the second quarter of 2012, up from 386 last […]
Solicitors have said they could become unpaid debt collectors as a result of proposed legislation aimed at making more people contribute towards their criminal legal aid. Scottish Government proposals, if passed, will mean people who have disposable income of £68 a week must make a financial contribution, which is unfair, according to the Law Society of Scotland. […]
Dubai’s highest court has rejected a special petition, lodged by British businessman Safi Qurashi, in which he sought to have his Dh7 million bounced cheque case dropped. The Dubai Cassation Court rejected Qurashi’s petition after Presiding Judge Mohammad Nabeel Riyadh decided that the defendant issued a cheque worth Dh7,191,175 that bounced due to lack of […]